When businesses are growing rapidly, the focus is generally on revenue and getting more of it, and not necessarily on how you deliver that product or service. This can create large inefficiencies in the daily processes that your team is working on. In particular, growing a business can be like reinventing the wheel as there is no time to go outside and work out how others solve this problem.
By avoiding process optimization, you’re likely leaving a significant margin or revenue on the table. Poor process design means that your teams are handicapping themselves. You’ll likely have teams that have grown more quickly than they had to, or worse, you’ll have missed revenue opportunities as the team has been down in the (wrong) weeds following poor processes. Even when you set out to improve processes, you need to make sure you’re choosing the right ones and then sticking to the changes implemented.
We’ve also found that behind most unhappy customers is a poor business process. To improve your customer experience – and therefore secure and retain more customers – make sure you have aligned internal business processes to external customer outcomes.
All of that information leads to one conclusion: it’s essential to take the time for regular reviews of all frequent business processes. This isn’t always easy when you’re in a high growth period – but the management team should set aside time after reviewing each internal financial report to identify areas for improvement. Circling back to point #2, outsourcing partners will often proactively offer suggestions on how the processes they operate for you can be improved, and what implications this will have for your ability to scale faster.
Ready for the fifth and final tip in our series on scaling the smart way? Read more on each strategy in our white paper here: Scaling Made Simple: 5 Tactics to Help Growing Companies.