Is Your Business Ready To Grow?

Scalability is understood as a business’s room to grow. Its ability to handle increase market demand while at the same time managing increased profit margins and sales. Truly scalable businesses will always be ready for more customers, more data, and more resources, but we can’t get there overnight.

Among small business leaders, 88% are looking to scale up by increasing their revenue in the next year, but it’s hard to say how many will actually hit that goal. Commonly in very small businesses, daily operation costs and overhead increase too much when faced with extra growth, preventing this growth from lasting. Other times, it’s the internal systems and lack of personnel that are unable to meet the demands of growth efficiently. And yet sometimes the biggest force working against scalability can be the business leaders themselves who insist on micromanaging decision making and doing all the work on their own

From 2015 to 2017, global startups generated well over $2 trillion in total value — 26% more than the prior 3-year period of $1.8 trillion. Though a force to be reckoned with, it’s not the inception, but the scalability of startups that means lasting success. Take a look at this infographic for more detail into the world of scalable business, how to manage growth responsibly, ensure lasting improved capabilities, and use that room to continue growing.