How To Scale Up Your Business & Take The Next Step

There comes a point in every entrepreneur’s career when they feel ready to take the next step. If you’re doing this correctly, your business should always find itself moving forward. However, at certain junctures, you’ve got to make a big leap. That could mean opening a second shop, investing in more employees, or boosting your marketing budget.

Making the decision to scale up is a tricky one for any business person. Of course, you’ll open yourself up to more customers, bigger clients, and larger profits. But, the risks are bigger too. There are bigger overheads, more employees to support, and more demand to fill.

Is your business ready to scale up and take the next step? We’ll take you through the motions and help you expand slowly and carefully. Too fast, and the whole structure will fall apart! The first step is establishing your groundwork, and making sure the foundations can handle the growth.

Make sure you’ve got the income. – It may sound like a silly suggestion, but you’d be surprised how many businesses forge ahead without it. “The money will come when we expand”, they say. If your business is not pulling in profit now, it won’t when it gets bigger either! Ensure that you have a stable base and an economic plan that is working. Scaling up means replicating your model on a bigger level. If you’re losing money now, you’ll lose more when you scale up.

Make sure the product is the best it can be. – The best thing about the small business model is that it allows you to test and refine your product to perfection. Only when you’ve crafted a truly great product are you ready to scale up.

Hire a new team – If you’re convinced that your foundations are strong enough, it’s time to bring in a new team. Do this before you increase the budgets and purchase new property. Find people that have the experience at a higher level. These are the people that will take your business to the next level. Consult them and devise a scale-up plan with them. Use their expertise to help you grow carefully.

Expand the business premises – With the right team in place, you can now invest in new business space. Whether it’s a second store or a larger office, choose your size wisely. Give yourself enough room to grow further, but don’t rent more office than you need. Alongside the space, you’ll need a dedicated business number to support the expanding customer demand. 0333 numbers are increasingly popular for growing businesses. They’re cheap to call, and perfect for a company that has jumped to the national level.

Boost your marketing – Finally, with all the support and foundations in place, you can boost the marketing budget. It will see a flood of new clients and customers pour through your doors. Aren’t you glad you put all the preparation in place first?

Choosing to scale up is a big decision for any startup. Heed our advice and take small steps, laying the groundwork as you go.