If you watch Shark Tank you'll know that the most common concerns expressed by the Sharks are customer acquisition costs, revenue growth and of course scaleability.
We all understand the first two, but what does it really mean to have a scaleable business? A scaleable business is one that has the potential to grow its revenue base significantly faster than its cost base. It's the secret ingredient in the recipe for a successful profitable business.
For many businesses, scalability gives you the capability to respond more quickly to changes in the market and your business. But what does this really mean for your business? What scalability means and how to ensure you are ready to scaleHow and why every owner should be building a scalable businessWhy embracing change is an important factor when creating a scalable business.
Every business owner should be considering areas for scalability, seeking out the potential to grow their revenue base significantly faster than its cost base.
What are you going to do to ensure you are laying the foundation to better your growth potential?
Stefan Kazakis on 5 May 2018
Responding to change is a critical part of the culture and operations of the business. You, your team and your business must be agile and flexible. ...Read more