Why Scalability is Critical to Your Business’ Success in 2015
Growing your business should be at the top of your list of priorities for the New Year. And if you’re like most entrepreneurs and emerging company owners, there’s a lot of work to do. But where do you begin? Setting goals for a new year always seems to start out strong, but then lose a bit of steam as the year goes on. That’s why it’s crucial to come out swinging from the get go with a sure-fire plan, and measureable results. One of the biggest goals I recommend for 2015 is to make your company more scalable. Scalability is critical to success on so many levels, and it’s so easy to overlook if you’re not careful. Here’s why.
Work smart, not hard
Nothing hurts a company more than wasted energy and resources. If your company is small, or just starting out, this is especially true. While making mistakes is normal for any growing business, reducing your errors, and waste, is essential to keep you going on the right track.
Efficiency and scalability are critical to success, because you can gain a much bigger yield out of your efforts. Working smarter, not harder, can help you do that. What’s the best part? It’s free, if you learn how to plan correctly. Being clever and innovative with your product or service can save you time and money, and all it takes is the right strategy.
Ditch tradition for efficiency
One of the key factors of achieving your new “scalability is critical” mantra for 2015 is looking at how you deliver your product or service differently. Using efficient crowdfunding techniques will help get you started. In order to be efficient, you need to take advantage of the resources you already have, before venturing out to look for new ones. Use your existing network to help connect you to quality investors. Use those investors to help connect you with other investors. And only use outside resources that connect you with the best investment strategy and crowdfunding available, without requiring a heavy commitment from you in return. In other words, look inward, and maximize what’s right in front of you to find efficient solutions to complex problems.
Offer an experience, rather than a product or service
Another example of why scalability is critical is how you tackle adaptation to new markets. Much like businesses, people are evolving in the way they set their expectations for a product or service, and you need to stay on top of it. One of the best ways to accomplish this is to reuse existing resources instead of implementing or seeking new ones. In other words, increase your output while reducing your external input. This is done through something known as “transformative scaling.”
According to author Murray Newlands of VentureBeat, “One way that scaling strategies work is by distributing products and services through existing platforms. An existing network or platform may be able to replicate a product or service. This is especially helpful for non-profit programs who are already limited in regard to resources, but want to reach as many of those who would benefit from the program as possible. A small non-profit may be able to piggyback on an existing network, especially with the availability of cloud computing to get their message to a wider audience than they could otherwise.”
Don’t just succeed; innovate
By scaling your business and taking advantage of easy-to-reach resources you will be giving yourself a huge leg up in 2015. And while scalability is critical to achieving this, it can’t be done without innovative thinking. Step back from what has worked in the past, and improve on it. Lose the negative energy and waste. Make your goals measureable, and sustainable, and you should have great success.