5 Steps to Scaling Your Business Effectively
- Quality Management, Uncategorized
- BY tracy
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For some companies out there, current annual growth rates are sufficient, and growing organically without the active pursuit of scaling is enough to grow their business. However, we at Call Criteria feel that neglecting to make active attempts to scale is nearly a surefire way to be left in the dust of your competition. Scaling is
For some companies out there, current annual growth rates are sufficient, and growing organically without the active pursuit of scaling is enough to grow their business.
However, we at Call Criteria feel that neglecting to make active attempts to scale is nearly a surefire way to be left in the dust of your competition.
Scaling is aimed at reducing the amount of time it takes for a ‘small’ company to become a ‘big’ one.
It’s about creating a business model that quickly yet efficiently grows in order to generate significant revenue increases while minimizing expenses and resource expenditure.
Take for example industry giants like Paypal and Google and some of the seemingly overnight growth they and other companies like them have experienced.
These companies share several formulaic elements in their respective business models that allow them to keep powering forward at sometimes unbelievable rates.
One of the most challenging parts of scaling your business or contact center, hangs in the balance between massive growth and what your current resources can handle.
While you’ll almost never avoid suffering the growing pains of scaling your business, there are ways to do so sustainably, ensuring your company stays in the game for the long-haul.
Step 1. Create a plan
Start by asking yourself the following questions to help guide you through the rigors of scaling:
- How can I train my team to prepare for increased engagement and responsibilities?
- What sort of technologies and processes will be needed to scale?
- Which obstacles stand in my way from reaching the levels of growth I’m looking for?
Having answers to these questions will allow you to see the bigger picture, and help identify potential roadblocks to growing and scaling your business successfully.
Step 2. Build the right relationships
If you want to scale up your business, start by surrounding yourself with some of the bigger players in your industry.
Attend large networking events and conferences and try to work your way into the elite circles.
Getting your brand out there and exposing yourself and your brand to others in your space is a great place to start.
Embedding yourself in the right networks will allow you to find potential clients and acquaint yourself with the right investors needed if you’re looking for additional outside investment.
Step 3. Invest in systems that scale and drive efficiency
Look to utilizing technologies that will grow as you do.
For example, if you are using cloud-based storage, make sure your provider offers flexible pricing to afford you the speed and flexibility required to handle increased traffic on your website.
In addition, as you enter the stages of an increased client base, choosing a CRM that fits your business model can provide your business with the tools you need to properly manage your accounts effectively.
Step 4. Hire the right people
You need to hire people who can help you scale. The people you hire should have the following traits:
- Have a customer-centric approach
- Ability to align product development with market needs
- A focus on delivery efficiency
Still, you need to be ready to embrace the fact that with new hires, your old team is likely to change and adjustments will need to be made to accommodate that team evolution.
Step 5: Foster a balanced and realistic growth rate
Don’t make the mistake of trying to scale too fast, as you’ll very likely end up losing business as you try to juggle an overwhelming client base your resources can’t handle.
Remember, retaining your existing client base is just as important as adding to it.
Contact us today to find out how improving your quality interactions and agent performance can have a direct effect on your ability to scale your business into the future.