Ram Tumuluri “How To Successfully Scale A Business”
Ram Tumuluri “The difference between a small business or startup and a successful and profitable company typically boils down to time and experience. But, there are certain factors that play a big part in how those companies grew to be successful — things like timing, having the right people, focus, and intensely hard work. Here are some tips on how to successfully scale a business.”
CEO and Founder of the Ideal Life Project, Ram Tumuluri, gives us some top tips on how to scale any business
Keep Processes Simple to Scale a Business Successfully
The ability to simplify things is a skill that many successful corporate leaders have. They take something complicated and simplify it. Everything from product releases to workflow development is based on this idea and approach to business. For example, part of Apple’s success during Steve Jobs’ tenure was his ability to simplify overly complicated things. He was well-known for canceling projects that he deemed extraneous.
The creeping effect of complexity is a major dynamic that slows business growth and, at its worst, harms a business as it grows and scales. CEOs that are successful in reducing complexity have a clear and well-communicated vision of the company’s goals. They also have the capacity to lead employees toward that vision and the willingness to change course when certain strategies fail to deliver desired outcomes.
Customer Focus Is Key to Scale a Business Successfully
While customer acquisition is crucial in any organization, you must also concentrate on your current consumers. Customer perceptions have the power to make or break a company. Customers will sing your praises if you provide high-quality experiences, products, and service and if you go out of your way to delight them. According to a Nielsen study on advertising, media, and peer recommendations, 92 percent of consumers worldwide trust earned media over all other forms of advertising, such as personal recommendations and consumer opinions from friends and family.
Making your customers happy doesn’t have to be a time-consuming process, and you also don’t have to fully redesign your business strategy in order to do that. All you have to do is operate in a way that anticipates their interests and follow up with them after they make their initial purchase. Even small actions like encouraging employees to be proactive with clients can make a huge difference.
Invest in the Right People to Successfully Scale a Business
Companies spend a lot of money on their workforce for a reason: it helps them expand by maintaining and attracting top talent, who are more loyal, have a better work/life balance, and work more as a result. Employees that feel valued are more likely to support your vision and go above and beyond to help your company succeed.
Investment encompasses more than just perks and benefits. Meet with important personnel from across your organization. Consult with employees to determine what resources they believe are required to do their jobs better and more efficiently and scale operations as your business evolves.
Scaling require that you make tough choices, such as what functions should you perform or not perform internally? When it comes to investing in the right people, third parties may have the personnel and resources to handle a function far more efficiently than your organization. Also, internally replicating such a function could cost too much effort and money. So instead, select a reliable partner you can outsource from, allowing your company to scale better, faster, and for less money.