MICRO KNOWLEDGE
Scaling
Eventually plans are made for a business to grow. This is where the term Scaling comes into play. Before attempt to scale your business, it is important to that you do not rush into it. Any business growth should stay in line with the mission/vision statement.
Do not just concentrate on the more revenue or market share you are after. You must also ensure you have the correct processes and infrastructure place to handle such growth. Also do you have the correct number of personnel in key positions to handle such growth. If not, you need to make plans on how address the above key areas of concerns.
Key Take Aways
- Do not rush into growing your business.
- Do not just focus on the revenue and market share increases.
- Use your mission statement as compass as you prepare to grow your business.