Scale Your Business: How to Expand Operations in 7 Steps

how to scale a small business

Yes, you’ll be taking on debt, but if all goes well, the growth in revenues will more than cover the loan and interest. If it doesn’t make sense to hire your own employee, there are ways to outsource tasks to streamline your business as you scale. Instead, he uses an agency to handle all his marketing how to scale a business because he realized it was something a third-party would be better at. You should only take your business to the next step if you’re truly ready for a bigger enterprise. Scaling up means your company is going to take more time, resources, and expertise that you have to be prepared to give.

  • Specifically though, they decided the most impactful choice was to hire someone to take care of brand and community management.
  • Look at industry benchmarks to determine a rule of thumb for how many customers one service rep can be expected to handle.
  • Exasperated, his marketing director finally volunteered to deal with the press in David’s place.
  • In fact, leaders who scale do so regardless of background, skill, and talent.
  • Which marketing avenues are bringing in the most traffic to your website and sales?

Anita Campbell is CEO and Publisher of Small Business Trends, LLC, a media and information company. A lawyer by training, she has been an entrepreneur at heart her entire life. As publisher of she closely follows trends in the small business market and trends in technology.

Don’t hire salespeople too early

After ensuring that your business is ready to expand and that you have chosen the right team and tools to optimize your company’s goals, it’s time to finally get to it. There are many online collaboration tools for improving the shopping experience, sales, and production to help you grow your business. For example, communication tools like Slack or Microsoft Teams let you share files with employees, make calls, and organize video conferences. Systems integration is a prime area for improvement in most businesses.

How To Scale A Small Business – Nav

How To Scale A Small Business.

Posted: Fri, 07 Jan 2022 08:00:00 GMT [source]

Similarly, share how your usage numbers are increasing over time. This provides data-backed proof your customers realize the benefits of using your product — and want to use it more. These risk reducers show investors customer success is proof of greater market potential.

Not Paying Attention to Changing Company Culture

Many small business owners tend to do everything on their own. For example, if your goal is to earn $1 million this year, your hourly rate would roughly equate $450, so ideally, you shouldn’t do anything that isn’t returning that amount of money.

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