4 Steps to Scale-up Your Business Successfully
Scaling-up business is a dream of every Entrepreneur. Yet only 4% of Business Owners are able to grow and scale-up their businesses.
Seemingly there’s no lack of intent. Then what’s preventing Entrepreneurs and Business Owners from scaling-up their Business?
Working with Entrepreneurs, Business Owners and CEOs for more than 17 years helping them scale-up their businesses, I have seen and experienced that Scale-up is a possibility for every business – if we get certain basic aspects right in the business! I am sharing those in this article.
Scale-up Business ModelTM has evolved working with numerous businesses of various kinds. When we execute, implement the Scale-up Business ModelTM in the Business, we enhance our chances of success significantly – we increase our odds to succeed substantially.
Scale-up Business ModelTM – (c) PK Narayanan 2016
Business Owners could create a support system around them to implement Scale-up Business Model for their business – This may include a Scaleup Business Coach and building necessary Scaleup leadership skills with the help of a Scaleup Coach.
The 4 steps to scale-up your business are:
- Setting the Direction – It’s about setting the compass; defining where to play – in terms of products / services, customer segment, price point, ticket size, Geography. And defining how to play – the differentiator, competitive advantage, answering why us, marketing, communication; leading to clarity on direction, milestones, and the road-map.
- Enablement – The next step is to build necessary competencies within the business, acquiring / building required talent, creating an organisation structure that would support the journey, creating appropriate roles & responsibility structures and providing clarity to the team.
- Reviews – Setting up appropriate review systems within the business at frequent intervals at multiple levels is extremely important to take stock of what’s happening and make course corrections as required pro-actively.
- Fitness – Creating and maintaining fitness amongst the people, the business and avoiding accumulation of fat at wrong places is a key enabler for scaling-up.
Once we consciously plan and implement these enablers in the business, Scaleup happens!
Business Owners could create a support system around them to facilitate the scale-up journey – This may include working with a Scaleup Business Coach and building the relevant Scaleup leadership skills with the help of a Scaleup Coach.
As a business owner, am I prepared to Scale-up?
figure out for yourself!
Simplify! Get things done!
And many more…