The sudden growth of your business should serve as a warning sign for you to pay more attention to scalability. While it is extremely exciting to see the boost of income, it should not be the aim as it will end soon leaving your company in ruins without an appropriate scalable strategy of development that ensures your business can manage a substantial increase of demand without a critical drop in quality of service. Manageable exponential growth over time is much better than the rapid burst of demand that could not be handled.
Do Not Panic, Everything is Manageable
The major idea is to combine a high-demand service or product with solid support and production possibilities, as these elements are interrelated and essential from a long-term perspective. Effective scaling strategy takes into consideration all these essential elements and many more. However, many tips are business-specific, so you should consider fulfilling universal requirements in the first place.
- Provide a worldwide-needed solution
The first step in scaling your online business worldwide is actually offering something that is needed across the world. If your product or service solves the problem or closes the demand of different people from various countries, it has more chances to make your goal achievable. Even the most effective marketing campaigns and substantial funding will not help you to scale your online business on the global market if the offered product is a niche one or just does not presuppose high demand.
- Plan and then plan again
Thinking about future growth beforehand is essential as you will need to set realistic goals, think about resources, your team, an online platform for e-commerce, what social media accounts should be used for advertising, and how the budget should be distributed. Plan how and who will advertise your product. Engage influencers and get an understanding of the demand in advance. The planning process also includes a complete understanding of your customers’ collective personality, motivations, and desires, how they will find your product, and so on. Substantial market research is an obligatory element.
- Secure the budget and ensure its wise use
Whether you decide to find the investor, take a loan, win a governmental grant, or raise funds on Kickstarter, you need to know precisely what this money is needed for. Successful international business is impossible without funding, thus, securing this aspect is among the primary things to do.
- Constantly monitor company’s analytics
Sales growth, trends, conversion, lifetime value, cost per acquisition, and other performance metrics are extremely essential as these numbers allow you to develop predictions, attract investors, plan ahead, react to challenges, and feel more confident about the future of your online business. Scalable strategy presupposes your readiness to address issues as soon as they arise and reviewing vital metrics in advance is the sign of healthy online business management.
- Pay attention to algorithms’ work
Dedicating efforts to actually reaching your customer online by ranking well on Google search outcomes will be beneficial. Relevant content, appropriate SEO, and specialists hired with the help of reputable online professional translation services will help customers from all your target groups find your brand. Moreover, technical solutions such as appropriate content management systems (CMS), availability of appropriate and diverse payment solutions may directly or indirectly make an impact and improve your website’s position in the search.
- Outsource and let your teammates do their work
A growing team is an inseparable component of the company’s development. It is crucial to avoid continuously adding more responsibilities to your team, you should consider enhancing human resources or outsourcing tasks that are beyond your field of expertise instead. Stay focused on things that are your direct responsibilities and that you can complete with high quality and outsource tasks like customer support in case your business is experiencing rapid growth. A scalable strategy presupposes business being supported by the team that understands goals, works together, and is interested in the company’s growth. Effective teamwork ensures your online business being scalable, thus, it is essential to not overburden your employees with the work that can be outsourced when needed.
- Automate processes that can be automated
Entering the worldwide online market will require more time and resources to cope with the customers’ requests. Many operational and marketing processes can and must be automated so that both you and your team dedicate your time to more important goals than completing repetitive tasks that algorithms can cope with. Automation allows more efficient use of resources and contributes to a positive customer experience as clients will not need to wait for a long time for replies or their orders’ processing. Automation of as many processes as possible is also beneficial for the company’s budget as it decreases the need of hiring multiple different specialists.
- Use reliable delivery company
If your task is to scale online your business worldwide, you will need to provide the product to customers all over the world. Lost parcels and delivery delays will affect your company’s reputation primarily, thus, it is better to choose reputable services with extensive shipping and storing capabilities. Refraining from attempts to save little money by contracting cheaper delivery companies that could not cope with increased demand will help your business’s scalable growth in the future.
Scaling an online business is not a fast process, and you will most likely face many difficulties such as the decreased sales or uncontrollable growth that results in loss of quality. Everything will be good if you apply the necessary adjustment to your scalable development strategy on the way, whether it will be outsourcing some tasks or pausing marketing campaigns. The ultimate goal is to make your reputable online business grow and prosper and this is not a thing that can be achieved within a week.
Merissa Moore had the possibility to observe effective scalable strategy implementation as she worked on outsourced localization of the website intended for a new market. She learned many insights related to effective team management. Now Merissa is searching for foreign books related to business management and offers translation services as she wants to contribute to a sustainable and healthy business environment worldwide.