Positioning your business for growth should be done from the very beginning so you’re prepared when your organization expands or advances—whether those changes are anticipated or unexpected. It’s never too early to start thinking about how technology can position your business for success and how your systems will need to scale.
Get ahead of the growth game by considering these six factors:
Goals and Growth Strategy
What does growth mean to your business, and how will you recognize it? Is it number of clients or customers, brand awareness, revenue, locations, employees, or some combination of the above? How does your technology need to scale to account for growth in each of those areas?
Your customers are your top priority when considering business growth. If customers aren’t initially satisfied while interacting with your digital product, site, or application, they may not come back or recommend your business to their friends, family members, and business network. Could a spike in orders or local news coverage put a drain on your website? Are there times of the year when you see more traffic coming through? If so, a scalable digital ecosystem is essential.
Managing the growth of data is labor-intensive and requires staff members to have specific expertise for hardware and software upgrades. Reduce this complexity as much as possible by implementing technology that automates these processes or hosts resources in the cloud (and gives your employees a break).
Security breaches can compromise customer data, and depending on the severity of the breach, you could even lose revenue. Ensuring your data is secure is not just an option for any business. Make sure your customer data and payment information is stored in a system that is both scalable and secure as it continues to grow.
Your data is everything. A crash could compromise order details, customer information, payment specifics, and product materials. For companies experiencing rapid growth, a faulty backup system can be catastrophic. In-house servers without proper redundancy can leave you in a bad place. Do your homework and invest in a backup and recovery system that won’t leave you high and dry.
Processing payment transactions and storing customer credit card information on in-house servers is incredibly dangerous. If your internal environment isn’t reliably secure and monitored around-the-clock, you’re at risk of falling victim to hacking schemes. Partnering with a vendor that can keep payment information secure, regardless of how many orders are processed, is a great way to protect your customers and your business.
This all may sound overwhelming, but the good news is that plenty of businesses have secured their data while implementing the scalability needed to handle expanding business. Whether you’re a new business or an established company, there’s always time to implement the technology you need to grow.