65% of companies in the UK said they were looking to scale-up in the next 12 months with most citing that funding is was leading force hindering their growth. Businesses must ensure that they are ready for funding and have their growth plan prepared for their business to swell with an influx of investment.
Having worked with many successful scale up companies through digital transformation and change management strategies, our team at Netpremacy have devised the top three success factors for businesses preparing to grow exponentially.
For any small business, it’s imperative that the founder(s) have a vision for where they envisage the company growing to in five, ten, even fifty years. This enables them to be able to plan and structure the scale-up strategy realistically considering resources, processes, internationalisation and most importantly, testing their proof of concept at each level of scaling up.
Often when small businesses grow into medium businesses and hire teams, they undergo huge changes from operating nibley or ‘on the fly’ to having to put in place robust processes that are easily adopted by the ever-growing team. The most reliable and scalable method of implementing these processes is by using a cloud based platform such as Google Cloud Platform which allows organisations to centralise the management of their teams and protect their IP and Data in a secure cloud operated system.
As businesses grow, it’s inevitable that the skills required to run a medium sized business will change, diversify and become more complex. Businesses must ensure that they invest in specialists who have the capability to keep up with market transformations and deliver to their evolving customer base. It’s worth considering that this mix of skills may require remote or international workers, therefore the systems in place must be able to enable these skilled workers to collaborate, effectively in a flexible, cloud-based environment.
This preparation phase in a business’s growth cycle is integral to them receiving the funding to enable them to scale. We believe that learning from other small and medium businesses experiences is the best way to take on these challenges for your own business. With this in mind, Netpremacy and Google are partnering to hold an event at Google HQ in London on 10th October, to provide focused advice from Google experts on how you can unlock more from GSuite and Google Cloud Platform. We have our own clients, ‘Your Golf Travel’ and OVO Energy joining us to discuss how they have implemented an efficient, collaborative and fit for scale working environment using Google Cloud.
If you can’t make the event, but would like to discuss with our team how best to scale up your own business with the help of Google Cloud Platform, get in touch with us here: firstname.lastname@example.org.