Have you ever thought about scaling your business? The truth is everyone wants a sustainable and successful enterprise, but can a small business achieve this?

To scale up a business is to grow and expand in a proportional and profitable way. Experts say that the path to success is not found in simply growing, but in scaling your business.

A business can expand economically, when it can take on an increased amount of work, while sustaining its efficiency. In other words, the business continually runs efficiently irrespective of the amount of market demand or expenses required to sustain it.

Many businesses are unable to develop and thrive, due to even avoidable challenges. While there may be a lack of resources, insufficient funds and other factors that affect scalability, a good strategy and operations can enable any business scale up.

Here are ways to progress in business even as a Small and Medium Enterprise (SME). The following will enable your business to scale up.

1. LAY A SOLID FOUNDATION

   A good foundation lays the ground for sustainable development and business longevity. The helpful way to build a solid foundation is using a Business Structure. This helps to organise a business from the very start. The more organised the operating system is, including the intangible aspects, the operations handbook and what each role entails, the easier it is to run the business. An organised business structure helps to run a business effectively, in the absence of the business owner.

2. HAVE A GOOD GROWTH STRATEGY

   A business can only go so far when the owner is intentional about growth and actively pursues it. A good growth strategy cannot be overstressed. How much sales do you want to make? What are your profit expectations for an estimated period? Outline your business plan and strategize. Let this include details on advertising and marketing, product prices and discount options, etc.

   Your strategy should contribute to increasing customers and retention rate, validate products and raise demands, attract investors, and also enable business owners predict the revenue.

3. BRANDING

   The business brand tells the story of the business, as well as promote the products or services offered. A good brand will not only highlight the past and present successes of a business, it will give customers the opportunity to advertise on behalf of the business.

4. HIRE AND TRAIN EMPLOYEES AND OUTSOURCE SOME TASKS

   No one is more passionate about a business than the business owner. This can prove a challenge to some people, when it comes to decision making, giving up responsibilities and outsourcing tasks.

   To enable a company progress, it is important to delegate tasks. An entrepreneur can hire and even train employees, to carry each person along on the vision of the company. This will give each person a direct focus on moving the company forward.

   The average entrepreneur will be able to handle more demanding assignments when they hire employees to take care of some duties.

   For a small business however, it can cost more to permanently hire someone whose tasks are usually one-off such as software/website development, graphic design, human resources management, cash flow organisation, etc. In such cases, it will be cost effective to outsource such tasks to an expert or hire on contract basis for a brief period. This can help save on what could otherwise be spent extravagantly.

5. ENGAGE IN PARTNERSHIPS AND COLLABORATIONS

   Partnership and collaboration assist the growth of businesses involved. The importance of teamwork cannot be overemphasised. Have a connection of entrepreneurs who are like-minded, and would be interested in your business or service. Businesses can leverage on each other to reach the target audience, increase sales and grow their businesses.