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Scaling Successfully – A Review of the State of the Art

By : Ziad K Abdelnour| 10 July 2018
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Scaling Successfully

To be significant, you first need to be small. The difference between a startup and a successful company comes down to experience and time, as every single company in the world began as a startup. However, more factors contribute to a company growing to success. Things like hard work, focus, patience, timing, and having the right team of people.

There are many opportunities to grow and succeed but not every business leader can recognize an opportunity and know how to take it. Here are some ways for scaling a business, taken from those who already made those trails and learned how to overcome the odds.

1. Taking Shortcuts – Don’t Even Try It

When it comes to scaling a business, there are no shortcuts to your goals. By cutting corners and trying to take an easy path will surely cripple your business. It may seem that your actions work for now, but there will be repercussions in the future. By focusing solely on your end goal (higher profits), you may be tempted to choose the quickest route, which often requires making compromises. When you start compromising your business’ integrity, your values and your ethics, it is usually at the expense of your employees and customers. There are no shortcuts. Do the work.

2. Simplify Your Processes

Complexity requires time, it slows you down and inhibits your growth. Rethink your business processes to see which tasks can be made less complex. Otherwise, as your business strategies change, organizations grow, and products evolve, complexity will rear its head. As a business leader, you need to have a clear vision of your goals, to communicate it well, and lead your team towards them. Also, you should be ready to change your ways when you realize that you’re not getting the required results. Simplicity is the key.

3. Let Employees Drive the Vision

The most successful companies invest in their employees, and they do it for a good reason – it helps them attract and retain top industry talent, gaining their loyalty and fulfilling work-life balance. The result? The employees are willing to work harder which leads to substantial company growth. When they feel appreciated and valued, they become passionate and emotionally invested in your vision.

Giants like Google provide their employees with perks, such as free food, bonus payments for new parents, paid leave for volunteering, and extended paid parental leave. But the investment can go beyond these perks. Invest in the resources that will help your employees to work more efficiently, and scale with their operations as the company grows.

4. Don’t Speculate – Rely on Data

How long does it take your customers to convert? How do they move through your sales funnel? Why do they leave? What do they love about you? What attracts their attention? Instead of trying to guess, gather data, analyze it, and let it drive your decision-making. It’s the key to sustainable growth. Otherwise, you risk spending your money on strategies that you aren’t sure will work. That’s shooting in the dark.

Use hard data from survey responses, website analytics, customer data, and social insights.

Other strategies for scaling successfully include focusing on your customers and delighting them. Ask for help when needed; learn to say no to bad ideas, and stay involved in your business development. Growth is never like a straight line to the top, but a slow and strategic climb up a rock wall. If you want to reach the top, you need to be aware of every loose stone, foothold, and handhold along the way.

Scaling requires experience, knowing where to go, and how to solve the most significant obstacles on the road to success. The philosophy of Blackhawk Partners advisory team is about providing solutions to complex business problems. Our expertise develops unique solutions to our client’s specialized needs. We hope we always remain your trusted source for capital and advice.

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