How to Scale Your Company to Make More Money?

Michael Finnigan
Jan 09, 2020

It is every entrepreneur’s dream to grow their company, to make their services or products available to all people. To grow a company, you need to scale it to accommodate and support all the new users and orders. However, scaling needs a good set of skills and concrete plans in place.

You might have noticed many teams fail while scaling due to the absence of a good plan in place. If you are planning to scale your business in a productive and sustainable way, it is important for you to have a strong capability and capacity. Below are a few ways you can take into consideration when designing a strong infrastructure of system and people to allow evolution and scalability in your business.

Always Start with the Right Team

It is always important to have an initial core team before starting any scaling processes. You need to have remarkable employees to build the company of your dreams. Ensure that you have brilliant people, who can represent different things such as the various department leaders. Make sure that the core team of your business encompasses people who are ready for the long haul. As your business grows, the roles will become more and more specialized and your team members should be able to keep up with the changes.

Assign Necessary Time

All businesses will be motivated to continue their growth. However, planning to scale very early can devastate your business if you do not have any methods in place to help avoid confusion. Like all engineering problems, starting with a complex structure or system while planning to build will lead to failure. The architecture should be solid and straightforward and be able to support much more complex systems. There are many examples where growth has caused a company to fail. For example, businesses hire new employees to support new users but might not have the financial stability to support them. This can lead to confusion, resulting in faltering support and service, inefficiency, and miscommunications, eventually leading to the failure of the system.

Make Use of the Global Tech Talent

There can be numerous reasons for why you hire global tech talent to help you with the process of scaling your company. One of them is cost efficiency. Additionally, it has become more efficient to hire developers who can help with implementing replicable systems as your company grows. In addition, it is a must to have diversity inside your team, as it can help make your team more flexible and strong. Moreover, the more diverse your team is, the more creative it will be. Therefore, it’s important for you to set the diversity bar from the start.

Generate Advancement Opportunities

Hiring your tech team is important, however, retaining them is another issue. As per the LinkedIn Job Switcher report, approximately 45% of the people left their jobs because they felt that there is no room for advancement. Therefore, you need to add to offer growth opportunities to your employees, as part of your scaling process. Understand that if your company is growing and your employees are not receiving any benefits from the growth, you are making a lot of resentment among the employees. People are in search of ways to evolve their careers and for that, you can promote your staff internally or create new supervisorial and lead roles.

Stay Updated

Keep in mind that the old and outdated systems that you use won’t cut it especially when scaling. This is particularly true in the case of technology. Keeping your tech updated will help you work in an efficient way and save money. Many companies these days have multiple systems and when these systems aren’t communicating with each other, the workflow can be negatively affected, thereby worsening the problems in communication. Before starting to scale, ensure that you put new systems in place to avoid these problems.

Never Be Afraid to Change Course

Always keep refining your methods and processes, shifting and refining to suit your business needs as you scale. Scaling can make or break your business. However, with the proper foresight and planning, you will be able to make your business scale efficiently without any problems.