Is your business scalable? If it’s not, or you don’t know what that means, keep reading.
Here’s what you need to know about scaling your business, and why you’ll want to start now:
What is scalability?
According to Investopedia: “Scalability is a characteristic of a system, model or function that describes its capability to cope and perform under an increased or expanding workload. A system that scales well will be able to maintain or even increase its level of performance or efficiency when tested by larger operational demands.”
Scalabilty is determined by your capacity for growth. If your business were to double tomorrow, would you be able to keep up? Would quality or turnaround times suffer? Do you have systems and training materials in place to quickly get new team members up to speed?
Why scaling your business is something you should be thinking about today:
Even if you’re in the beginning stages of a new venture, you should be thinking about scaling your business for the future. Why? Because if you begin with that end in mind, you’ll be able to create policies and procedures that are clear and concise, and easily implemented as your business grows.
But what if you’re not starting at square one? Is scalability still important? YES. Now is the time to consider whether or not your business is ready to sustain growth. If you don’t have a plan in place for scaling your business, you run the risk of missed opportunities. You also face the very real possibility of letting down clients or customers by growing too fast without crucial systems in place.
Things to consider when preparing to scale your business:
- What does growth look like for your unique business?
- What demands or pressures will increase as you grow?
Develop clear systems.
- What roles will need to be delegated or added as your business grows?
- Are your policies, procedures and training materials clear and easy to understand?
- How easy would it be to add someone to your team if your business doubled overnight?
Solutions for scaling your business affordably:
One of the biggest challenges you’ll face when scaling your business is how to add team members without increasing your overhead in an unsustainable way. Making sure your systems and procedures are clear and concise will help keep costs low and overhead minimal. Consider hiring a qualified virtual assistant for only the hours you need rather than costly in-office staff. And delegate those easily completed tasks (like sorting through emails or data entry) now rather than later. This will free up your time for scaling your business to the next level.
At UpscaleAlly we help busy professionals become more productive – with less stress, less overwhelm, and more time to do the things that really matter. Whether you’re a solopreneur looking to affordably scale your business or an executive wanting to double your efficiency, without doubling your workload, we’re here for you. Click here to see how our team can change the way you do business for the better.