Scalability is a term people often use in business, but what does it mean? It’s not wrong to say that it refers to ‘growth’ but it’s more than that. Versatility, agility, flexibility—all of the things that prepare your company for expansion as well as unexpected changes in the economy and beyond.

What is scalability in business?

Again, growth is not the same as scalability though it does play a part. Your enterprise might be growing now but it will fail in the long run if you’re unable to meet the increased workload. Scaling means being able to handle the greater demands of your business in a cost-effective manner.

The objective is to become comfortable with the increased output, users, and customers. Then, you must deliver your goods or services at a faster pace without overstretching your employees or yourself. Every business, especially start-ups, must look at scalability rather than profit growth.

Why is scalability important in business?

Many entrepreneurs think that scaling doesn’t matter because it will happen naturally in the future. If you’re of the same thought, you need to think again. Scaling inappropriately means your company is unable to meet its maximum potential, or worse, fail altogether.

Here are the main benefits of growing your business by scaling:

• It allows you to meet customer demand which boosts the reputation of your brand and increases sales.
• It helps you establish milestones to make strategic decisions and determine next steps for growth.
• It improves your efficiency by implementing new technologies and streamlining business processes.
• It enables you to maintain your position in the market and stay ahead of your direct competitors.
• It helps you to maintain good relationships with your current and future partners and investors.

How to scale your business

As tempting as rapid growth might be, you may lose focus on the things that really matter thereby getting tunnel vision. Growing a business must be done as meticulously and thoughtfully as possible for lasting development. If you’re unsure where to start, consider the following business scaling strategies for 2023:

Clarify Your Goals

Without clear objectives, you end up overwhelmed or confused about where you want to go and may put yourself on the road to stagnation. Making your goals clear gives your business immense purpose and momentum. It also ensures that you’ll make choices based on what you want to achieve.

Begin by asking yourself questions like where you see your enterprise to be in 5 years or 10 years. Next, set a timeline to prevent procrastination and encourage you to meet your short-term milestones. Make sure that you’re setting specific goals that are realistic rather than something vague and outlandish.

Evaluate Your Business Model

Like how you need a regular check-up to ensure your health, your business model needs regular evaluation to ensure that it’s aligned with your goals and target market. This means making small adjustments that add up over time, but it might also be necessary to make a complete overhaul of the model.

There are different kinds of business models, although modern entrepreneurs develop hybrids that incorporate multiple features according to their needs. There’s the brick and mortar which is the oldest model, then there’s the online delivery model which boomed over the pandemic. Direct sales and multi-level marketing are also types of business models.

Develop a Scalable Plan

If you’ve determined that you’re not happy with your current business model, try building a scalable business model that’s better suited to your unique preferences. Start with hiring strategically so you have a reliable team. Look into the impact of hiring remote staff for business growth, for instance.

Building healthy and tactical partnerships with existing market leaders is a good idea. The same may be said for investing in marketing and advertising especially on virtual platforms or social media. Outsourcing repetitive tasks to third parties is also great for scaling at a faster rate.

Build a Strong Team

We’ve mentioned above how putting together a good team is crucial for scaling your business. When you hire people who work well together, they take advantage of each other’s strengths to achieve your team goals. Building a team sounds easy but it takes skill to create a successful one.

Rather than find someone to work onsite, scaling your business with remote teams might be better. There are many benefits of hiring remote staff for scaling, such as saving money on additional office space and equipment. You also get access to a wider pool of talents instead of being limited to geographical location.

Focus on Marketing and Sales

During the peak of lockdown, many businesses realised that they cannot afford to rely on traditional media and methods for marketing. 2023 is a good time for any company to utilise all the digital channels available today. Something as basic as maintaining an active presence on social media is helpful.

You also want to acknowledge every review and feedback you receive from customers to improve your reputation. Consider partnering with influencers and advocates to promote your products or services, if you have the budget for that. Participate in industry shows and conferences when you’re able too.

Invest in Technology

One of the best ways to ensure that your growth is sustainable is by using technology for business scaling. Check what kind of tools you’re already using to make your processes more efficient. If you aren’t using any, now is a good time to research which software and hardware works best for you.

Also, learn to embrace artificial intelligence and automation to boost your capacity and serve more clients. Machine learning and natural language processing tools tend to be more scalable compared to other kinds of technology. Go paperless where possible, especially when part of your team still works onsite.

Monitor Performance

There are many benefits to monitoring business performance for growth, including improving your processes, tracking the progress of your strategies, and informing you of potential risks. It also enables you to make smarter decisions regarding your business since you have data to refer to.

To measure business performance, go back to your goals and see how you’re matching up to them so far. Establish reliable key performance indicators or KPIs, be it the number of new customers, average weekly sales, and so on. Make forecasts based on the data you’ve collected to boost your chances of success.

Be Agile and Adaptable

Scalability is also about being able to react to changes in the market or economy. This is why it’s essential to make your enterprise more agile and adaptable. One way is by focusing on fewer priorities rather than filling your list of to-dos.

Create an autonomous company culture where your employees make decisions for themselves. For instance, if you’re thinking to hire Filipino remote specialists for the first time, inform your recruitment manager that you don’t have to sign-off on all of their activities. Let them perform the initial screening and interviews themselves.

Scaling your business with remote teams

Although scaling your company across different countries, states, and cities sounds difficult, it may position you to better face the challenges of growing your business. Remote work has become a standard, especially in the new normal. Many global organisations like Zoom and Github are following this employment model.

With many workers choosing to stay remote, you have better chances at hiring skilled people online too. Remote Workmate is ready to provide you with candidates for whatever position you want filled. Not only are we connected to top talents but also we conduct orientations and training.