6 considerations for scaling a company that creates jobs and market demand

Do you dream of owning a business that’s booming? One that’s recognized as a leader in its industry? A company that’s coveted as a place to work? Or that’s consistently bringing in customers who see your brand and believe in what you do? If you’re an entrepreneur, you’re not alone in wanting massive success for your business. But it’s important to think about the difference between growing your business alone and scaling it to ensure it is successful in the long term.

Scaling your business isn’t just about growth alone. Scale refers to a massive increase in revenue without extra overhead, which is why it’s important to give your business the infrastructure it takes to ensure success well into the future.  And while that task may be easier said than done, all it takes is smart planning and effort to make sure it’s done right. The following 6 considerations can build your company in a way that will create jobs and market demand and scale it in a way that success is inevitable.

As you develop your business plan, make sure you have an infrastructure in place that can be adapted for numerous pieces of your business. For example, you should have a deep understanding of what it is you offer, a go-to-market strategy, and where your funding comes from. You should also have staffing outlined, your internal processes explained, and goals set up to keep your company on track. As you hire or outsource, scaling your business means you can handle that growth without tapping your financial reserves, and that you’re hiring great people who will continue to help you grow. If you have a smart plan in place, it will ensure you grow sustainably.

You likely started your business because you saw an opportunity to meet a demand from potential customers. But it takes more than simply offering a product or service to scale. You need to know your audience and where your business lives within your needs. You don’t want to follow what everybody else in the market is doing. You need to know the gaps you can fill within the services your target market needs. And if you see something isn’t being answered and your business can meet those demands, shift your focus to meet those needs. Your business will grow when you provide your customers with what they need for their own success.

If you settle on the place where you started your business, you may hit a plateau in your sales or growth. That’s why it’s so important to continue to find ways to adapt your business. Make innovation a constant part of your culture to stay ahead. That involves identifying pain points for your audience and creating solutions for them that will put your business ahead of the curve. Make sure you’re consistently adapting along the way to continue to scale smartly.

As you look for smart ways to scale, it pays to invest in the systems that will help you get there. For example, automation can help you scale easily without distracting from your everyday work. Whether it’s adding a chatbot to your website to answer frequently asked questions or taking the time to set up a lead generation and nurturing system to help you close sales easier, technology can go a long way toward helping sustain this type of growth. Look for repetitive tasks that you can automate and work toward setting up those systems before your growth gets too out of hand. Your full-time employees will thank you, too.

As companies begin to scale, it can be easy to leave culture behind. That’s why you need to make sure you’ve purposely set your culture and that you’re constantly reminded of what it is you stand for. As you hire to meet the growing demands of your business, you’ll want to hire for the right culture fit. A good culture will empower confidence in your staff and increase their overall happiness within your company. Make sure culture remains consistent through your business’ growth.

Remember that you don’t have to hire everything you need within your business. It’s also possible to outsource several needs you may have. For example, outsourcing your customer support tools and a virtual assistant can help you save time and money. Having a resource that can help you with content marketing can be cost-effective for your budget. You may also want to consider outsourcing to an accountant or bookkeeper until you have capacity for a CFO. Know what you can afford and plan to find the right team to help you scale effectively. That way, you can focus on hiring the right sales and support staff for the immediate needs of your business.

As you work toward scaling your business rapidly, planning ahead and knowing where your business is headed will ensure your success in the long term. Do you have tips for scale? Share them in the comments below!

Jim Allen is a business leader and entrepreneur who has built one of the top-producing real estate groups in the Triangle. He is President of The Jim Allen Group, which is consistently named one of the top real estate teams in North Carolina and even North America.