As the year entered 2021, a lot of changes happen. It even scares entrepreneurs and business owners on what to expect next. That’s why scaling your business regularly would greatly impact your company’s capacity and capability.
Yet still, how are you going to scale it effectively? Could it make things better or worse?
Before analysing your business standing for scaling, let’s find out first the details about scaling and why is it important for today.
What is Scaling?
Scaling is reviewing your business growth and development. It involves both the criteria of sturdiness and the ability to expand. Besides that, scaling also caters to its versatility, agility, and flexibility to make changes and alterations.
Sure, your business may generate sales and income, but does it improve since you opened it up? Can you say that it has increased all its aspects, or does your business only keep comfort?
Well, many businesses today give so much effort in scaling their business. If they missed this step, they might feel unaccomplished as they waste another time for improvement.
Like these entrepreneurs and managers, you should also invest your time and effort to determine if your business has already enhanced your cost-effectiveness while generating a greater workload, work efficiency, and growth as a whole team.
Why should you scale now?
You might have been wondering for a long time now that you want to expand your business. Maybe you want to open for the franchise, build another office locally, or expand globally. However, before jumping to new things and projects, scaling should take place first.
Whatever your decision may be, weighing things down is the first thing to do. First, you will need a team who will handle different areas of your business so you can fully take a flight to expand your business. Part of doing so is empowering your business digitally and making it fully functional online. Many people take comfort in looking for a business to cater to their needs and want online. With just one click of a button, the pool of choices is endless.
Another issue is the seasoned and newly built companies around you. Since competition is inevitable, you need to develop many strategies to help you get on top of the line and be noticed by your target audience.
Once you decide to grow your business, you need to know how to scale your business for growth. And scaling your business requires capability and capacity. You need to ask yourself important questions: “Do I have the capacity to grow my business?” “Will my team, storage, office, production, etc., be able to accommodate new customers and growing demand?”
You need to consider many things before jumping into something that would cause your business to crumble down instead of going up. Or you’ll end up having unhappy and unsatisfied customers.
Of course, we don’t want that. You cannot expect that the business process you had when your business is small has the same pace when your business grows. Whichever way, both you and your customers will end up stressed.
You should now start preparing all things behind as you check out what to prioritise first through these main reasons.
So before you think about scaling your business, you need to consider the following steps before saying YES to growing your business.
1. Decide whether you want to scale your business.
The very first step to grow is to be motivated to grow. Wanting to scale your business differs from deciding whether you want to stay small or grow your business.
Many entrepreneurs and small business owners lack fortitude in expanding their business, especially those who stayed that way for the longest time. Even though the demand for their products and services are high, they tend to keep it simple and do everything manually to ensure that the quality they have for years stay that way. It is most prominent for traditional family businesses that have been passed down from generation to next.
In this case, these entrepreneurs are hindered from getting the proper growth of their companies. Instead of leaping more in the industry, they prefer to keep the usual and proven ways.
So, would you stay with your current technique and keep in the safe lane? Or would you look at the step of trying something new for better results? Wanting to do more is the first part of scaling your business. Afterwhich, you are bound to the next step.
2. Plan in scaling your business
You need to think about whether your business is ready for growth. You need to plan every step of your business when you double your sales or how your system and processes will be if that happens.
The best thing you can do is put everything on the paper, jot everything down to lay all the ideas you have and the things that would happen if you grow your business.
One way to start s by having a perception of doubling sales growth. You may want to use an Excel spreadsheet or even use Google sheets, so you save all your ideas automatically. The main question you need to answer now is:
“What happens when you double your sales growth?”
You may want to list down the following things when answering this question: the number of new customers, the number of orders and potential revenues that would come in for each month. In the same way, you need to list down all your expense forecast to handle all the sales orders: infrastructure, raw materials, staff (physical and remote), and even technology (i.e. apps, courses, etc.).
Remember, if you plan it out according to your current situation, it would most likely give you the best results. Planning gives the domino effect situation if the plan is smooth and flatten out effectively.
3. Secure Your Budget
Let’s be realistic. Of course, scaling your business requires doable ideas and the right budget to implement them. In terms of technology, there are many resources you could find online to scale your business. You still need to secure a budget for other things. Some of the following are your remote staff (virtual assistants), raw materials, if any, for infrastructures, equipment, and establishments, as well as other additional expenses.
