How To Scale up Your Startup Output: Tips for Entrepreneurs
Being a founder means you have multiple hats and you always working in a high-octane by managing a healthy environment. But it isn’t as easy as it seems to be, challenges to be a founder are coming up with compelling ideas, hiring talented staff, getting new clients. Instead, all this come down to one factor – lack of time. It highly affects the entire output level of the company in a direct and indirect manner. The only thing in this world everyone is blessed with equality is time. Hence, entrepreneurs can enhance their productivity or output level by emphasizing on result-driven actions in order to get maximum in short time of span.
As mentioned in the Startup Genome, approximately 74% of startups don’t succeed due to its premature scaling. Ironically, failed startups have often had a viable product and a wide range of loyal customers but also have troubling in scaling in the right way.
In this blog, we are going to uncover some critical factors which help entrepreneurs to scale-up the productivity or output level, as well as provide a path of a successful start-up.
Identify milestones- The first and foremost way to raise the output of your organization is to find out milestones. “To do this and do it well” – signifies that linking the capital with each phase of the company’s growth. Begin with identifying the milestones where you need to hit and develop a timeline for when you need to hit them. It enables to provide a fully budgeted roadmap so as to moving forward and allow entrepreneurs to plan the sources of fundraising. Instead of speaking with board members or investors, focus on those working arrears which consume more time and cost.
Automate everything- In this digital era, entrepreneurs need to upgrade their organizational processes and it facilitates in finding out the best solution of problems. Being an entrepreneur, you need to set up cloud storage that contains all your organization’s data and information as well as allow employees to reach easily. Set up a virtual training system for new and existing hires where can learn while working, it reduces training costs and makes things happen in a certain time period. Along with this, it also enables entrepreneurs to reach their target audiences and recognize their needs or wants.
Implement a continuous improvement approach- Improvising productivity is an ongoing activity, so as an entrepreneur you always have an effective improvement. To develop this, you can start with assessing the competition and best practices of industry; but don’t copy the plans of others’ formulate a one which one is suitable for your organization. Apart from this, take external help to assess business’s strength and weakness, it provides you certain priorities will be taken into consideration to get better results. Hence, a good improvement approach enables a startup to generate higher productivity and proficiency as well as minimize errors which automatically contributes to the rising output level.
Find your ideal customers - Identifying your ideal customer will take time. But this step and its inevitable mistakes help to your business towards sustainable growth and devoted customers. Yes, having ideal customers’ is also an effective way to scale-up the output level of the company because if employees know to whom they have to produce. I think they will produce in a more efficient and better way. But, ensure that not to sell in too many different groups. Along with this, you should be clear when communicating your business benefits to your buyer. Make them concise, attention-grabbing, and differentiated from your competitors.
Introduce Training through Mentors- Hiring mentors who can provide training is the key to scaling up the output level of startup businesses. Invest in your team by rendering them training and development sessions can act as a fuel to drive the performance level of your organization. Although, before hiring a mentor you should involve to address team weaknesses thus to work on them effectively. Also remember that as long as you will invest in employees, the greater the chances of improving the quality of work. By holding training sessions, you can also develop extra skills within the team that would pay-off in the long-run.
Practice Positive Reinforcement- Motivate, encourage and reward. Tell and appreciate employees that they are doing well and give constructive criticism. Most important, set personal incentives for doing the job well, like – they could get a free holiday or free coffee or lunch takeout to perform above or beyond their roles. You should clearly indicate the success of one employee to others nurture a way of fulfillment for encouraging them. While you encourage your staff to work harder to receive rewards reciprocally, they’re more likely to put increased productivity high up on their to-do list. Hence, having a positive reinforce also make employees able to perform in the required manner, it results in less errors and higher motivation within staff members.
Ensure Employees Are Happy- The last but not the least way of increasing the output level of employees is to make sure that employees are happy and satisfied with their job. A stressful working environment will not yield results. Sometimes, workers operate under high-stress conditions and found to be less productive. It results, the higher level of absenteeism and disengagement…. They need to be happy. All you can do, showing them company values them, appreciate their efforts on a personal and professional level from time to time is gratifying- and often overlooked.
Therefore, as a founder of the startup all you need is to emphasis on your business as soon as you’re planning for pursuing startup idea. Without scaling, you may end up with winding up the business and giving the edge to competitors to take your place in the market.
Scalability is a mindset too; make sure that you have the right processes and system, plans and people to achieve end goals. As an entrepreneur, it is also essential to think big to become big. Having a good scalability and output level represents that the founders are free to unleash their dreams and generate higher profitability. Once you get your mind in the game, scalability becomes way easier.
What have you done to create a scalable business?