3 Things Most CEOs Forget About When Scaling Their Business
By Clair Kim
Running a business is no joke because there are so many moving pieces going around at all times. And particularly in growing and scaling a business, many start-ups solely end up focusing on marketing, funding and customer acquisition.
Although that is a great move, this also causes a situation where they end up turning away customers due to the spike in workload. With that being said, here are the 3 things that most CEO’s forget about when scaling their business.
- Creating Operational Capacity to Deliver Excellent Customer Experience
Lead generation directly contributes to every business’s bottom line. Because of that, many companies focus on bulking up the number of leads and creating products/services etc without really asking the question of, “how many customers/users can I serve from each offer? How much traffic can we realistically handle without jeopardizing the quality?”For many businesses, just getting customers to the door isn’t enough. It’s just a start. They have to create products or services, regularly monitor the quality and also focus on creating a great customer experience so that customers keep coming back. But without creating the operational capacity to deliver an excellent customer experience, it jeopardizes the chances of customers coming back.
- Taking Themselves Out of the Day to Day Management
“Many entrepreneurs start on their business based on something that they are passionate about… But it was structured in a way where every decisions and activities involved me in some way or another. I burnt out very quickly,” Em Ducharme, business growth strategist, shares, “it took me exiting from multi 6+ figure businesses a couple of times to realize that the problem was in how I didn’t take myself out of the day to day management”.Ducharme also suggested, “trust your team more. There is no point of hiring team members when your to-do list will be swamped because of how many things you need to review. Always make sure that you have the right systems to help you consistently grow your business and market your business”.
- Forgetting to Restructure The Responsibilities
Start-up CEOs wear a lot of hats to juggle responsibilities in all areas of business and have great revenue goals. However, they forget to consider the long term vision of where do they see themselves once their revenue has stabilized etc and a question of “what would happen if I’m gone for a month?”Considering this long term vision and this question will show the extent of responsibilities, moving pieces within the business. As well, this will allow CEOs to reverse engineer their management and operations strategy to ensure that their role evolves as the company grows.
Read more here:: B2CMarketingInsider