True startup scalability allows for expansion and revenue growth while minimizing cost increases. Even if you’re not ready to grow right now, there are things you can do to prepare for how to scale a business’s growth and success. For example:
1. Build a solid foundation
If a business is small, this is a perfect time to invest the necessary time and money in systems that will make the company much larger. Having solid systems, like a CRM or good e-commerce software can help you save time and focus your efforts on other things. Automation is, in addition to a trend that will continue to grow, the main ally of small and medium-sized companies that seek to grow.
2. Focus on a scalable business model
In the first few days, it can be tempting to go for the quick (or cheap) fix. Money, time, and expertise can be tight, and investing in basic solutions that don’t require a huge financial investment or learning curve can seem like the smartest solution. It is better to avoid cheap and inappropriate options and think ahead about what will be best for the business in the future.
3. Adopt strategic planning
Strategic planning is the link between a great idea and true success and growth. This requires continuous attention to detail and an investment of time. Knowing your business inside and out can prepare you for scalable challenges and opportunities.
4. Focus on strengths
Focusing on strengths and contracting or outsourcing the rest of the tasks associated with running the business is essential for the scalability of a business. Scalable business owners are experts at leveraging external resources.
5. Start a scalable idea
Investors like ideas based on market research from outside experts, such as Gartner Research, that heralds a $1 billion opportunity with a double-digit growth rate. In these types of cases, they are much more likely to be scalable and investable.
Create a business plan and model that is attractive to investors. It is difficult to build and develop the scalability of a business with highly supported free products. Also, scalable companies have high margins (over 50%), little support, and minimal staff.
6. Use a Minimum Viable Product to validate the model
No product, even with a great opportunity, can be brought forward until it can be proven to work. It has pivot models with real clients before asking investors for money and builds a strong team to work on it. The key is to show that you have and can continue to hire the right people to run the business at scale. Keep in mind that entrepreneurs, if they do it right, never outsource their core competency or trust intellectual property that doesn’t belong to them. They also don’t try to do everything in-house, as building the experience they need is time-consuming and expensive.
7. Scaling requires leveraging external resources
Focus on marketing and indirect channels to get the message across quickly. Direct marketing is generally not scalable, especially on low-cost, high-volume products. These days it takes a lot of marketing and advertising to make your startup visible and scalable amid the flood of information from all sources to all customers.
8. Define an open and continuous improvement business
Don’t try to solve all customer problems at once, but rather create a strategy and plan that demonstrates continuous innovation and leads to follow-up complementary solutions in the future.