You may need to request grants or identify and apply to banks that can lend you loans or a line of credit to expand your business, so you will start expanding with what you have.
On the other hand, if you see that big projects are still beyond your budget, you are encouraged to push through fully. You may take into consideration other ways of using time and money wisely. Some entrepreneurs start with little progress if they are still not capable of reaching larger goals.
4. Ensure Potential Sale Opportunities
When scaling your business, you need to be sure that you will have more sales and more customers to cater to. Of course, you will not be thinking of expanding your business if not. That would be the start of your business’ downfall.
In securing that your business will have more sales, you need to have an ample number of leads to generate marketing systems that would make your potential customers respond to a sales team. It makes sure that all leads are followed and turned into sales, a team to manage your potential orders and customers, as well as a firm and manageable flow of billing system to make sure that all invoices and payments are properly taken care of.
5. Find a Reliable Team to Outsource
Aiming for a wonderful workforce is everyone’s goal. Why? Firstly, your people are the ones to give you the service, assistance, and overall support as a company. It also has the highest costs to your business. Other than that, the staffs are the mind and power of your brand.
But then, up until today, staffing is the most challenging part of scaling. It requires you to review the tasks and activities these people must perform. Scaling also reminds you of the talent and ability these people have. Besides that, checking out the people who work with you gives you opportunities to either grow or fail.
Here’s the secret to making things better, which helped several business people for how many years. It is through outsourcing.
The first question that might probably pop up in your mind is, “Why should I want to outsource a team who would help me in scaling your business if I could always hire people near me?”
Well, prevent you from troubling yourself in the hiring process. Make a way to ensure that who you hire is truly reliable and able to do the tasks that you will be giving them. Outsourcing a remote virtual assistant or a team of virtual assistants will be much easier for you, especially if you have many things on your plate.
For instance, when you want to secure potential sales opportunities, you need a team of digital marketing experts who would create content to generate leads and eventually turn them into plausible sales. But then, even if you think you are not tech-savvy enough, a virtual assistant can take care of your social media posts to attract your potential customers and make your business known and rise from your competitors.
No, it’s not magic or a fairy godmother that would help you immediately. It means that you need to make a move as you scale your business. See now how you can improve your workforce of which outsourcing could save up right away.
Nevertheless, it’s still your brilliant choice. We believe in your guts and in how you take good care of your business name and legacy. However, please make your scaling as soon as possible before it’s not too late to revise and alter everything.
Step up after scaling
One of the most important ingredients in scaling your business is taking risks. Without these risks, you cannot possibly gauge how far your business can expand and grow. But with all the best help you can gather, amidst the challenges your business may face, you know that someone will be here to help you from the start until you skyrocket your business into triumph.
An author, T. S. Eliot, once stated, “Only those who will risk going too far can find out how far one can go.”
Through scaling and checking up your capabilities and capacities, you are learning what else to do. Just like a general physical check-up that verifies your whole body, scaling your business also reviews your overall business sturdiness and firmness.
So, what are you waiting for? You should not make a move and be carefree. See what your business can and cannot do. Use your company’s strengths to overpower your competitors while you utilise your weaknesses to hassle more!
Where to find assistance for more business growth?
As mentioned earlier, step 5 could be the most challenging. So, you can always outsource virtual assistants from outsourcing firms like Kaya Services.
Kaya Services would be the one who takes care of all the dirty work, from the tedious process of hiring virtual assistants to ensure that the job description that you are looking for is spot on. You won’t need to worry about whether the virtual assistant is competent, have core values according to your beliefs, and reliable enough to be part of your business. Kaya Services does the job for you!
All you need is to focus on the more important things in scaling your business. And your team of VAs can also help you during these powerful moments of change in your business. You can hire different virtual assistants to take care of different tasks.
The possibilities are endless! You only need to take care of what you love to do within your business, and Kaya Services will take care of the rest.
Are you ready to expand and hire the best people?
If yes, a pool of trained and skilled virtual assistants from the Philippines from Kaya Services is waiting for you. Let them bring the benefits of scaling and improving from today until you completed your whole expansion.
Check out more of team Kaya Services’ virtual assistance services. See here.