Mind, Body & Soul
5 Useful Habits For Every Day
13 May 2021
Mind, Body & Soul
How Movies Affect Mental Health
13 May 2021
How To Become A Scrum Master
13 May 2021
A Guide To Setting Up A Bitcoin Lightning Node
12 May 2021
Trending Music Hashtags To Get Your Posts Noticed
24 August 2018
Trending Fashion Hashtags To Get Your Posts Noticed
05 April 2018
Trending Wedding Hashtags To Get Your Posts Noticed
18 September 2018
Trending Beauty Hashtags To Get Your Posts Noticed
05 July 2018
How to Scale Your Startup for Maximum Growth
Today’s business development rate is staggering, and with more companies quickly getting off the ground, it’s not too strange to expect many of them to fail. This is especially prevalent among startups – highly innovative, fiercely competitive business models that tend to explode in popularity once they overcome the initial kick-off hurdles such as funding, branding, and marketing.
What many startup founders need to remember is that the scalability of your business will also be a defining factor of its success and longevity, no matter your industry.
Knowing that leaders need to build startups on the foundation that keeps scalability in mind from day one.
Can you see your business handling more work without jeopardizing its quality or veering from your brand identity?
A scalable startup should take on more clients or produce more results while maintaining brand consistency and meeting customer expectations at every turn. To help you get there, you’ll need all the scalability-friendly suggestions you can get.
Here are a few to allow your startup to flourish and outgrow its current scope.
1. Automate processes
Thanks to AI-driven tools and smart software solutions, startups can now push more menial tasks off their plan by enabling automation. That is one of the most prudent ways to reduce human error and mitigate risk during your growth phase, as well.
Automation can cover data collection and analytics, but it can also help with HR management, time and project management, compiling marketing reports, sending invoices, and automating recurring payments. Rest assured that every department has at least a few tasks you can allow the software to take over when your employees need to take on more valuable tasks.
2. Leverage the cloud
As your startup begins to grow and expand, you need to use more tools, create more accounts, run more employee workshops, and the like. With more customers to handle, you have larger databases, more emails to send and respond to, more queries to handle. The workload can only be manageable if you use a platform that can allow for scalability, which is why more startups are relying on cloud technology. More precisely, growth-oriented startups choose AWS and similarly trustworthy cloud providers to build their businesses.
That also means that you need comprehensive AWS cloud management to keep your cloud environment in order, ensure optimal security and data protection, and enable seamless collaboration. From using scalable cloud storage, hosting for your website, all the way to cloud-based software for collaboration, your startup can benefit from this technology daily in your pursuit for growth.
3. Push your marketing forward
Growth and scalability often depend on how persistent you are with your marketing efforts. If you operate in a fast-developing industry, then you cannot expect word of mouth to be your sole source of leads or investors. Growing your client base means investing your time and creativity into evolving your marketing strategy.
Consider cost-effective and entirely free, but powerful marketing opportunities such as in-house content creation for your website and social media. Make sure that you start conversations with your customers and look for influencers to support your business and become brand ambassadors.
4. Secure your funding
Although startups are, by nature, very profitable when they are built on a sustainable and scalable model, your ability to grow your organization will heavily depend on the financial stability you secure for your business.
Finding investors and ensuring that your startup will have the needed funds to grow is essential to help manage the growing workload and growing team. For starters, turn to your initial investors, who already know and understand what your brand stands for.
If you need more, then traditional bank loans might not be feasible for a startup. What you can do instead is look into crowdfunding options, as well as joining a startup incubator in your industry. Sometimes a combination of several funding opportunities will bring you more stability, so you can mix and match depending on the stage your startup is currently in or is moving towards in the near future.
Remember that your friends and family can also become your investors, especially if you have affluent family members or your startup doesn’t have substantial investment needs, but rather a little “nudge”.
5. Outsource various tasks and roles
Sometimes accelerating your business growth doesn’t depend solely on what you can do internally, but what you can avoid internally and make room for outsourcing.
Thanks to the growing freelancing workforce and more independent agencies and experts, you can outsource a wide array of processes in your startup that are much more costly to run internally, and that would take up too much of your precious time. For example, handling various aspects of accounting and bookkeeping can now be outsourced.
Then again, you can outsource project-based work such as graphic design, web development, content creation, search engine optimization, all the way to marketing. If the process isn’t mission-critical or if it’s not a core part of what you offer to your customers, you can likely find a way to outsource and thus reduce the workload for your growing teams.
Scaling your startup is not an easy feat, but when you prepare yourself with the right essential tools and strategies, you’ll have a far better shot at growing your business.
The competitive nature of startups makes it more challenging for founders to retain their industry position, but focusing on growth by building the right foundation can enable you and your team to succeed. Let these and other scalability ideas become your go-to solutions, and you’ll create the perfect basis to foster growth.
Tell us your story
Are you looking to promote your business?
Registering with nichemarket is easy; all you will need to do is head over to our sign up form and follow the instructions. If you require a more detailed guide on how to create your profile or your listing, then we highly recommend you check out the following articles.
If you enjoyed this post and have time to spare why not check out these related posts and dive deeper down the rabbit hole that is starting a business.
- Over 40 South African Tech Business Ideas That Require Little To No Capital
- How To Register A Small Business In South Africa
- Buying a business vs. creating a start-up
- How to Start an Event Planning Services Business