Scaling Your Business: Developing Your Business Service Offering
Updated: Dec 16, 2019
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 start-up 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 start-up is even more relied upon as you are planning to scale your business.
There are going to be a plethora of questions and concerns at the initial stages. Just as a shark’s continual movement is critical to its survival, so it is for a start-up 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 civilised 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 maximise your business service offering for your scale-up.
Tip #1 – Get the Timing, Product and Service Offering Right for Scale-up
Have you carefully considered and planned for the scale-up?
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 scale-up.
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 be facing new competition which may equal or already be a more extensive operation than your planned scale-up.
Make sure your scale-up is in line with your primary customers. These are the billings which 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 it may create new product lines to expand the customer base.
Tip #2 – Is Your Pricing and Business Model Still Right?
An increase in clientele is a likely reason you are beginning the scaling process, but it should also create a situation where you are re-addressing all aspects of the business.
A builder makes sure to know which are the weight-bearing walls before starting on an addition to a home and is a useful train of thought for the entrepreneur approaching the scale-up.
Infrastructure must be shored up, and then the next 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 start-up model may mean having to incorporate an advertising budget (business-to-business, business-to-consumer or BOTH!).
What part is social media going to play in the scale-up?
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 which 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 into further levels of success.
Make sure 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 as well as those seeking additional services which 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 start-up 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 scale-up articles for even more help.
To learn more about Noirwolf Consulting team, and how we can help you scale your business, contact us today.
Noirwolf Consulting is a global strategy and management consulting firm in Leeds. Noirwolf works with the UK and international clients to develop their comprehensive strategic plans and business transformation. We help entrepreneurs, small and mid-size business with creating business plans, optimise operations performance and productivity to grow their businesses.
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