Small Business Advice: The Basics of Scaling Your Business

Posted by IanDSmith under Management
From http://blog.equifax.com 4162 days ago
Made Hot by: fundpr on July 3, 2013 11:21 am

There’s more to a successful business than free cash and killer marketing strategies—sales growth is what truly drives a business forward. But it can't be just about sales growth. It's about scaling a business to produce safe growth.

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Comments

Written by AngelBiz
4157 days ago

Managed growth is how I would advise small businesses to scale. Yes, customers would love to have you in more places or expand your product portfolio, but if you don't have the operational prowess to maintain the key ingredients that made you successful in the first place you will eventually lose that competitive advantage and eventually lose customers and sales.

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Written by IanDSmith
4162 days ago

Heather to emphasize the point, only yesterday I was in a lunch meeting with a successful consulting business with $3m in sales who wanted to scale to the next level. As I pointed out their business would be less risky not more risky at $6m sales with a better spread of customers and profit.

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Written by HeatherStone
4162 days ago

Hi Ian,

From experience, I can say that scaling a business is huge and sometimes the hardest part. Though, of course, it is often the most critical aspect of creating a sustainable business that will continue to grow over time.

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