Scaling Up Your Small Business

Featured article by Andre Smith, Internet Marketing and E-Commerce specialist

While there are plenty of businesses and organizations that would prefer to keep things small and manageable for one reason or another, others place a tremendous amount of focus on growth. When a business begins to experience growth, it becomes clear that there will be challenges associated with the process of scaling-up the organization. Be it limitations with finances, physical space or simple staffing issues, scaling-up a small business can be hard work. It doesn’t, however, have to be impossible.

Are you ready to take your small business to the next level? Here are a few tips to help lead you in the right direction:

1. Think as Big as You Need to

One of the biggest things that trips business owners up when it comes to scaling their organization is the concern of “going too big.” After all, no one wants to get ahead of themselves only to wind up failing in the end, which can and has happened. Thinking big doesn’t necessarily mean planning to become a billionaire, however—it may simply mean being honest with yourself about what your company is capable of becoming. Many people who run 5 million dollar companies don’t believe they could ever turn into 50 million dollar companies, but why not?

Take care in making the right decisions, but don’t sell yourself short if you have goals that may be manageably achievable.

2. Look Toward the Cloud

If there’s one thing that has helped to make scaling-up a small business easier than perhaps ever in the past, it’s cloud computing. The cloud not only allows you to host large amounts of data for a fraction of what it might cost to host locally, but it offers a number of different software solutions to help streamline business processes, from CRM to supply chain ERP. The cloud also allows for employees to work remotely without concerns over issues related to efficiency and productivity.

The growth of cloud computing in just the past ten years has been astounding, and it’s not likely to slow anytime soon. For businesses that are looking to take things to the next level, the cloud will be invaluable in the coming years.

3. Focus On Smart Spending

The financial aspects associated with scaling-up a business can be daunting to say the very least. For some, money is the one thing that gets in the way of achieving success with scaling things up. The financial side of your business shouldn’t be a barrier keeping you from achieving success, but it also shouldn’t go overlooked, as it does matter. Spending your money as wisely as possible is the key to scaling-up a business without suffering repercussions during the process, and if you haven’t already hired a competent CFO to manage your business’s bottom line, now’s the time to do so.

Don’t let your finances keep you up at night. If they’re being managed properly, this problem should never present itself.

4. Streamline Your Staff

One mistake that business owners and managers sometimes make is confusing “growth” with “hiring more employees.” Rest assured, an organization can grow in scope without having to actually expand staff-wise. Instead, focus on streamlining your staff to the point where you’re paying as few people as possible to get the job done without sacrificing quality. This can be a tricky balance to find, as you don’t want to overwork your employees or not hire the right experts. Over time, however, focusing on being a minimalist with staffing can do wonders for your organization.

Just because your business is small right now doesn’t mean it has to stay that way. Make careful efforts to scale-up your organization, and success will no doubt follow close behind.