Posts Tagged ‘How To Compete’

The Importance of Scaling – Part 3 of 3: External Partners and Communication

(This is part three of a three part series of articles examining the importance of scaling all aspects of your growing business. Part one and two can be found here: The Importance of Scaling – Part 1 of 3The Importance of Scaling – Part 2 of 3: People and Culture)

External Partners

Beyond just the people within your four walls, organizations that scale effectively know how and when to leverage partners. Even if your company has gotten to this point without much outside assistance, that doesn’t mean you need to or should complete your journey alone.

There is tremendous value in tapping the experience and advice from others who have been there before you. Even the biggest companies started out small and had to scale up at some point. Reaching out and learning from those who have already ‘been there, done that’, can save you countless time, money, and effort by entirely avoiding an issue altogether. In her article “5 Things You Must Do to Scale Your Company”, Marla Tabaka illustrates the value of establishing key advisory networks. “When you get into groups and are around mentors and advisors you can address the issues you are facing with people who have experienced a similar set of problems; you sill see things in a different light.” It often takes someone removed from your situation to give a fresh perspective that you were unable to have given your embedded position. Even though you might compete with someone in the future, you will see companies generally want to share success with others, and a different perspective is invaluable.

Read More

The Importance of Scaling – Part 2 of 3: People and Culture

(This is part two of a three part series of articles examining the importance of scaling all aspects of your growing business. Part one and three can be found here: The Importance of Scaling – Part 1 of 3The Importance of Scaling – Part 3 of 3: External Partners and Communication)

People

The people that make up your company are at the heart of every initiative, often ultimately responsible for determining its success or failure. When a company grows and looks to scale its operations, having the right talent focused on building for the long term is critical. A shared sense of purpose amongst employees to grow the company is certainly one aspect to the equation, but the other aspect is having the right people capable of executing that growth. Adding professionals with the necessary experience, background, and relationships/networks can immediately provide a boost to the company’s strategic positioning that may have not been possible without those resources.

Read More

The Importance of Scaling – Part 1 of 3

(This is part one of a three part series of articles examining the importance of scaling all aspects of your growing business. Part two and three can be found here: The Importance of Scaling – Part 2 of 3: People and Culture, The Importance of Scaling – Part 3 of 3: External Partners and Communication)

While many organizations experience success and growth quickly, few are able to sustain it over time. Immediate success brings new and different challenges: shift in the competitive landscape; increased back-office responsibilities; aggressive business development capture requirements; increased focus on profitability. Small businesses previously accustomed to filling smaller-scale, specialty roles as a supporting teammate, now find themselves leading large-scale pursuits and opportunities that require significant organizational change. You must redefine your value in your company’s new role, shifting attention to areas you may have previously relied on large teammates to provide and ramping up internal operations to support these larger efforts.

Ultimately, the ability to compete, hinges on your ability to scale the core aspects of your business to meet these new demands. In this three part series on Scaling, we consider a number of contributing factors to success at scale, starting first with Planning and Focus.

Read More