What worked for your organization during the growth phase need not work for you when you are scaling.
Scaling isn’t easy to do but when done right, it can bring great success to your organization and you as entrepreneur. To aid you in your journey to success, here is the first part of the CHECK BEFORE YOU MOVE FORWARD that every entrepreneur must know about when they are planning to start scaling.
Establish the perfect Product-Market Fit
Growth is a continuous process and scaling is the next step. As an entrepreneur, waiting for every process to attain perfection before starting to scale is not an option. There are some kinks that will sort themselves out in time. But there are some kinks that have to be fixed before you begin to scale and sometimes, this is exactly where you as an entrepreneur may make a mistake with your product. Here are three pointers to check for with your product-market fit.
Ensure that your product has no kinks
A good product is simply not enough in today’s market. Customers are demanding more and kinks in your product will simply not fly with them. Make changes, test and test again until you have a perfect product in place. Then scale.
Know your customer’s
This is the most fatal error that an entrepreneur could make. Remember, your user need not essentially be your customer. Get your customer profile in place before you go into the phase of scaling or increasing production.
Is there a sustainable demand?
This is the most important question you must ask yourself. Will the product you are designing have a demand after 5 years?
Choosing the Wrong People to Work With
Sometimes, it is just easier to work with those who come your way. There is always a time crunch and an extra set of hands and brain is of great help. Whether it is an employee or a vendor that you are collaborating with, remember these are the people who will represent your organization in long term relationships with your customers. Be selective, only choose people who will work well with your company and it’s culture. If you have the good fortune of finding someone who has experience with scaling and still fits in with your organization, then rely on their expertise but never compromise on the culture and values of your organization.
Scaling Does Not Mean Outward and Upward
Most entrepreneurs believe scaling implies an increase in size and numbers. What they sometimes fail to see is that as they grow they will find some processes that do not work or maybe some departments that are not needed for the success of the business. It is essential to identify and resolve these potholes to ensure that you are building a sustainable business.
These are just the first three in the three part series of top scaling mistakes to come! Do you have anything to add to these 3 top scaling mistakes? Would like to ask us any questions about scaling and entrepreneur development?
Do leave us a comment!
And if you have a question on how you build a communication strategy for building a vision or communicating a change in focus, enter your details in the form below and we will get back to you!