Congratulations on building a successful business from scratch! Your services and products are in demand and the profit margins are good. But what next? ‘Scale-up’ of course! For any Small or Medium Enterprise (SME), the growth of their business is measured by scaling up while maintaining its profit margins. Most small businesses are in a hurry to grow, but the key is to take baby steps to ensure that you have both the operational and financial means to get through the next stage of growth. So, how do you go about it? Listed below are a few pointers every small business should bear in mind before scaling up.
The bottom line is that SME’s need to be prepared before embarking on the next stage of growth. Armed with these tips, you can now make informed decisions that are best to scale up your business. Good luck!