Brilliant people with innovative ideas are the bloodline of entrepreneurship. Not only do they bring amazing concepts that improve different facets of our day to day lives, but they present new opportunities for employment and contribute to the economy in multiple ways.
Unfortunately, a brilliant idea does not always translate to success. In fact, according to statistics 9 out of 10 start-ups fail. That is 90% of all start-ups in the USA. There are a multitude of reasons why businesses do not succeed, and just because an entrepreneur is successful, it doesn’t mean that they haven’t had their share of failures.
If you have broken past the point of survival, then the next step you want to look into is probably growing your business. Many struggle to scale their businesses and break into the next level. Statistics show us that 40 percent of small businesses are profitable, 30 percent break even and 30 percent are continually losing money.
Scale Virtually is backed-up by a team that has over 20 years of collective experience in building companies that have generated over 40 million dollars in revenue. Through the years, we’ve gleaned wisdom from our missteps and triumphs and bring the expertise we have gained to you. A vital piece of the puzzle to finding success is establishing three essential pillars that will fortify your business and help you advance to the next level while aiming for higher goals.
Finding the right people who have the talent and skill to perform their roles impeccably is one of those pillars. As a business owner or entrepreneur, it’s easy to fall into the habit of hiring family or friends over looking for a perfect fit. It may seem like the easiest and most logical step, however, it may hurt your business in the long run. While hiring someone within your circle seems convenient, you mustn’t let the ease triumph over the need. From the get-go, you need to find someone who possesses the skills, experience and personality that you need to advance your business. There are many challenges when looking for someone who fits the bill perfectly. From posting the want-ads, sifting through resumes, interviews, etc. the process can take a lot effort and resources, and sometimes, you still might not find the right person. This is where a company like Scale Virtually can support you. Not only will you have access to an amazing pool of talent, but you can be assured that you will only see applicants of the highest caliber who have already gone through a vetting process that is at the top of the industry. All you have to do is choose someone who fits your company culture. You also need to keep in mind that training and working with your hires is an important factor. You need to put in that work to ensure that somewhere down the line, you can leave your people to do their job without you having to look over their shoulders all the time.
A system is only as good as the processes built around it. Furthermore, it is through building processes and consistently improving them that a business can find its way to growth, as well as foster the enhancement of performance and aid in solidifying strategic plans to promote success. This is crucial to ensuring excellence in the service you provide to clients and customers. By creating a process that is as foolproof as possible, you can create consistent results and go beyond the expectations of the people you are servicing, thus boosting your credibility and subsequently increasing your business. Efficiency and accuracy is imperative when building a process and this only happens over time as it is implemented and consistently tested. This is another pillar that needs to be established within your business. Scale Virtually has the experience in building processes for highly successful companies and can help you create ones that not only actually work, but bring you to the next level of success that you wish to reach, and beyond.
The tools you use to manage different parts of your business is another one of those pillars. You can have the best data and a clear vision for how your business will thrive, but if you don’t have the right platforms to execute these ideas, then they will continue to remain just that. You need to take a look at different branches in your business tree and figure out what you need to establish the efficiency of each branch. Over the past decade, there have been so many new tools and software that boast a multitude of features to help you run your business and it can be challenging to sift through them all. Many elements must be considered such as cost and how optimal and sustainable each product will be. If you spend money on a product that has a hundred-and-one features but can really only use about 15 of those, then it may be inefficient. Scale Virtually has experience with first-rate platforms that can be tailored to your business’ needs. Part of our objective to help you grow your business is to find optimal products that will suit your needs best.
There are numerous factors that need to be dealt with in order for a business to thrive and grow. In the current climate we are in, we need to be flexible and open to alternative approaches to running our business to push beyond mere survival. Establishing these three pivotal areas will be the groundwork to doing so. The best part is that Scale Virtually can help you.