A crucial step in the scale up roadmap is evaluating your resources. As a scaleup, you’re working on a much bigger scale than as a startup, and with that come more resources. When scaling your company, this is crucial to making things work. Sadly a good idea goes nowhere without the tools and planning to execute it. Aspects to look at are:
- Organizational structure
Optimizing and utilizing all of these resources allow you to scale your business. When you don’t, it becomes harder to grow without hiccups and roadblocks. If your operation is smooth, you don’t have to worry about that. If your online environment works flawlessly, another thing less to worry about. Your team of employees also has to be sufficient. While, in most cases, you want to work smarter and not harder, scaling means much more work. With this comes the expansion of your team and the need to hire more people. Both the already existing and new employees have to be ready to scale and have to be able to do their work with the right resources. New employees bring new capabilities, and alongside the right resources, this results in another step closer to becoming a scaleup.
Most resources don’t come cheap. That’s why you also need to pay attention to financing. Funding is essential to scale up. Growth costs a lot of money. Depending on your goals and aspirations, the cost may vary. At the same time, those goals and aspirations can help you get the investors you need. Because depending on your current financial situation, you might need external investors to help out. Things to look at are; revenue, cash flow, and reserves. If you decide to seek external investors, you need to present a convincing pitch deck. If you choose to do everything with internal finances, make sure you have the right people working for you. Exponential growth in sales and revenue can also result in the same amount of extra finance work.