The day that your company becomes profitable and daily operations are comfortable for everyone may seem like a pipe dream, but it’s also a day that you need to be prepared to tackle. Because once your company has made it past the will-we-make-it-or-won’t-we stage, it’s time to start thinking about how to scale your company.
Though the way you scale your business entirely depends on your goals and the direction you want your business to take, here are a few pointers to get you started:
Take a Step Back
This may sound counterintuitive, but in order to scale, you need to disengage from the day-to-day activities of your company. Things are going well, you have a capable, dedicated staff who have helped you navigate your business thus far – let them take on more responsibility so that you don’t have to wear all the hats. This way, you can focus on figuring out next steps and spearheading business development.
Know the Big Picture
If you never let yourself think about growth because even just establishing your company seemed overwhelming, now is the time to let yourself dream big again. Figure out where you want your business to go and what your goals are. Whether it’s creating and introducing new products, expanding into new territories, founding satellite offices, or disrupting an entirely new category, identify your ultimate goal and then work from there to determine the steps you need to take to get there.
Pinpoint Strategic Advisors
Once your new goals are in place, the next step is to find the people to help you make them a reality. It’s possible the people who can provide clear guidance on finances, logistics, product development, or growth, generally, are already your investors, board members or mentors. But if not, then turn to your network – which has likely expanded from when you were looking for startup business advice – to pinpoint the people you need to make your next business move.
If you’ve yet to bring on more staff members since your launch, the time is now. Surround yourself with people who fill any gaps that are currently missing in the company and that can help you take the next step.
Make a Plan and Go
Once you know where you want to take the business, have the proper support and advisors in place, then all you need to do is make a plan, and set it in motion!