Scaling up

One of the biggest challenges for a startup, after surviving for a year or so is to scale up. The challenges associated with running a small business on your own are quite different from the challenges of scaling up. When we talk of scaling up in a services company, the following are to be considered

1) Increasing the number of clients - business development
2) Expanding the scope of services to existing clients and getting repeat business
3) Getting in place a strong management team
4) Recruiting the right people and training them
5) Delivering consistently while maintaining standards of quality and turnaround times
6) Upgrading infrastructure
7) Improving visibility and brand recognition
8) Developing a strategy for competitive advantage
9) Increasing reach and expanding to various geographical locations
10) Generating sufficient revenues and/or funds to fuel growth

These encompass sales & marketing, PR, HR, Finance, strategy and execution, hence 3) Getting in place a strong management team is very critical.