Startup scaling is something most businesses struggle with all the time. Here are some ways to go around scaling your business:
Pick the right time rather than the first opportunity:
Think very carefully about the right time to expand internationally. Your staff, financials, and product all need to be in order, and you should ensure you have done your market research thoroughly.
Do not underestimate the budget allocations required to expand in your new region and sustain growth in your home market. Your expansion should not come at the expense of the work you have already established.
Valuing partnerships:
Relationships between business starters can be soured by various factors: jealousy of success, placing value only on the opportunities offered by leads or contacts, and lack of shared experiences once businesses have varying levels of success.
Partnerships can be extremely valuable in helping business starters to overcome many hurdles they face, not only in terms of shared knowledge but as a therapeutic support network for a job that comes with a unique set of stresses and challenges.
Partnerships are also the most cost-effective way to scale and generate business in my experience.
Being an agile business:
While businesses have continuity plans that allow for a sense of preparedness, it is also vital to think flexibly and be open to pivoting quickly when a crisis strikes.
Agility is the key to survival and scaling.
Understanding that each market is different:
A product that works in one region will not necessarily work in another. Sometimes costly adjustments are needed. Other times you may need to design a completely new product to meet a similar market need.
Many of these challenges can be reduced by doing effective research. Make sure you are getting information from accurate sources and have conducted proper testing.
Investing in ground-based teams:
Ground-based teams will prove valuable in ensuring that you provide your clients in each market with a seamless service.
Trying to expand in countries without fully understanding the local nuances is a challenge and an expensive one at that.
Do not let irrelevant things hold you back:
Prioritize your focus on your product and generating sales. Learn to prioritize. Producing a solid product and making sales is far more salient than realizing your dream office space
Expansion to new markets can be daunting, but by ensuring you have the right product, budget, and have done thorough research, you can set yourself up to prosper across multiple locations.
To know more about this, you can read this article:
