How to Scale Your Business by Enriching Your Products and Services
Updated: Jan 7
The entrepreneurial spirit! It may have engulfed you when you first started to describe your business intentions with a few scribbled words on a cocktail napkin.
Or, maybe you became immersed in it while writing a daily journal entry.
The spirit became your business driver, the way to grow your startup into the blossoming small business model it is today.
Eventually, the when and how you and the entrepreneurial spirit became 'one' seems to have lost its relevance just a bit.
'Scaling Up’ = Start-up 2.0
The same zest required for your startup is even more relied upon as you plan to scale your business.
There are going to be a plethora of questions and concerns at the initial stages. But, just as a shark's continual movement is critical to its survival, so it is for a startup to leap scaling.
Your leading the scalability process is no different from a military general devising a solid battle plan.
It's a simple comparison as the moves made by entrepreneurs and leaders of corporate giants alike have parallels to the operational procedures of the military leaders from the beginnings of the civilized world.
Scholars and leaders are quick to encompass Sun Tzu's Art of War throughout the business community.
"Victorious warriors win first and then go to war, while defeated warriors go to war first and then seek to win" – Sun Tzu.
Coincidentally, the centuries-old book of warfare does translate into successful business leadership rather well – and it fits this discussion on how to maximize your business service offering for your scaleup.
Tip #1 – Get the Timing, Product, and Service Offering Right for Scale-up
Have you carefully considered and planned for the scaleup?
The timing of this move must coincide with the necessary steps to improve your product and service offering to meet the intended expectations and goals of the scaleup.
It would help if you focused on what these changes will mean for competing businesses.
The improvements are not just to improve the market share over your current competitors.
With growth, you will now face new competition that may equal or already be a more extensive operation than your planned scaleup.
Make sure your scaleup is in line with your primary customers. These billings created the situation you are in, and you want to ensure they will be improving along with you.
Reach out to your current customers and reassure their importance to your business.
Scaling may mean product improvements (suitable for existing customers) or new product lines to expand the customer base.
Tip #2 – Is Your Pricing and Business Model Still Right?
An increase in clientele is likely to be beginning the scaling process, but it should also create a situation where you are re-addressing all aspects of the business.
Before adding new walls, a builder knows which weight-bearing walls are and is a good train of thought for the entrepreneur approaching the scaleup.
Your infrastructure must be shored up, and then the following steps and new goal-setting procedures can be enacted.
It's also a time to take a long look at the pricing structure and future marketing efforts.
Scaling up from the startup model may mean incorporating an advertising budget (business-to-business, business-to-consumer, or BOTH!).
What part is social media going to play in the scaleup?
Revamping your website to include blogs, videos, or a monthly podcast relevant to your customer's needs (include product/service discounts), are digital marketing examples that you can easily share via Facebook, Instagram, LinkedIn, and other social media outlets and forums.
Tip #3 – Scale-up only when you're ready!
It's all about being fully prepared before making a move to scale. Try to avoid procrastination, inactivity, or prolonged delay, but you must trust your entrepreneurial instincts to lead to different levels of success.
Ensure the same business message is being conveyed by those in marketing, sales, service, and production.
Understand which services/products are essential to each of your clients.
Before commencing scale, possibly have your marketing professionals research customers to get a better feel for service positives and those seeking additional services that align with your company growth strategies.
Crunching this data may kickstart your scalability efforts or may lead to re-addressing the move until you can comfortably answer customers' concerns and desires.
"Plan for what is difficult while it is easy, do what is great while it is small." – Sun Tzu.
Ready to Scale
Growing pains are the name of the game as you transition from startup to scaleup, but once you get these three things in place, your development should become monumentally easier.
If you're still struggling to build your business, check out our future scaleup articles for even more help.
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