StartUp in 2020 step nine: How to scale up
Posted: Fri 3rd Jan 2020
How to navigate the path from start-up to scale-up
Businesses experience significant growing pains when evolving from start-up to scale-up. Entrepreneurs can feel every bit as awkward as the gangly teenagers who don't know how to handle themselves.
The difficulty of scaling a business is shown in the relatively small number of companies that make it. Small businesses with 0-250 employees account for 44% of salaried staff. However, the average number of staff per business is low at just five employees.
Most companies are micro-businesses with less than 10 employees. This is partly by design. Owners don't want to grow beyond a certain point. But many of those who try to scale up fail to reach critical mass or go bust trying.
We've looked at the key subjects business owners need to consider when starting this journey including the mindset that you need, value creation, marketing and finding the right staff.
The key things to include in a marketing plan
Watch this video with Enterprise Nation member and marketing consultant Paula Hutchings, who talks about creating a marketing strategy to grow a business.
Scale-up success stories
Paz Sharmah, co-founder of Bad Brownie, talks to us about how the founders' chocolate bond drove growth.
Continue your journey to StartUp in 2020
Go to step ten: [Expanding to new regions