Scaling your company is important to always have a precise knowledge of the growth of your business. In every company, you have a set of metrics by which you measure the success rate and progress you are going, and in every company size, scaling also differs.
As you thrive and grow, your priorities change, your duties are mounting, and there is a need for a hundred and one different things to happen and take place in order for your organization to keep up and push your business even further.
Without scaling, you have no idea about the current status of your business, nor do you know what you should do internally to keep moving forward. An article I happen to read a few days past talks about the fundamental elements you have to consider when scaling your company and business.
Here is a summary of that article I am talking about if you do not want to read the whole:
*Reward and compensate your employees according to their skill set, education, and experience. When you grow, there is a need for the rest of your older employees to upgrade their abilities and skills in order to cater to your company’s needs. Overcompensating them even though they can no longer perform the tasks you demand from them will only negatively impact your productivity as a whole and affect your operation. When you are growing, your employees also need to grow in number in order to man all the added operations and tasks needed in running a growing company.
*I know you are thinking about cost saving in terms of employment so you decided to slash your HR manager, but if being frugal and tightfisted only serves to affect your productivity, then it is not serving any beneficial purpose at all. Plus a growing company means more people to manage. If you decide to handle it on your own, then you leave no more room in attending to more pressing matter that concerns your company growth because you are busy firefighting your HR problems. HR managers are also good advisors when it comes to what is the next big step concerning your manpower. So don’t skimp on this aspect.
*Document your processes and create a database that every team members can easily access. Process documentation and an easy access to them whenever your employees need them are essential to your company’s productivity and overall growth. Process documentation helps make your employees become more efficient and well-verse in your daily operation.
*Set the right metrics and parameters when it comes to your business. These two ensures that your business is running even when you decide to take a fitful sleep or go an indefinite vacation. Metrics are your way of measuring your company’s success and whether you are achieving them or not.
Experts and successful business owners cannot stress enough how important scaling is to a business, especially for startups. So, if you hope to move in the right direction, you should think about starting to scale your business as early as possible.
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