Business Growth Planning: Scaling Through Technology

A very important part of your business growth planning includes learning to scale your business effectively. Planning ahead with the proper technology keeps your business from punishing your current customer base with growing pains.

Billing

Growing companies need cash flow more than anything else. Most businesses go under in the growing phase because there is too long of a wait between the time they earn money and the time they receive the money for the service.

As customers get bigger and scale with the business, net 30 or net 60 terms may slow down cash flow. Businesses effectively counter this by automating billing and collection services ahead of time.

CRM

Effective customer relations management ensures that a business maintains its personal touch even as it scales. Good CRM also limits the need for employee preservation, as automated demographic information ensures any employee talking to a customer knows everything about that particular case.

Good CRM is also necessary in order to continue researching trends. Once the customer base becomes too large to track by hand, CRM becomes the research tool that keeps a business on the pulse of its audience.

Security

As a business grows, it must maintain its security, especially if it begins to take in more of the personal and financial information of its customers. Security remains the number one concern of any business that is looking to scale. Consider switching from a virtual private server to a fully dedicated server. Make sure that you encrypt all communications before sending. Stay away from large, public email servers.

Remember, running a business successfully does not need to be complicated.  Keep it simple!

For more information on business analysis, business planning, and ways to grow your small business profitably, please check out our website www.portalcfo.com.

Sign up for our weekly blog email update and follow us on Twitter @portalcfo

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.