Growing and scaling a business?
Growing a company is the ability to add money to the turnover but to achieve this you have to scale all aspects of your operations, your team, your payroll, your marketing etc. Growing a business takes a lot of time and resources to scale to a large business regardless of what industry you are in, as you increase your client base you are always going to need to grow the infrastructure of the business.
Scaling a business is the art of increasing revenue without incurring significant costs. This can only be achieved once the core base of the business is created for example you have systems in place for all aspects of the business including all training plans for every position.
A significant number of business owners are able to see incredible growth in the first few years of business because they do not have enough data to benchmark themselves against for example because of their enthusiasm alone they may be able to generate £80,000, £150,000 or £250,000 in their first 12 months however once you have been trading for 4,5 or 6 years are you still able to grow at the same rate? We would expect to see the growth rate of any business start to plateau after 3 or 4 years. This is because the business now needs to start bringing on team members that the business owner no longer has sole control over, maybe there are now a few levels of management, or maybe they have opened another location.
Scaling your business is one of the hardest things to do, most businesses when they try to move from growing a business to scaling just add a larger area or more services. The real art of scaling a business is the ability to scale to multiple locations regardless of where the owner is located.
At Bailey Dean, we are able to support you in the growth and development of your systems manuals meaning you will be able to scale.
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