According to the MISE, an innovative start-up must be less than five
years old and obviously be focused on high-tech products and services.
The start-up period would therefore seem to be quite long, but the
reality is that a successful start-up is the one that manages to leave this
label behind as soon as possible.
To all intents and purposes, a start-up ceases to be a start-up not
necessarily when it gets break-even or when it is able to issue dividends, but
rather when its business model is effective and when it demonstrates that it
has reached Financial Services.
Constant growth is the basis for achieving the aforementioned maturity
and therefore, beyond the innovation produced, the visibility of the brand or
the sales made, it is necessary to plan every single move to ensure medium /
long-term sustainability.
Planning for growth means avoiding being an eternal start-up but also
growing too fast and exposing yourself to risks of over sizing.
The 5 tips to plan the growth
of your start up
These five simple tips are intended to make entrepreneurs reflect and
invite them to create a linear growth path:
1. Analyze the productivity of
your resources
There is not only the gross operating margin. An important KPI is the
productivity of your resources, understood as the revenue divided by the cost.
Knowing that revenue per employee is growing steadily is what can give you
greater security when you are planning an appointment.
Revenue per square meter is an indicator that can suggest you expand your stock. Productivity growth
is an indicator of the state of health and is not just about commercial
capacity.
2. Automate processes and
develop your metrics
The consolidation of a company necessarily passes through the
organization of processes. Automating them allows you to develop more useful
metrics for decision making and to identify and eliminate inefficiencies and
bottlenecks.
“The Choice Of
Technological Solutions Is Of Fundamental Importance As Is The Ability To Make
The Most Of Them.”
Implementing a CRM able to follow the sales cycle and adopt an organic
system to enhance your data is functional to the generation of economies of
scale. In other words, it is an excellent ingredient for planning your growth!
3. Attract talents in the key
roles of your start up
Every manager you enter in the company must know how to plan the
growth of his department of competence.
Attracting talents may seem like a foregone advice but many companies,
especially during the usa
business setup phase, encounter problems precisely because of
evaluation errors made during recruitment.
Choose talented employees with a proven track record and make sure
they develop the necessary sense of belonging to your company. Monitor their
performance and seek involvement by delegating without problems.
When you need to hire a manager in a key role, look for the best
according to your budget and bring in people who can compensate for your
weaknesses.
To know more:
4. Monitor the return on
marketing investments
Any company revolves around the ability to get an ROI from their
marketing activities, if it is not, there is definitely a problem. Marketing
aims to facilitate the marketing of your products.
Whatever the marketing strategy undertaken, a growing ROI is another
positive indicator that can allow you to invest more in the product and sales
channel. Planning for growth passes inexorably through meticulous planning of
marketing operations, you cannot afford to accept that there are no
satisfactory investment returns.
5. Listen to the market and
retain your customers
Planning for growth also means following market developments
carefully, transforming rapidly to seize opportunities and anticipate
competition and, above all, acquire customers without losing strategic ones.
Listening to the market means adapting to the inevitable dynamics,
seeking continuous feedback to implement your strategy. It means having a
long-term vision and predicting the scenarios in which it will find itself.
It is impossible to plan growth without visualizing it and without
having a clear vision of the future.
From this point of view it is important to assess the risk of your
customer portfolio. Having the right balance between new business and renewals
and working on a "pipeline" in an analytical way is of fundamental
importance. A company that grows but whose business depends 80% on three
customers can in fact see its growth compromised if it loses a single customer.
In Other Words,
Planning For Growth Always Means Having A Plan B!
Are you an aspiring start upper? Then find out how and why it is necessary to
evaluate the size of the reference market.
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