This post is all about what you need to know to scale your business successfully. Postage Supermarket, a leading postal service provider has provided 7 expert tips on scaling your business, as well as a summary of what you can achieve if you applied these principles to your business. Our goal with this post is to help those who are interested in starting their own company or those who have a small company and want to take it to the next level. Let’s get started!
1) Automate as many processes as possible
The first principle we will discuss is automating every process that you can. If you haven’t heard it before, we’ll let you in on a little secret: running a company is hard work and if one of the biggest and best companies in the world (Apple) can’t be run by one person, then neither can your company. Instead of trying to do everything yourself, delegate as much as possible, or better yet, automate it using software or some sort of other technology. This tip goes for everything from bookkeeping, to the hiring process to marketing. This can be done by hiring contractors or an in-house team to take care of it or by using software, but just make sure that it is automated if possible.
2) Don’t just scale your marketing department
In addition to scaling your marketing department, scale everything else as well. Contrary to popular belief, scaling up means that you’re still going to have a larger budget for marketing. In fact, you’re going to need a larger budget for everything. In addition to more money, you’ll be able to utilize more tools and resources and hire more people; all of which will make your company bigger and better. The error that many make, however, is that a company will only increase the budget of the marketing department and not take focus on other areas. By making this error you very quickly see issues arise, such as not being able to deal with the number of leads coming in.
3) Don’t limit yourself to your local market
Most companies, when they grow, stay focused on their local market. They assume that focusing on the local market is the fastest way to grow. The reality is that focusing on your local market is exactly what you shouldn’t do if you wish to scale your company. Instead, you should focus on your entire country or even wider. There are two reasons for this: first, your local market is too small and secondly, it’s way easier to get customers from abroad compared to getting customers from your country. If your company does a good job at scaling its marketing efforts, it will be landing a lot of customers from abroad and from other countries, which in turn will help you expand even further. Many SME’s have the misconception trading abroad can be difficult however using a reliable postal service provider makes it easier than ever!
4) Learn from competitors
One of the best ways to scale your business is to learn from your competitors, their mistakes and how they are trying to improve themselves. By keeping your eyes open, you can see exactly what is working for them and make it work for yourself. Learning from competitors is one of the best ways to scale your business so we recommend researching who is your closest competitor and see how they have taken the next step in scaling their business.
5) Don’t be stubborn
There is a tendency for successful people to be stubborn if they aren’t already used to growing. This isn’t a good way to do business, especially when you’re trying to scale your company. If someone believes that they’re ready and don’t need any additional help, then that’s okay, but it’s much better when you’re open to suggestions and concessions. Don’t be stubborn and listen to your competitors or see what they are doing right in order to help them help you grow.
6) Read the industry news
Another tip that will help you scale your company is to read news about your industry. You can also join forums, participate in discussions and try to answer questions that are being asked about the industry. This way you can learn more about what kind of issues are being faced by others, you can learn new techniques on how they are dealing with certain things and you can keep up to date without spending too much time on it.
7) Avoid shortcuts
Many people think that by just doing some work themselves they will have the edge over everyone else. This is not true. If you want to succeed, then you must avoid shortcuts. Rather, you must learn how the best companies are doing things and you must use their techniques in your company. By using their techniques, you will see success in your business because there is no shortcut to running a great company; it takes knowledge and hard work.
If you’ve followed some of the recommendations above, then we are sure it will help you to gain even more success and growth by scaling your online business.