2. How to Scale Up?
It is important for start-up to choose the right strategy for scaling up to avoid
making unnecessary mistakes. Strategies and planning of scaling is very
important as it gives direction to start-up on what they want achieve, where they
to go or how extend should scale up with the timeline associated.
3. Building the right team for the growth
You need to hire more people different skills, different background,
experiences
Make the employees understand the goals
Blending the team from startup and scaling team members
Bigger team, start managing the manager
You need objective how can be better as CEO
Hire someone that can make you better, coaching to next generation
For example - Steve Jobs, Mark Zuckerberg, Bill Gates step back when the
scaling started
4. Choosing a Growth Strategy
Discussing with customers what kind of product they are looking for and if
the product resolve their issues
Making customers as number 1
Beginning to think about acquisition rather than building from start.
Quickly make the customer happy before the competitor comes in.
Creating a strong buyer, building long-term demand
Example :
Starbucks – sells coffee and provide privileges like the wifi, music treating
like family
AirBnB – scale quickly, diversified their product range to ensure they keep
growing
5. Creating a strong relationship
Stop focusing problem, Stop complaining
Focus on objective, Focus on solution
Create a plan and strategy to achieve objectives
Develop team members through training, teaching or coaching
Become a master of communication.
Good leader takes responsibility for the team's actions and their
consequence
6. Building the company culture
Creating a positive corporate culture
Able to attract many good potential employees.
People want to work for companies with a good reputation
New hires should align with your culture and values that brings diversity of
opinion, thought, experience and background
With good company culture, able to retain the existing employees
Re-inforce the core values that make up the central tenants of your culture is
key to keeping your culture thriving.
7. Creating a strong buyer and long-term demand
Focus on existing customer retention and repeat business.
Seek out strategic partnerships and collaboration.
Build your brand equity and relationships with customers.
Never stop hunting for new opportunities and new markets.
8. Automation & Innovation
Innovation is the ability to explore ideas of different and successful way
adding value to the market.
Innovation be used correctly in order to improve efficiency, productivity and
business performance.
Adding value to existing products, services or markets to differentiate the
business from its competitors and increase the perceived value to the
customers and markets
To get opportunities innovation incremental is conduct a search together
customers, identifying what they value most in their products or services and
what aspects is that they would like to see improved.
9. Automation & Innovation
Introducing innovation can help you to:
improve productivity
reduce costs
be more competitive
build the value of your brand
establish new partnerships and relationships
increase turnover and improve profitability
Start-up that fail to innovate run the risk of:
losing market share to competitors
experiencing steadily reducing margins and profit
falling productivity and efficiency
losing key staff
going out of business
10. Automation & Innovation
Automation technology lets you do more with less by allowing you to
streamline certain tasks and continue scaling without requiring additional
resources.
Saves time
Centralizes communication
Establishes standard processes
Provides enhanced visibility
Better utilization of human capital
11. Clear roles & responsibility
Start up need to define the roles and responsibility clearly although one person
may hold many hats
The Engineer
The Product Person
The Salesperson
Business Development
Marketing
Account Management/Customer Service
12. Focus on group deliverables than individual task
Group deliverables contribute to achievement on the overall objectives
Set targets for the teams rather than individuals
13. Consistent Communication
Mark Zuckerberg points out; communication is crucial element in helping his
company move forward.
Keeping open channels with your stakeholders and audience is extremely
important
Keep reminding them that you exist and are working on something exciting.
Social media and other platforms can be used as medium of communication
for constant updates.