Every successful startup is bound to experience growing pains. You’re attracting more clients, dealing with a heavier workload, and wondering how you’re going to accommodate all the new growth.
But scaling up doesn’t have to seem so daunting, as long as you take the right steps before the increased demand.
Below, five successful entrepreneurs from Young Entrepreneur Council discuss their best tips for managing growth.
Know Where Your Efficiency Lies
Adrian Ghila, CEO of Luxe RV Inc.COURTESY OF ADRIAN GHILA
To accommodate for new growth, Adrian Ghila, CEO and founder of luxury RV rental company Luxe RV Inc., turns to automation. “In order to be able to handle a higher volume, a company must determine where it is being inefficient and what tools are out there to reduce the time spent on each task. Software is key in ensuring there is little or no repetition of tasks. Automate computerized tasks to use one entry of data for multiple necessary tasks.”
But when it comes to scaling, the biggest challenge, according to Ghila, is retaining quality and company culture. That’s why Ghila believes companies should make sure not to change their ideals or approach as they scale.
“Employee accountability can help, where a company involves each employee in the business’ successes so that they know their involvement and value contribute directly to it. Accurate data analysis is essential in this effort as well as preventing ‘premature scaling,’ such as hiring too many new employees or getting outside capital too soon. Scaling should be the result of growth, not what drives it.”
Source: https://www.forbes.com/sites/theyec/2017/03/28/how-five-successful-entrepreneurs-prepared-for-high-growth/#29a516271a0b
