You have been wondering for a long time now that you want to expand your business. Maybe you want to open for the franchise, or build another office locally, or even expand globally.
Whatever your decision may be, you will need a team who will handle different areas of your business so you can fully take flight on expanding your business. And part of doing so is empowering your business digitally and making it fully functional online. Especially now that a lot of people take comfort in looking for a business to cater to their needs and wants online. With just one click of a button, the pool of choices is endless.
And since competition is inevitable, you need to come up with a lot of 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 a lot of 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. And 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 stressful.
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.
Wanting to scale your business is different from deciding whether you want to stay small or you want to grow your business.
A lot of 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. This is most prominent for traditional family businesses that have been passed down from generation to next.
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 how would your business be when you double your sales, or how your system and processes will be if that happens.
The best thing that you can do is to put everything in the paper, jot everything down so that you can 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.).
3. Secure Your Budget
Of course, scaling your business requires not only doable ideas but also the right budget to implement it. Whilst in terms of technology, there are a lot of resources you could find online to scale your business, you still need to secure budget for other things like 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 be able to start expanding with what you have.
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, sales team to make 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
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, besides troubling you in the hiring process and ensuring 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 a lot of things on your plate.
First, you can always outsource virtual assistants form 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.
For instance, when you want to secure potential sales opportunities, you need a team of digital marketing experts who would take care of creating contents to generate leads and eventually turn them into plausible sales. Or if you think you are not tech-savvy enough, you can hire a virtual assistant who can take care of your social media posts to attract your potential customers and make your business known and rise from your competitors.
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.
“Only those who will risk going too far can possibly find out how far one can go.” – T.S. Eliot, author
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 start until you skyrocket your business into triumph.