Scaling Your Business

Warehouse Space

Mistakes To Avoid To Scale Profitably

When business is good, the revenue is flowing in each month, and revenue is steadily growing, business owners are often itching to scale. The trouble is, a lot of them aren’t in control of key components of their business, have no idea what’s actually involved in scaling up a business, and end up finding out the hard way when everything starts falling apart in front of them. – ThinkTyler.com

So, what are the challenges and how can you make sure you’re fully prepared for the climb ahead of you and avoid making these common scaling mistakes? 

Scaling too soon or when your product still has kinks

You’re too busy to grow

Not thinking about the future

Mismanaging your money

Messy accounting

Hiring the wrong people

Or thinking you don’t need to hire anyone!

No clear goal in mind

Focusing on short-term sales rather than long-term demand

Not leveraging technology in your business scaling strategy

Competing on price

Not designing a new management structure following growth

Ignoring problems that arise

Forgetting that scaling your business is sometimes about reigning things in

Growing is good but growing messy is not. It’s better to grow slow and profitably than fast and unprofitably, simply put. Growing unprofitably means there are underlying issues which need to be addressed.

KTI is a small, family-owned 3PL and understands business challenges. We provide flexible solutions for our customers to help them scale profitably. We have multiple warehouses, some of which are food-grade, in Virginia, North Carolina, and South Carolina as well as provide asset-based transportation. If you’re looking for a 3PL partner who will help you on your path to growth, give us a call for a customized quote: (540) 750-0081 or (540) 994-9899. Check out our Services page for more info.

Source: https://thinktyler.com/15-mistakes-business-owners-make-when-scaling-a-business/

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