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5 Tips For Quickly Scaling Your Business And Achieving Repeatable Growth

No matter where you are in the lifecycle of your company, fostering strategic expansion is one of the most important things you can do to ensure a prosperous future for your organisation. Increasing the number of revenue streams can certainly boost your income, but it also necessitates internal growth inside the firm itself in order to be successful.

Unfortunately, a significant number of would-be business owners fail to appropriately address the numerous difficulties (as well as opportunities) connected with laying the groundwork for recurring growth, which can ultimately lead to the utter collapse of the business itself.

I recently had the opportunity to interview Josh Strebel, CEO of Pagely, along with fellow guest Christian Brink Frederiksen, co-founder and CEO of LEAPWORK. During our conversations, the topic of locating a growth model that is both sustainable and profitable came up numerous times.

During the course of our discussions, it became abundantly clear that there are a few key strategies that can significantly assist entrepreneurs in unlocking repeatable growth channels. While it is true that any type of business has a lot of work to do in order to scale successfully, this did not change the fact that there is a lot of work to be done. These are the approaches that can be taken.

1. Solidify Your Unique Positioning

As Strebel mentioned in our conversation, Pagely did not achieve its current level of success overnight. Strebel identified positioning as the primary contributor to the expansion of the business, which took place over a period of five years prior to the company’s breakthrough.

“Once we established our strategy and determined where we stood in the market, it began to resonate. We had no intention of competing with the many fast followers that were already out there. We analysed our market, identified our “blue ocean,” and came to the conclusion that this is what we do, and we are the industry leaders in this area, which demonstrates how we are in a class all by ourselves. Then all of a sudden, month after month, for a considerable amount of time, there was an increase of one hundred per cent.

If you want to scale your business, even if it may sound easy, you will need to demonstrate to potential clients your one-of-a-kind value proposition.

You won’t be able to pry them away from your rivals and position yourself as the go-to resource in a new service area until you do this. If something needs to be adjusted, you shouldn’t be hesitant to make little adjustments to your positioning.

2. Let Automation Share, The Load

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The inability of the existing personnel to keep up with the expansion of the customer base is the root reason of the failure of many new businesses.

During this period of the company’s development, it is vital to hire additional staff; however, business owners should also consider adopting automation to reduce the amount of work they have to do.

According to Frederiksen, “A lot of work that is done on computers is laborious, repetitive, and uninteresting; nonetheless, it is also unavoidable in the workplace of today.” “This may cause you and your workers to become distracted, which raises the likelihood that you will make blunders that are financially detrimental. You will also end up losing time that you could have spent concentrating on other, more vital activities instead of doing this.

This is one of the main reasons why LEAPWORK was created. Developing automation flows can assist with a wide variety of endeavours, from distributing software patches to providing assistance with sales chores.

Even something as simple as automating data entry can save your team several hours every week, providing them more time to focus on the more important big picture components of developing your business.

3. Get Your Existing Customers To Market Your Business

Pagely’s advertising efforts are remarkably understated for such a successful company (with annual revenue of eight figures).

Strebel provided an explanation by saying, “It’s still word of mouth, personal referrals, organic search, and other stuff like that.” Pay-per-click advertising is not something that we engage in at all. If we ever decide to try anything new, the monthly cost will be less than $500.”

Pagely is able to keep its advertising costs to a minimum in large part because of its powerful positioning, which enables the company to earn referrals from advertising agencies and other businesses at the precise moment when Pagely is the appropriate solution for the brands of those agencies’ respective clients. Because they have had nothing but good experiences working with Pagely in the past, they are more than happy to recommend the company’s services to people they know.

You can always encourage your present customers to spread the word about your business by providing them with special discounts, free service offerings, or even an affiliate scheme. Of course, this is something you can do.

These recommendations have the potential to bring in new clients who closely fit the profile of your ideal audience. Even better, it doesn’t cost nearly as much as an expensive advertising campaign would, ensuring that activities related to growth won’t put a strain on your financial resources.

4. Maintain Quality And Consistency

According to Frederiksen, “one of the main difficulties I find with firms seeking to scale is that they allow their product quality or customer service to suffer in order to get new consumers.” This was one of the explanations given by Frederiksen. “You can’t afford to slack up on the qualities that were important in bringing in your first clients. You should always put the quality of your products and services at the top of your list of priorities, even if doing so requires you to get assistance from a third party. This mindset has served me extremely well at LEAPWORK, which has resulted in a great deal of success.

