Scaling is an integral part of any company or business, whether it is well established and big or just a startup. In professional life, one has to always be prepared for the opportunity to scale and expand. Especially as a start up in its early stages there is a constant opportunity for growth. If you look at current start ups in India such as Zomato, Ola and Food Panda, it is quiet evident that scaling is a matter of precision and planning and that opportunity will knock on your door anytime. But are you ready to make the most of that opportunity?
Can be slightly daunting
As a start up, scaling for the first time can be slightly daunting. Expanding your business is a huge task, and one that you would like to accomplish successfully. To make the transition methodical yet smooth, you should have a framework in place for dealing with all kinds of questions and problems that might arise. Also, it is advisable to have a roadmap in hand before you start expanding. Knowing how you want to proceed further will help you make the right decisions since you will know what direction you want the company to go.
Whether it is with investors, your co-founder, current employees or new employees, communication should be honest and direct. Discuss plans to scale with your co-founder. Once you both are on the same page, communicate with your investors about how you plan to put their funds to use in expanding the operations of the company. Above all, your employees make your company. Talk to existing employees about your plans to expand and their role in it. To future employees, let them know you are in the process of scaling while interviewing, so they know what to expect.
Trust your employees, trust yourself
Scaling involves a lot of work that you cannot accomplish if you are managing everyday tasks at the company. Trust your employees and trust yourself that you picked good people to work at your company and delegate. Let them handle day-to-day operations while you bring together the plan to help your company expand.
Mentors, advisors and investors
There’s no shame in asking for advice when you are taking big steps for the first time, especially as a company. There are mentors, advisors and investors who will be able to give you advice about the do’s and don’ts of scaling. Asking for advice does not necessarily mean following it, it just means that you are open to suggestions and willing to learn from others.
Road map for scaling
Your finances keep your company running. While making a road map for scaling your company, also include the financial situation of your company. Are you in a good place to make such a big change? Do you have cash reserves in case of emergencies? Scaling and expanding is good, but it also brings with it the possibility of failure. As a leader, you have to be prepared for both the possibility of success and failure.
Scaling can be a huge challenge, one that can be tackled with planning and foresight. Make sure you follow the steps necessary before you start scaling. Always be prepared for opportunities that might present themselves. If you re prepared, you will be able to make the most of these opportunities while making your company a huge success.