Scalability Secrets – 6 Tips for Building a Scalable Business
Building any business, let alone a scalable one, is a tough gig. Time, effort, and dedication are all required, and your skills will need to be highly advanced if you want to be able to compete with multinational giants one day. There are, however, a few things you can do to make the process run more smoothly:
Get Your IT in Order
Unless you specialise in predicting and caring for the needs of your software and equipment, now is the time to contact some quality managed service providers and bring the best one on board. You’ll likely secure a better rate over the life of your business if you have a strong, well established relationship from the beginning. You’ll also have a lot less to worry about as security, backups, and other technical requirements will no longer be your problem. This allows you to focus your time and energy elsewhere, which is vital to the scalability of your business.
Automate Wherever Possible
Once you have all your devices and software functioning properly and well supported, it’s time to automate pretty much anything that can be automated. Computers have much less chance of making a mistake with basic functions than humans do (as our brains tend to pay less attention to repetitive tasks), so things like AP automation can give you a serious competitive edge.
You’ll sleep better at night knowing that the processes that keep your business running are under control. Automating these basic tasks is key to scaling up.
Don’t Limit Yourself to One Location
You’ll also want to avoid being tied to a single location. Virtual offices allow you the freedom of working from wherever while still providing a premium address. They also facilitate the ability to build your team based on the skills they can bring to your business rather than their ability to come into the office every day.
Bring in Professional Tax Managers
One of the biggest mistakes people make when trying to scale up their business is falling behind on their taxes. It can be intoxicating watching your bank balance rise, and forgetting about your tax obligations is surprisingly easy – until the department comes to collect, that is.
Avoid making mistakes or falling behind on your obligations by hiring a professional tax accountant, they’ll be helpful to you throughout your business journey, and their value to your operations will only increase as your profits and company grow.
Get Your Website Right
Trying to scale a business without a quality website is nearly impossible. Everyone goes online for everything these days, and if you don’t have a presence in the digital landscape, you may as well not exist.
If you’re not confident in creating your own, bring in a UI design agency to take care of the details for you. It may cost a bit more than a DIY job, but it’s a solid investment in the future of your company.
Never Stop Learning
Finally, it’s important that you never stop learning. Too many successful entrepreneurs fall into the trap of thinking that because their business “made it” they can simply keep doing what they’re doing now and they will continue to grow. This is far from true. Constant personal and professional development are a must for those seeking world domination.
If you follow these tips and put your heart and soul into everything you do, you’ll already be halfway to having the scalable business of your dreams.