When we talk about scaling a business, we basically mean growing revenues much faster than costs. Unfortunately, too many businesses fall into the growth trap, where costs continue to increase in line with revenue – the result being a lot of effort for little reward.

A sustainable scaling strategy is achievable for most businesses – all you need to do is sort your market and product/service, your people and your processes – get those right and in tune and the numbers look after themselves.

These tips will help.

1. KNOW YOUR PURPOSE

What business are you in and what do you want to achieve? If you don’t have clear quantified and measurable goals, and road maps to get there, then you will probably get lost.

2. BIG FISH, SMALL POND

Don’t try and be all things to all people – understand and track your market, identifying the market segment(s) where you are strongest and the potential is big enough to meet your aspirations

3. EMBRACE INNOVATION

Be thinking two or three versions ahead and plan to deliver. The competition won’t stand still, so you can’t afford to either.

Oh, and don’t forget to optimise your R&D Tax Relief

4. ‘FAST-TRACK’ SALES

Explore innovative routes to market. If there is sufficient margin, then 3rd party sales channels can rapidly open up new markets, as can licensing deals.

5. PARTNER SUPPORT

It is in the interests of your partners to keep your product/service in prime condition. Look to getting them to part fund your ongoing R&D.

6. WOW YOUR EMPLOYEES

The best way to create customer loyalty? Focus on employee loyalty first so they can spread the word and pass their enthusiasm for your company on to those they serve.

7. IMPROVE YOUR NETWORKING SKILLS

“No man is an island – develop and cultivate a vast network of colleagues, resources and mentors who can connect you to the right people and ensure you continue to grow.

And now the really tricky bits!

8. CREATE SCALABLE PROCESSES AND OPERATIONS

Successful scaling also requires internal processes and operations are future proof – and we don’t mean just buying a new photocopier (or the 21st century equivalent!)

This sometimes is the hardest challenge an entrepreneur has to overcome – time consuming, disruptive and possibly expensive, but critical.

9. ESTABLISH YOUR TEAM

You can’t handle everything on your own. Developing a management team that is flexible and can grow with the company is essential.

10. LEARN WHEN TO DELEGATE

The really, really tricky bit. Delegation and empowerment will allow you to work “on” the business instead of “in” it. Paying lip service to this will result in disaster.

INFINTEC

We help ambitious tech businesses along their scaling journey – providing hands-on support and guidance. We can help you address the top 10 points above, and more.

With years of experience, we know what works and what doesn’t – we understand marketing, innovation, people and finance.

Why not get in touch – it may be an hour well spent.

[email protected]

www.infintec.org