Do you sometimes struggle with time management, creating practical action steps and then executing them efficiently? Creating scalability allows businesses to flourish – sustainably. Scaling – not be confused with growing – is about improving your efficiency as you grow, an example of this could be: 1+1 =3.
KEY STEPS TO SUCCESSFUL SCALABILITY
- Strategy & Self-development: Creating a clear, thought through strategy is at the core of any successful business. Business leaders must also develop themselves by asking for advice; whether from successful entrepreneurs, Non-Executive Directors or advisors. Another person’s perspective will help you be objective. Be ruthless with your time – prioritising each day to use your time efficiently to work on your business, not just in it.
2. The process is easily understood & measurable: Spending time mapping out your business processes from sales to collection, will allow you to not only communicate, replicate and maintain consistency, which could get lost as you grow, but also let you (or others) see where improvements can be made.
3. Clients and Networking: Having a deep understanding of why your clients buy your products or services and then building and fostering critical relationships, is crucial. Develop your Unique Value Proposition that sets yourself apart from your competition and allows you to articulate your competitive strength. Have visibility to your sales pipeline, which will in turn enable you to adapt your activities and sustain scalable growth.
There are more steps in scaling your business but be sure to surround yourself with the right team, mentors and connections. A scalable business will attract a better PE ratio, so don’t procrastinate but focus on key activities.
For more information call Manton Townend for a chat on 07703 446564 or take a look around the rest of the website to understand MBC and our process in delivering quality business advice.