How to Scale Your Business Without Breaking the Bank

Posted on Thu, Jul 7, 2016 @ 09:00 AM by Carlos Lahrssen

Scale_Your_Business.jpgScaling your business shouldn’t be at the expense of your bottom line. It just doesn’t make sense–you’re expanding to accommodate more jobs, more volume, and more business–so why is scaling always associated with cost?

As we all know, it’s because of the need for office space, purchasing more hardware or software, hiring expenditures… the list goes on and on. So how can you balance this out and not see overdrafts in your business account?

The answer can be found through new business innovations and solutions, of course!

Scale Your Business in a Way that Makes Sense

Veteran business growth coach Verne Harnish’s award-winning manual “Scaling Up: How a Few Companies Make It..and Why the Rest Don’t,” touches on 4 decision areas that every business must master to scale. They are: People, strategy, execution and cash.

Also from this manual is the need to focus on what your business goals are so you can then concentrate on the how. Not having a clear actionable goal can be detrimental to your success.

ALSO ON nexogy: Growing Your Company Into 2017

Once you have this goal in mind, it’s time to look at cost-effective solutions in order to jumpstart these initiatives!

Cost-Effective Technology

No matter if you’re service-based or product-based (or a blend of both), having software and/or hardware is very costly to maintain. There are constant upgrades and help needed from IT. Newsflash: It doesn’t have to be this way!

Here are some options to consider for your business in order to cut costs and scale affordably:

  • Migrating to the cloud: Implementing the cloud for your business is easy, and can be done quickly! You can also have storage options, too, depending on your infrastructure, and you can kiss the need for software goodbye. The best part: you can grow at your pace, and for little to no extra cost.

  • A VoIP phone system: Having your phone routed through the Internet keeps costs low because upgrades are instantly done without the hassle of updates and time-consuming upgrades. You’re also in control of what you get, and scaling by adding lines is super simple and painless!
    [Check out our Phone Features guide to see everything you’d get for switching over to a VoIP system]

  • Automated systems: Automation is the key to more productive work days. You can control the workload as you grow and get more employees/add more responsibilities on job positions this way. A great example of this is having a CRM.

  • Bring your own device, or BYOD: Give employees the option to work from home, and you’ll get increased productivity. Utilizing this in conjunction with cloud computing delivers powerful–and secure–results.

The Proof is in the Pudding… 

According to VTechnology, “82% of companies have saved money just by implementing the cloud network in their infrastructure.” Also, “more than 80% of the companies using cloud services have shown an increase in productivity within the first 6 months.”

Scaling and cost go hand-in-hand; you cannot do one without the other. However, you can do it in a smart way–while also keeping some change in your pocket. How has your business scaled effectively over time? We’d love to hear your input in the comments!

The Future of Scaling Business

Topics: Small Business

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About the Author

Carlos Lahrssen
Carlos Lahrssen
Carlos Lahrssen is president and CEO of nexogy, as well as founder, president and CEO of LD Telecommunications, Inc., nexogy’s parent company. Lahrssen is an industry fan, follower and advocate — more