Is it time to scale up your small business? 

On Behalf of | Jul 18, 2022 | Business Law |

You started your business a few years ago as a side project. Gradually, you’ve been able to make a full-time living from the proceeds. Orders are constantly flying in and you’ve even recruited a small number of team members. 

The success of your business has been fantastic, but it’s almost becoming overwhelming. Scaling up your operation means taking your business to the next level. Outlined below are some signs that it could be time to take this approach. 

Exceeding projected revenue 

Over the years, you’ve set realistic targets for your company and you’ve always hit them. In fact, recently, you’ve been hitting these targets out of the park. If your business has a proven track record of constantly hitting its targets, perhaps it’s time to set the bar a little higher?

You’re turning customers down 

The emails and phone calls are consistently flowing in for new orders. You’re also retaining a lot of repeat business. Lately, you’ve been so busy that you’ve even had to turn new customers down. By scaling up, you might be able to land these customers rather than them going to one of your rivals. Although it might be a good problem to have, the last thing any business owner wants to do is turn customers away. 

Restructuring your company 

If you’re thinking about scaling up, you’re probably going to have to restructure your organization. This will allow you to get the most out of your staff and hit your new objectives.

As you scale up your business it’s important to keep your legal rights and obligations in mind. Having experienced guidance behind you will ensure that you’re taking the appropriate steps.