Have You Taken the Training Wheels off Your Business Yet?
It’s not every day that we get an opportunity to grow our businesses, but more often than not, it’s not the lack of opportunity that holds our startups back–it’s a lack of vision. Just because your company is branded a “startup” or an “at-home” business, it doesn’t mean that you shouldn’t think big and remove those training wheels to truly give yourself the motivation and encouragement you need to scale your company.
But what do we mean by training wheels and does it apply to your business as well? In this article, we’re going to cover how you can finally change the mentality towards your business and start growing your company.
Adopting the industry standard
Industry-standard solutions are often expensive, seem unnecessary and difficult to teach to your employees. However, some industry-standard solutions gain their reputation because of their flexibility and powerful features. A good example would be eventually upgrading your Google Drive-focused workflow to Office 365. While it can seem expensive to pay a yearly subscription fee for what’s essentially a word processor, it offers far more features that can help a growing business.
It’s important to research what tools are considered industry-standard in your line of work so that you can adopt those software and hardware tools into your own workflow. Of course, this isn’t always necessary depending on the type of business you’re running, but if scalability is a concern then you’ll want to look for the solutions that the larger companies use and figure out how you can adapt them to your needs.
Taking production into your own hands
Whether it’s building your own logistics systems using advanced machinery from specialists like Conveyor Systems Ltd or setting up overseas deals with manufacturing plants, there are countless ways to take production into your own hands and leave behind the expensive middlemen. Making your own products gives you full control over every aspect, making it far more desirable for serious businesses that want to both save money and improve the quality of their products.
Of course, this isn’t a cheap way to grow your business. Unless you’re serious about growing your company and meeting new heights, you’ve undoubtedly got a lot of considerations to keep in mind when you take production into your own hands. You’re likely going to need financial advisors to help you calculate the costs of manufacturing your own products and how long it’s going to take to recuperate the costs. While it’s certainly an expensive way to scale your company, it’s undoubtedly one of the training wheels that you will eventually need to remove if your business is focused on offering products to paying customers.
No more cheap solutions
There’s a big difference between “cheap” solutions and value-oriented ones. The main concern is that the cheaper solutions you’re paying for might be a good way to get started in your industry of choice, but it’s not a solution that will net you the most attention, customers or productivity.
A good example of this would be in web design. There are countless web building tools and templates out there, but do you really want to use a cheap website over something that can be custom-made to your needs by a freelance web designer? There are lots of problems with using a cheap website and the quality reflects on your business. If you’re only using a cheap template or something that is free and provided by your web host, people are going to notice and they’re not going to like how little work you’ve put into your company’s online presence.
As a result, make sure you’re not going for cheap solutions all the time. Spend a little more money on the solutions that make your business more professional and invest time and effort into making your company stand out from the competition by avoiding cheap and free solutions to your problems.
In conclusion, there are many different ways to take off the training wheels of your business, but you need to identify what you’re doing that is holding your company back. Just like riding a bike, it can be scary once you take off that safety net which keeps you from falling over, but unless you brave those consequences, you’re not going to realize your full potential as a business. In short, look for ways to remove those precautions and safety measures and learn to take calculated risks that have a chance to grow your business to new heights. If you don’t do this, then you’re going to have a rough time as an entrepreneur.