The culture of the company is absolutely necessary in order to steer clear of this scaling trap.

Making sure that everyone on your team is still committed to the aims and principles that you started with, as well as making sure that new recruits are buying into this culture, will help reduce scaling mistakes so that you do not alienate your consumers.

5. Don’t Forget The Long-Term

Maintaining a focus on the big picture while scaling your business is absolutely necessary; this is true even if you’re eager to see rapid expansion in the near future.

Strebel is quoted as saying, “The number one piece of advice I would have for someone trying to establish an online business today is to not give up,” and this is his top recommendation. “That may appear to be common sense, but I’ve observed that when individuals experiment with new activities, they only give it three months before giving up on it. There is no such thing as an overnight success in business… sometimes it takes much longer than you anticipate before things begin to come together.

Pagely’s expansion and the recent success it’s seen required a number of years of hard work and dedication.

As Strebel noted, there was a significant amount of time spent experimenting in order to determine the optimal growth routes for their company. But in the end, they were successful in achieving the outcomes they desired by adhering to a central concept and a consistent brand identity.

If you take into consideration all of these aspects, you will be able to establish the groundwork for rapid and sustainable expansion.

You may successfully scale your business and plan for long-term success if you focus on expanding your consumer base while simultaneously refining the internal structures of your firm.

What small businesses need to know about scaling and growth

When you manage a small business, you may frequently get the impression that you are performing a delicate balancing act between remaining within your established boundaries of safety and pursuing the expansion necessary to realise your goals and realise your aspirations.

It is without a doubt a difficult balance to achieve, but it is one that is attainable if you organise your company in the appropriate manner. Here is what small business owner Nancy Youssef thinks you need to know about expanding your operations and scaling up your company…

Get outsourcing – now

You should spend the majority of your time concentrating on high-value activities that provide a strong return on the amount of time you put into them.

You will be able to take on additional high-value work or grow the firm in other ways, such as by networking, if you delegate jobs with a lower perceived value to staff or independent contractors. This will free up more of your working hours.

Beginning with contractors is a great option for getting your feet wet in the world of scaling if you are not quite ready to take the plunge and hire full-time workers.

You won’t be tied down to long-term employment contracts, PAYG tax, or any of the other administrative difficulties that can come along with hiring personnel, but you’ll still be able to outsource some of your activities and evaluate how scaling the firm could benefit you.

Strategise your next 90 days

It is of the utmost importance to write down goals that are both specific and attainable. Having said that, you need to do it in a way that moves you ahead, rather than setting a gigantic, impossible mountain as a goal for yourself to conquer.

One effective strategy for doing this is known as “reverse engineering,” which is breaking goals down into more manageable chunks that can be checked off one by one to provide a feeling of success. Because you are concentrating on what you want to do in the next thirty, sixty, or ninety days, it is also simpler to recognise what isn’t working, which enables you to replace it with a more effective method as soon as feasible.

When those three or five-year ambitions appear to be so far away, this will assist keep you on track to achieve them.

Create a supportive culture

When expanding your business and adding members to your team, one thing that you need to keep in mind is how crucial it is to have a positive culture for your organisation. This helps your business expand by attracting the right people who share the same values as you, which allows you to grow in the way that you want it to.

And another benefit of happiness is that it tends to increase people’s levels of productivity, which means that you can rely on a staff that is both more effective and more efficient.

Embrace automation

When it comes to expanding and developing your small business, the people you employ are not the only factor to consider. In addition to this, you need to have the right mechanisms in place to keep everything streamlined and seamless. There is no room for overcomplicating things at this point in time.

This entails automating as many of your systems, procedures, and documents as you possibly can in order to cut down on labour hours that are expensive and human errors that can result in a significant amount of wasted time and money.

Manage ‘money stuff.’

You also need to have a solid awareness of the financial health of your organisation, which can be accomplished through collaboration with your chief financial officer (CFO) or accountant, or by the hiring of an exceptional bookkeeper. Forecasting is essential in this situation because it enables you to anticipate potential monetary issues, obstacles, or downturns in the market and plan accordingly.

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If you are in need of more funding, you should make sure that you are well-prepared by having a solid understanding of the various financial solutions that are available. You need to make sure that you have access to your financial reserves, an overdraft, or something else that you can rely on that will not suffocate your business but instead provide you with the financial oxygen you need to keep breathing so that you can continue working towards your goals and keep expanding.

