Prime Advantage Blog

4 Steps to Scaling Your Business

Dan Grant on Aug 16, 2016 1:12:05 PM

081616.jpegWhen it comes to business, we like to think that bigger is better. Goals of a bigger customer base, bigger revenues, and bigger profits, drive most of the strategic decisions any company makes. As long as an organization doesn’t bite off more than it can chew and can handle the increased load without sacrificing quality or service, then let it snow, let it snow, let it snow. So if capacity is not an issue, how do we go about expanding our company’s breadth while pumping up that bottom line?

Inc.com offers four tips to scaling your business and believes the key is to replicate within the current parameters of your operations without adding a bunch of manpower and overhead that will render your efforts repetitive and inefficient. If your number of customers surges but the costs incurred in the initiative outweigh the additional revenue, then the whole exercise was for naught. You want to maximize your output while minimizing additional spending. This is accomplished through being proactive in anticipating demand, keeping your product strong and consistent, having a company strategy and culture all of your employees can master, and being realistic in your perspective of your business and industry.

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Topics: Talent and Leadership

Dan Grant

Posted by Dan Grant

Daniel Grant is the President of Prime Advantage, a Chicago-based Group Purchasing Organization for mid-market manufacturers.

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