Scaling Down Your Business? 4 Ways to Streamline the Process

Hannah Whittenly

December 13, 2017

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Everyone that starts a business wants it to grow, but not all businesses can grow for a number of reasons. The product or service the business offers might be just a fad or only has a short lifespan. Alternatively, the owner is not ready for their business to grow. Many entrepreneurs create businesses that are ready to accomplish great things, so they use the process of scaling to get big results. Essentially, they run their business lean and mean. If that sounds like something that you want to do, here are a few things to keep in mind:

Don’t Be Afraid to Act

Change is difficult. Yet, it is beneficial if you are going to grow your business. Maybe you think that you need more employees every time you get a large order, or you get multiple orders. Instead of hiring, that extra person, don’t be afraid to ask your current employees to work a little bit more. You may be surprised by the results.

Automate Some of Your Processes

The product you market may not have to be handmade. In fact, you could probably use a machine to put it together or package the item. This will allow you to produce more products in an hour and gives you the opportunity to take on more orders.

Delegate

A great leader is a great delegator and it is a difficult thing to do, but you have to delegate tasks to others so that you can be flexible and help wherever you’re needed. If you think you can’t delegate to your current team, then it is time to get another team so that you can delegate. Doing so will help simplify the process as best you can.

Sell off Your Surplus

As you take a look around your company’s property, you may come across equipment that you may no longer need. If you’re scaling down your business, you’ll definitely have equipment that you’ll need to get rid of. If you have a transformer, for example, you could take it to a surplus buyer like the Solomon Corporation. Surplus buyers will take your old equipment in exchange for money and then sell it to someone who could use it. If you’re considering this option, though, you may need to take a look at multiple buyers as many will be focused on certain types of equipment and not necessarily all.

Scaling your business is necessary for any business owner that wants to grow their company. It is not easy but all you have to do is take a few small steps and gain giant rewards