Growth is the ultimate goal of a business. Regardless of a company’s size, industry, and location, all businesses want to expand their reach and scale their operations. However, it’s not always easy to achieve growth, considering market saturation and global competition. Therefore, most businesses (primarily startups and small companies) fail.
So, do we wait for the economic crunch and high competition to eat our market share? No. As business owners, we must take charge and find ways to scale our businesses, regardless of the situation. And with the advent of technology automated bookkeeping software, there’s no reason why we can’t.
Technology has always been a great leveler. It has the power to connect people across the globe and help businesses tap into markets they could never have reached before. With the right technology, even the smallest companies can scale their operations and compete with the big boys.
So, what are some ways you can use technology to scale your business? Let’s take a look.
- Automate Tasks:
Do you realize how much time you spend on tasks you can easily automate? Answering customer queries, sending out invoices, scheduling appointments, and managing social media accounts are all time-consuming tasks that computers can easily handle. If you’re a small company, you might have strict budgets and can’t afford to hire many people. In such cases, automation is the way to go. Numerous software solutions can automate most business tasks, freeing your time to focus on more important things. And if you feel your staff isn’t trained to effectively use the software, outsource the job to a specialist. A great example would be JD Edwards EnterpriseOne implementations that can help businesses automate various tasks, from finance and accounting to CRM and Human Resources.
- Use Cloud-Based Solutions:
Cloud computing is one of the most talked-about technologies in recent years, and for a good reason. It allows businesses to access robust software programs and store data remotely without investing in costly hardware and software. Moreover, it’s scalable, so you can quickly increase or decrease your usage. For example, suppose you have employees spread out across different locations. In that case, cloud-based solutions make it easy for them to collaborate and stay connected. Now is the time to start if you’re not already using cloud-based solutions. Salesforce, Google Apps, and Office 365 are some of the most popular cloud-based solutions that can help you scale your business.
- Protect your Business from Cyberattacks:
No business is safe from cyberattacks. You’re a small business or a big corporation and vulnerable to hackers. Giants like Alibaba, Yahoo, and Sony have fallen victim to cyberattacks, so taking the necessary steps to protect your business is essential. The first step is to educate yourself and your employees about cybersecurity. Make sure they know how to spot a phishing email, for example. You should also invest in a sound cybersecurity system and have a plan in case of an attack. In terms of technological intervention to deter cybercrime, firms can use intrusion detection systems and firewalls.
- Go Global:
The internet has made reaching a global audience easier for businesses. However, suppose you’re not tapping into this vast market. In that case, you’re missing out on a huge opportunity to stay ahead of your competitors.
There are several ways you can go global with your business. You can start by setting up a website and ensuring it’s optimized for international search engines. If you already have a website, ensure it can be easily translated into different languages. You can also use social media to reach a wider audience. Create accounts on popular platforms and start promoting your business. Ensure you post regular updates and interact with your followers. You can also use paid advertising to reach more people.
And lastly, don’t forget to localize your content. It means translating it into the local language and customizing it for the local culture. For instance, if you’re targeting the Chinese market, your content should include things like the Chinese New Year and the Lunar calendar.
- Customer Relationship Management:
In any business, the customer is king. Without satisfied customers, you won’t have a successful business. That’s why investing in a good CRM system is essential. A CRM system helps you keep track of your customers, their purchase history, and contact information. As a result, you can manage your sales, measure your marketing projects, and track performance. Paired with big data, a CRM system can give valuable insights into your customers’ behavior so that you can improve your marketing and sales strategies.
Many CRM systems are available on the market, so choose one that’s right for your business. Salesforce, HubSpot, and Zoho are some of the most popular CRM systems that most mid-sized to larger companies use.
- Outsource Non-Core Activities:
Outsourcing is often seen as a dirty word, but it’s a very effective way to scale your business. When you outsource, you hand over the responsibility of non-core activities to another company. As a result, it frees your time and resources to focus on more important things, like growing your business. For example, suppose you’re a small e-commerce company. In that case, you might want to outsource your warehousing and shipping to a third-party logistics provider. Most people believe outsourcing is only for big companies, but that’s not true. Even small businesses can outsource certain activities to specialized agencies. Do your homework before choosing a reputable outsourcing partner. Otherwise, you might end up with significant losses.
- Manage Your Projects Seamlessly:
Since most modern companies follow the hybrid model, it’s crucial to have a project management system that can accommodate everyone. The benefit of project management software is that it helps you keep track of your projects and tasks. You can also assign the tasks to different team members and set deadlines. Project management software also allows you and your team to communicate seamlessly, no matter where you are. With leading options like Jira and Asana, you can also have your customer or client involved in the project, which can help build trust and transparency.
Technology is constantly evolving, so it’s important to keep up with the latest trends. Today what’s considered cutting-edge might be outdated tomorrow. But if you’re proactive and stay ahead of the curve, you can use technology to scale your business effectively. But, if we are being honest, you can’t do any of these things without the help of a good IT team. So, if you don’t have one, now is the time to invest in one. They will be your best asset as you scale your business.