3 Essential Scaling Strategies Start-ups Should Focus on

Up to 70 percent of start-up businesses fail within the first five years. Most small businesses don’t fail because of a poor concept, a lack of contingency planning, or insufficient capital. They fail because they’re not ready to manage success. The most common reason is a business plan that doesn’t account for scaling up.

Scalability is about planning for success rather than only building contingencies against failure. Look at the resources and systems you’ll have in place to get started. Ask yourself how they will scale up once demand for your product or service increases beyond first projections. How will you manage supply if orders exceed your forecast production rate? How will you make your business more streamlined and efficient, save money, preserve quality, and expand?

There are three essential strategies start-ups and small businesses should focus on to make sure a profitable business can grow: cash flow efficiency, quality control, and project management. Your business plan should include forecasts of how you will manage these elements if your business is successful.

Cash Flow Efficiency

The baseline need is cash flow efficiency. Constant monitoring of your business practices is essential to understand where you can make savings. While any start-up will need investors and credit to bankroll the project, the first aim should always be to clear the debt and make a return on investment. Ironing out any problems in your cash flow efficiency while you’re still a small operation will save you future headaches.

Your cash flow forecast should be under constant monitoring and revision. Forecasting capital and cash requirements at least six months in advance will help you to make better decisions about where to get the money. To be ready to scale up, you should always try to reinvest from internal resources before taking on more debt. Manage your cash flow well, and your systems will be healthy and effective to manage the future growth of your business. You may want to look into using software like Float or Pulse to help you achieve your cash flow goals.

As a side note, we use http://couponcodehoster.org/godaddy-promo-codes to save money on our web hosting with GoDaddy, which is part of improving our cash flow.

Quality Control

If you’re offering a high-quality product or service, your business will probably do well. Unfortunately, quality is often the first thing to go if demand outstrips supply. Planning for unforeseen difficulties, business losses, and failure is wise, but it’s equally important to plan for success, which is only possible if you can sustain the quality of your product or service. Careful monitoring and continuous forward planning is the key. 

It’s natural to want to accept every client when you’re just starting out. However, to scale effectively, you must be in control of the speed at which your business grows, even if that means admitting to potential clients that you’ve reached capacity for the time being. It’s better in the long term to scale up slowly, and keep quality high, than push your business beyond its limits and disappoint your customers.

Project Management

Careful project management strategies should be in place before you even open your doors to business. On Day One, you should begin monitoring every aspect of your operation, from sourcing materials to cash flow balance, as well as debt reduction, client acquisition, production or provision of goods and services, human resources and investor relations.Effective analysis and skilled project management will enable you to keep on top of every aspect of your business. Check out PC Mag’s roundup of the best project management software for 2017.

Being prepared to scale up takes a lot of extra work. But the time and effort you put in at the beginning will save you a lot of anxiety in the end. With these three essential scaling strategies of a successful business in place at the outset, you’re already primed for scaling up. Don’t let unexpected success be your downfall.

Shopify Apps and Coupon Codes

Exceptional Ecommerce Apps Every Shopify Store Owner Should Have on Their Android Mobile Device

 
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If you want to maximize your time as an ecommerce entrepreneur, it is imperative you incorporate mobile apps into your task management duties. You can’t always be at your laptop computer managing your store; you need to be able to build your business regardless of your location. Luckily for Shopify vendors, there are now a multitude of excellent Android apps for online business owners. Check out this roundup of exceptional Android apps for Shopify; you just might find one or two you can use to supercharge sales at your store.

Our Free Tip for Entrepreneurs:

Nothing helps out a bootstrapping business like coupon codes. They are your lifeblood: especially when using software services like Shopify and cloud hosting applications like GoDaddy and AWS. We wanted to link out to some great resources that’ll help you in your bootstrapping efforts:

http://vpscoupons.org/renewal-coupon-godaddy (for GoDaddy)
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https://www.goodsearch.com/coupons/shopify (for Shopify)
 

Ecommerce Preview

 

The Ecommerce Preview app lets you instantly create a custom native app for your Shopify store. Spotlight your latest arrivals, offer secure mobile shopping, and let customers create collections of their favorite finds. Your new mobile app syncs with your ecommerce store in real-time and lets you add your own business branding for a completely custom look. Shopify + mobile shopping: can you say profits?

play.google.com/store/apps/details?id=ecommerce.plobalapps.preview
 

SimplyTick for Shopify

 

If you want to manage your Shopify store on your mobile device, look no further than the SimplyTick for Shopify app. This powerful Android app lets you do everything from track customer order sizes to monitor time-on-site rates. Understand which browsers and digital devices your customers are using, tracking sales rates for your store, and understand your most profitable sellers. The ease of Shopify selling plus the magic of mobile management is a combination too awesome to ignore.

play.google.com/store/apps/details?id=com.simplytick.simplytick
 

Entrepreneur’s Digest

 

Available from Shopify, the Entrepreneur’s Digest app is a must-download item for sellers committed to building a profitable online business. This terrific mobile app offers advice on ecommerce, business development, marketing, and entrepreneurship. Discover how to better manage your social media marketing and increase the effectiveness of your email marketing. If you’ve opened a Shopify store and haven’t downloaded this Android app, you’re doing your business a disservice.

play.google.com/store/apps/details?id=com.shopify.blog

 

Increasing the profitability of your Shopify store is made easy when you have the right tools at your disposal. Discovering Android apps for Shopify not only helps you become a better online entrepreneur, they also help you manage your time when you’re away from your laptop. Do you think you’ll be integrating any of these excellent apps into your ecommerce business management strategy?