Protecting your company (and yourself) with insurance that is appropriate and sufficient should be another one of your highest priorities. This is not an area in which you should try to save money; I could give you so many tales of businesses that went bankrupt because the owners didn’t take insurance and compliance seriously. You shouldn’t try to save money in this area.

Seek solid advice

You also need to have a solid awareness of the financial health of your organisation, which can be accomplished through collaboration with your chief financial officer (CFO) or accountant, or by the hiring of an exceptional bookkeeper. Forecasting is essential in this situation because it enables you to anticipate potential monetary issues, obstacles, or downturns in the market and plan accordingly.

If you are in need of more funding, you should make sure that you are well-prepared by having a solid understanding of the various financial solutions that are available.

You need to make sure that you have access to your financial reserves, an overdraft, or something else that you can rely on that will not suffocate your business but instead provide you with the financial oxygen you need to keep breathing so that you can continue working towards your goals and keep your expanding.

Protecting your company (and yourself) with insurance that is appropriate and sufficient should be another one of your highest priorities. This is not an area in which you should try to save money; I could give you so many tales of businesses that went bankrupt because the owners didn’t take insurance and compliance seriously. You shouldn’t try to save money in this area.

5 top tips for scaling your business

If you own or run a successful firm and are searching for prospects for expansion, one option to explore is expanding the scope of your operations.

Scalability can only be achieved if one possesses both a tried and tested concept and dependable infrastructure. But as soon as you are certain that you have checked off all of those boxes, you can begin planning to scale!

Benefits of scaling a business 

Consider your company and ask yourself this question: “Are we simply fulfilling expectations and easily achieving our goals, or may we challenge ourselves to think on a larger scale?”

The opportunity to boost sales with relatively little effort is the primary draw for expanding a business to a larger scale. However, there is more to the story than just straightforward sales…

Scaling your firm effectively helps you to perform the following things:

  • Manage the expansion of the market without taking on excessive risk (such as inability to meet demand, employee turnover, or financial risks).
  • Because the capabilities and systems required are already in place, it is possible to quickly launch new goods or train new employees.
  • Manage the company without the assistance of the company’s founder or its senior management.
  • When there is a need to expand services or move into new areas, it is important to maximise the use of existing assets.
  • It is important to provide a consistent experience for customers, so they are aware of what to anticipate and can be kept happy.

Scaling a business is not the same as expanding a business; before we get into our top five recommendations for scaling a business, it is essential to understand the difference between the two.

Growing a company involves expanding in terms of revenue, the number of employees, product offerings, and market share. Growth can frequently result in a significant drain on available resources.

Increasing a company’s revenue without significantly increasing its resources is the primary focus of scaling a firm.

Therefore, the key to successfully growing your business is to focus on optimising systems and adjusting processes so that your company can make a smooth transition from a small to large size without any disruptions.

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Five tips for scaling your business

  • Evaluate your current position

Be truthful about the current state of your company, and keep your expectations for the future in check. The next step is to evaluate the potential for expansion of your company.

Will the systems of your company, as well as the infrastructure and the personnel, be able to handle the growth?

Having a firm grasp on both your objectives and your resources is essential to achieving successful scalability.

  • Consider the steps that must be taken in order to boost your sales.

Create a list of all the different methods you could increase your sales. Examine which of these techniques may be made into standard operating procedures because having standard systems in place will enable you to swiftly introduce a new product and efficiently integrate new team members.

  • Look for ways to automate the procedures you use.

Therefore, common operations that can be automated are the golden ticket to successfully scaling your firm, as we touched on in the last section. You want to design your systems such that they can function with as little input from you as feasible.

  • Utilize modern tools to your advantage.

If you refuse to acknowledge the enormous potential benefits that new technology offers, scaling simply will not occur. Why? Because getting ahead is a lot less difficult and expensive to do when you have the appropriate technology to help you.

Integrating systems, automating processes, and streamlining operations allows a company to grow revenues with minimal additional labour. This process is referred to as “scaling your business.”

  • I want to see the money.

It’s true that in order to make a lot of money, you need to spend a little money first. It is crucial that you invest in your growth strategy. It’s possible that you’ll need to make some staffing or equipment purchases, as well as investments in new technology.

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