Growth and expansion is the name of the game for all burgeoning businesses; but with unprecedented growth comes unprecedented issues of scale. As you face these problems these three interconnected principles will help solidify your position as an emerging force in your niche.
— StartUs Magazine (@StartUsMag) February 8, 2018
Expand the Team.
If you’re a scrappy new start-up you’ve likely gotten by with a skeleton staff. A couple of co-founders with a bright idea and a family friend along for the ride, perhaps? Well – now is the time to bring in outside help. This isn’t just outsourcing (though its value cannot be overstated in reducing your own burdens) but biting the bullet and making a hire. New blood means new ideas and new enthusiasm and helps legitimise you as a growing company – one that will last the ages. A great idea is no guarantee of success – you need to ensure you lay the groundwork for sustained success. Pinching the pennies isn’t enough, you need the safety-net of a team around you to help navigate the choppy waters. If you can ensure they buy into and believe in you, your company, and your ethos you’ll be set for future successes with a dedicated team who’ll weather any troubles you face.
You’re Out There Now. Keep Yourselves There.
Now that word of your services has reached your client, your product needs to too. Whether or not you’re a primarily digital business, investing in the correct infrastructure is vital. You’re not in your garage anymore, and your network should reflect that. Business-grade internet is simply a must these days. Downtime for your website is lost revenue, pure and simple, so alongside getting your internet secured, you’ll either want a dedicated business site team (a cheap-to-setup website is not enough) or, building on the earlier point, hire some devs of your own. The freedom and flexibility this will provide you can’t be underestimated – you can create your own environment and software for customers to use and will really help your business stand-out amongst the slew of one-page business sites out there.
In tandem with your digital efforts, you can’t neglect the physical. If you’re selling a physical product it has to reach your clients. Investigate alternative shipping options to ensure both efficiency and savings. You may think that you’re limited to traditional land-based shipping, but when chartering a Convair CV-580 costs less than you’d expect you aren’t as limited as you’d think.
You’ve gotten past the start-up stage and you’ve done so with your shining idea and the drive that it has given you. Unfortunately at times sense has to overwhelm passion, and this may be the case here. Chances are you’ve gotten here by being, as this article says, ‘missionary not mercenary’ in your commitment to your idea – rather than being driven purely by profit. As you’re responsibilities expand, so too must your scope and flexibility – if a prime opportunity presents itself adjacent to your current niche grab it! You may feel experienced, but in the grand scheme of your company’s growth you’re still just finding your feet and flexibility at this time can help you spread both your wings and your influence. You’re bringing in new people anyway – lean on their experiences in adjacent sectors to really help secure your base.
It won’t have been easy to get here, and it won’t be easy going forward, but you can overcome the attendant growing pains to really cement yourself and your business as the true up-and-comers in your sector.