While there are many potential issues that can limit your capabilities, it is often a limitation to business growth that lacks the right processes to scale. This is because when most small businesses start growing rapidly, they don't have the time or resources to invest in processes. As your business grows, so as your business grows, so over time, all of these people and their management will become a constraint on your ability to scale further.
The answer to scaling business is to invest in new digital technologies and system integrations to remove the constraints of human capital by increasing their efficiency and capabilities..
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1. Digitalize to improve your business
One of my friends discovered that his employees spend a lot of time on potential projects, which in effect do not happen to anything. More than half of their working time was wasted! This changed when electronic signatures began to be used, which facilitated and accelerated the circulation of documents, which in turn affected the speed with which my friend could process contracts. By making it easier for people to sign contracts, its conversion rate of oral contracts to signed contracts has risen to 80%. Sometimes it is the lack of appropriate regulations that slows down the possibilities of action and development.
2. Increase efficiency
Due to the current crisis, many of us have introduced (sometimes more out of coma) a remote work system and are much more likely to use many popular video conferencing tools. This trend shows us that there is a need for people working so far in one office to be in contact with each other, even by phone. How is their performance in this situation? Of course, a lot depends on how responsible and organized an employee is, whether he is distracted by family requests, whether he has a comfortable place to work?
If the above conditions are met, the time saved even on commuting to work and back will translate into increased business and personal efficiency. This can be a big win for both the employee and the company. As a consequence, it is necessary to take into account not only benefits such as health, happiness and increased employee productivity, but also lower fixed costs for, for example, renting an office.
Another effect of current work virtualization is that you can consider hiring anyone (if your business needs it) no matter where they live. Geography does not have to be a limitation for building the best possible team. Invest in work tools that will help you improve its effectiveness and productivity. Certificates and references confirming the quality of your product are also importan.gif)
3. Improve and update processes
When you're thinking about improving people's processes and work, and how to leverage digitalization and virtualization to enhance your skills, target areas of business where there is any exchange of contacts between teams, suppliers, customers, etc.
With new processes and technologies, you can expand your lead base anywhere in the world, you can also digitize as much of your work as possible to make it easier to replicate and streamline as much as possible. That way, you might be able to charge the same rate you charged for 15 hours of work, for example – but now you'll do the same job in just 10 hours. In this way, you can effectively scale your business .
Nowadays, there are more and more tools available to help take your business to the next level. And if you have some time now, you may have the opportunity to think about how you can do digitization and virtualization to expand your business in such a way that you can scale your growth and grow rapidly in the future.
