The difference between a small business or startup and a successful and profitable company typically boils down to time and experience. But, there are certain factors that play a big part in how those companies grew to be successful — things like timing, having the right people, focus, and intensely hard work. Remember that every big company was a startup at some point.

Even though, statistics and researchers tell you that the odds are stacked against you and the probability of failing is high, there are plenty of opportunities to succeed.

The story of how Jumia started as a startup in Nigeria, conquer the many challenges in the most populous country in the world, expanded to other African countries to the extent that it has been tagged by many as ‘The Alibaba of Africa’ is one that should inspire every entrepreneur. The eCommerce company has empowered, employed and contributed to the African economy since it birthed in Nigeria.

So, for entrepreneurs who are looking at scaling and taking their business to the next level, here are some of the ways to overcome these challenges.

Keep processes as simple as possible

Complexity slows businesses down and inhibits growth. It requires more meetings, more explanation, more refined communication with the customer, more people in the workflow, and more cogs in the machine. As businesses grow and scale, the key dynamic that slows progress and, at the extreme, impairs a business, is the effect of complexity. Complexity rears its head as products evolve, organisations grow, and business strategies change. Therefore, the bosses in charge of growing companies need to be aware of the impacts of growing complexity and take actions to continuously simplify the operations and strategy of the organization.

Win the love of your customers

While customer acquisition is important in any business, you need to focus on the customers you have so that you can win their love. Customer perceptions can make or break a business. If you deliver quality experiences, products, and service, and you make every effort to delight your customers, then they’ll sing your praises. When you delight your customers, and they share that delight, your business will grow. Winning the love of your customers doesn’t have to be a time-intensive operation and you don’t have to completely restructure your business model. You just need to operate in a way that anticipates their needs and stays with them beyond the point where they make that first purchase.

Stay tuned in to your business

As you grow your business, one of your goals should be hiring smart, talented people to handle various tasks. As a business owner, you can’t be involved in everything, so it’s important to delegate and let other, better-suited people handle the work. But that doesn’t mean you should step back and tune out. Just because it’s being handled, doesn’t mean you’re not involved. When you stay tuned to your business and are aware of your surroundings, you’ll better anticipate the need for change and adjustment and be able to quickly pivot and adapt when the time comes.

There are no shortcuts in scaling

As your business begins to grow, you may be tempted to make cuts and take shortcuts in order to reach your next goal faster. There’s no more surefire way to cripple your business than to cut corners and try to take the easy path to success. Every action you take now has repercussions later. When you take shortcuts, you make compromises. You compromise your ethics, your values, and the integrity of your business — often at the expense of the customer and your employees. The rule of thumb is for you to do the job.

Ask for help

Too often, entrepreneurs view asking for help as a sign of weakness. They think that asking for help means they’re somehow exposing their vulnerability. The most successful entrepreneurs didn’t become effective leaders because they were good at bossing people around or because they had all of the answers all of the time.

Source: How to Overcome the Challenge of Scaling Your Startup

You don't have a business yet?

This list might help you on how to get started in 2019.

cc: Lalasticlala, Mynd44

Thanks for sharing Im still saving funds for startup

Preetti:
Thanks for sharing
Im still saving funds for startup

Save well, be smart. Don't use money to solve a problem that can be overcome by good thinking. The simplest advice I can give as you start your journey.

Good point

Very good thread

OK sha

Nice one bro...Startup is always difficult(I have first hand experience about this)...just don't let the challenges overwhelm you when they come cause they will definitely come..

Started mine this year and so far so good �

You forgot to add.

Have billion of investors money for you to waste

go to harvard business school and employ some of their MBA give them cash.send them to go and establish your business and tell them to make cash afap.


Jumai didnt start small. They are a bad example to use.

every successful business was once a start up.... start small but don't remain small. only time will tell and we will get there. #entrepreneurforlife

Do u av any link u check u out

Luciferlove:
Nice one bro...Startup is always difficult(I have first hand experience about this)...just don't let the challenges overwhelm you when they come cause they will definitely come..

Started mine this year and so far so good �

Good thread...

Nice one OP.

My advice for start-ups is to start small no matter how rich you are.
Start small, test the waters, make your mistakes and correct same, avoid over-employing etc until you stabilize the business.

pls nairalanders tell Candyness to leave me alone

Great write-up!Quite enlightening.

1. Concentrate on serving existing clients
2. Treat the new orders as a different part of the same business. That way your old customers don't suffer and you'll still be able to measure the progress of the new ones. Any interruptions from scaling should come from New orders not the tried and trusted clients
3. Most premium CRM software already contain embedded scaling capacity. Work with your IT to upgrade to scale
4. Don't be in a rush to hire too many hands just by projections. Hire according to need. Always make sure your existing staff have room to handle a little more extra workload. Never run with an over extended staff
5. Don't be shy to refuse new orders you will be unable to meet while scaling. Remember reputation is hard built but easily destroyed
6. Break down tasks into smaller teams with distinct responsibilities for distinct people in teams. Project manage the s*hit out of the process
7. Merge your 2 layers of operations once you get a handle of it
8. Use all encompassing or plug in ERPs that can handle all aspects of your scale. Operations, CRM, HR, Finance etc
9. Always communicate to the necessary components that will be affected by scale

Interesting read. Something def for me. Can we have more contributions from real life experiences? Where the entrepreneurs at?

D only thing I need is capital.. Leave me with scaling and other challenges

page saved for future reference

Indeed bro, indeed!

allytinted:
page saved for future reference

I need this... brain nor go keee you

Yankee101:
1. Concentrate on serving existing clients
2. Treat the new orders as a different part of the same business. That way your old customers don't suffer and you'll still be able to measure the progress of the new ones. Any interruptions from scaling should come from New orders not the tried and trusted clients
3. Most premium CRM software already contain embedded scaling capacity. Work with your IT to upgrade to scale
4. Don't be in a rush to hire too many hands just by projections. Hire according to need. Always make sure your existing staff have room to handle a little more extra workload. Never run with an over extended staff
5. Don't be shy to refuse new orders you will be unable to meet while scaling. Remember reputation is hard built but easily destroyed
6. Break down tasks into smaller teams with distinct responsibilities for distinct people in teams. Project manage the s*hit out of the process
7. Merge your 2 layers of operations once you get a handle of it
8. Use all encompassing or plug in ERPs that can handle all aspects of your scale. Operations, CRM, HR, Finance etc
9. Always communicate to the necessary components that will be affected by scale

Is there anybody here that is skilled with business plan writing esp for a Pharmacy start up?

nice one... I advise everyone to start a business at least once in their lifetime

Okay o

Started mine 2015 it's not be easy but God has being faithful. Thanks for the write-up Op

Sholaystar4me:
I need this... brain nor go keee you

Lol. When you do something again and again it becomes involuntary. I used to like the adrenaline of process change but the stress can be very hectic too, so I'm taking it slow now

Sholaystar4me:
Is there anybody here that is skilled with business plan writing esp for a Pharmacy start up?

Where do you want to establish it?

looking at Ilorin, lagos and Abuja. but one state at a time

Yankee101:


Where do you want to establish it?

Sholaystar4me:
looking at Ilorin, lagos and Abuja. but one state at a time

You have a pharmacy license available? I have one business plan but I have to search for it. Maybe tomorrow

Bible has solve this problem over 4000 years ago

Proverbs 24:27 (KJV) - Prepare thy work without, and make it fit for thyself in the field; and afterwards build thine house.