There is method to grow is to add the business by adding some more figure and there is another way to expand business is by doing multiplication of business. We will look today for multiplication of business means. Following this blog will help your business to grow by 100%, 200%, 300%. Scalability means when your business can continually grow without your presence, it means your business is scalable now. When a company can run without your presence or much of your time and input means your business is scalable now
- Never leave the sure for unsure – When people try for scalability, first it need to have sustainability. When people look for scalability many of them get dead before it reach to a next level as there is no sustainability. When your business looking for expansion you need to assure the business stability and need to design continual revenue generation model, failing to do so will lead to a death of your business. So first you be to have sustainability with minimum operating profit and then you need to opt for scalability. One your business is Stable and regular profit is generated then you can invest your external fund.
- Prepare recurring revenue generating model: Make sure irrespective of your product every business have scope of generating recurring business and assure profit. Work on it. Develop one and have assured stability.
- Profitability is nothing but a combination of good product and good people. You may like to eat Burger of your local brand, because it taste good or may be better than McDonald, But not able to expand the business the way MacDonald did because the business Process orientation is missing .
4. Profitability is outcome of product + people while scalability is outcome of process orientation.
- In every business People focus on the front end business however to scale up your business you need to focus on the Front end as well as on the back end, Back end means establishment of process so that your business can run without you, Front end = People + process Back end = process orientation (Standard Operating procedure, System of Efficiency, Quality control, and capability of physical to Digital)
- We have great entrepreneur in India , but there are many thing missing in Indian entrepreneur and global entrepreneur , Global entrepreneur will like to establish system , DOP, Quality, Product certification, system certification, Patenting m, royalty, while many of the Indian entrepreneur talk about cash transaction, How to save margin, Back money cash , Indian entrepreneur very think beyond this and hence they never grow.There are many business started from a small cottage industries and presently they are market leader, to do so you need to focus on process orientation, What business people make mistake is they want to scale up everything in their business you need to identify what exactly can be scaled up
- The most important rule of scalability will be you should think big. The more you will think the more right and great ideas you would get for what you need to scale up. If you think to plus your business it won’t work but if you think to multiply your business you would get great success. Don’t think to only get profit think of how you can make your business grow. Like Mac Donald is not famous for its Burger it is known for how they sell billions of Burger in the world