Growing your business starts with knowing the right time to scale up, and understanding your scalability is a crucial first step in doing so. Keep these few things in mind when reconsidering your own scalability to ensure you set off on the right foot.
1. Know how to track your progress
Before scaling up to a heavier workload, it is crucial to be quantifying and evaluating your past successes. In fact, “[companies] that have helpful mentors, track performance metrics effectively, and learn from thought leaders raise 7x more money and have 3.5x better user growth”, per research conducted by Startup Genome on over 3000 startups.
Figure out a KPI that is best suited for your business to make sure you are able to meet your goals today and in the future.
2. Automation is key
While it can be tempting to want to move up as quickly as possible, taking the time to establish automation within your business processes can be worth its weight in gold down the road when the structure of your business is built to withstand substantial growth.
According to a study by McKinsey & Company consulting group, 60 percent of company roles could have a third of their business activities automated, ranging anywhere from marketing to lead generation to customer onboarding for maximum efficiency. As a result, automating these processes can focus staff attention and resources on company goals and strategy instead of those easily automated tasks.
We’ve seen serious improvements in companies that learn to leverage their time using Salesforce automation. See a first-hand account of what implementing automation can do for your business in one of our clients, Productboard, here.
3. Preparation now saves headaches later
Considering about three out of every four young companies report complications regarding premature scaling, reaping the benefits of growth can only be optimized with the right help and arrangement beforehand. Being able to seamlessly transition from one KPI milestone to the next is just as important as executing those goals in the first place. Use the resources available to you to ensure poor planning is not the reason for the delay in company growth!
Enehano Solutions has helped over 20 companies align and automate their business processes, all while measuring and evaluating successful strategies. Based on this experience, we’ve created a questionnaire uniquely tailored to assessing the scalability of your business;
Ready to take the next steps and scale up your business? Reach out to Zuzana to learn more about how Enehano can help grow your company by turning leads to cash in under 10 weeks time.
Published by Max Sands, Content Creator and fresh face at Enehano Solutions.