Every consolidated company at some point was a startup. However, for an initially risky project to take hold, it is necessary to take some steps that will allow it to become a safe business as the years go by. Ivan de Souza Jan 12, 20 | 5 min read what is a scale up At this point, the entrepreneur becomes an entrepreneur and, in turn, scale-up ventures. This is a terminology from the business world that refers to the next step after the startup . That is, it describes the companies that have consolidated growth. But, for this, an adaptation of the business model is needed towards new opportunities for expansion at other levels. Do you want to know what a pull-up is and the difference it has with a startup? Read this content to the end! What is a Scale Up? Scale is related to scalability .
is the stage that directs the company towards potential growth. Generally speaking, a company is considered to be scale up if it has grown 20% at an annual rate . This growth must be presented in employees and billing, according to the Organization for Economic Cooperation and Development (OECD), cited by the newspaper El Economista . It’s about taking a business to the next level. In fact, they are companies that started as startups and then expanded. For example, when reaching new markets, clients, Taiwan WhatsApp Number List improving your product or developing innovative ventures . Scale up and Startup: are they the same? As we have mentioned before, scale ups and startups do not refer to the same thing. A startup is just entering the market . However, once the company passes this initiation phase, it enters the scale up category, on which its success in the medium and long term will depend. The main objective is to maintain a solid business model over time and additionally demonstrate potential growth. What are the challenges of a Scale Up? The ecosystem of a scale up is usually very different from that of a startup (be it Colombian , Mexican or from any other country).
This stage requires a transformation, which is possible through objectives that aim for growth. And although it is usually easy to say, this growth implies:risks; higher investment; restructuring; innovation ; market dominance; and even, adoption of new technologies. 6 actions to transform a startup into a scale upTo obtain results in this transformation, it is necessary to meet certain objectives. But first, it is essential to know if the company is ready for it . It is not advisable to force the level of productivity if your business is not prepared for change. Here are some indicators that will allow you to know if your company is ready to evolve to a scale up :you have a fully trained work team to face greater challenges and new responsibilities. You have the necessary capital to make the investment that this growth requires. You are assured the loyalty of your customers. Your advertising and promotion plan are ready for an evolution. You have set yourself really achievable goals. You have the ability to delegate responsibilities and your company continues with an absent leader. If you meet most of these indicators, it may be time to plan your actions towards a scale up. And, these actions are: 1. Develop your external alliances For a company to grow it not only requires its internal team. External contributors are also tremendously important. This is because they can expand the area of influence of the organization, and thus become effective ambassadors , no matter if they are partners or suppliers. 2. Incorporate new skills into your structure It is well known that any organization achieves its objectives and grows thanks to the aptitudes and skills of its members.
If you have ambitious goals, your team may need reinforcement, have new skills that provide a different vision and know how to face challenges never seen before within the company. 3. Evaluate leadership As much as a good team has all that is required to succeed, if it does not have a prepared leader, the efforts may not generate any results. For this reason, the person in charge should be trained, determine what they can learn from the experts in a certain area, and also talk with individuals who have had similar experiences. All this in order to broaden the vision. That way the leader will be able to assess a situation from different angles. 4. Consider modifying your marketing plan If you are going to grow, then you have to have marketing strategies that are consistent with your objectives. Do you want to start cultivating your reputation as a benchmark in the market? Then consider starting to work with the Inbound Marketing methodology. With this method you will see interesting results in the long term. Create content with which your audience gets valuable information. Little by little, you will establish yourself as an authority in your area of expertise, thereby gaining the trust of your potential clients. inbound marketing guide 5. Determine the areas in which you need to improve You want to grow, don’t you? So, it is imperative that you prepare yourself to meet new needs. Do you already know what you must optimize in your structure to meet those objectives? Did you evaluate which areas need new working methods? You will surely have to make multiple changes within your schema.
However, even if the first instinct before a transformation is resistance, consider that these modifications are required if you want to boost your organization. 6. Perfect your work methods Undoubtedly, at this time your company already has defined processes with which to execute each of its projects. Now, have you wondering if they can be improved? You should carry out an audit of the current management. All in order to determine exactly what has worked so far, and modify what is needed. That way you will be aware of your strengths, and perhaps your best ones even more. On the other hand, you will work in those areas where you must reinforce yourself. In the medium and long term, you will see positive results. conclusion All companies must assess their growth potential. Scale up companies are the ones that bring the greatest benefits to the local economy . This is because thanks to their development they generate new sources of work, which is a significant contribution to the economic growth of any nation. Do you want to learn more about startup development? We invite you to read our Digital Marketing Guide for this market and how to boost your brand on the Internet in 2020 .