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Advice on scaling business

  • 01-03-2023 12:47pm
    #1
    FutureGuy
    Moderators, Computer Games Moderators Posts: 15,239 Mod ✭✭✭✭


    Hi all.

    We started our business about a year ago and after a very successful start to 2023, I feel we are in the position to scale our operation.

    My concern is that I know I am leaving a lot of money on the table because, while I am sufficient in most parts of my operation, I'm not an expert, and I'm sure there are a number of ways I can save money.

    Does anyone have any advice on getting expert-level advice? For example, hire someone to sit with me for half a day as I go through everything so they can then suggest ways we can improve. I've talked to my LEO office and its not really something they assist with outside of mentoring and I find much of the mentoring relevant to just services operations rather than goods.



Comments

  • #2
    El Gato De Negocios
    Registered Users, Registered Users 2 Posts: 7,345 ✭✭✭El Gato De Negocios


    Is there a chapter of the Business Networking in Ireland (BNI) local to you? I know a number of people that have engaged with it over the years and all have found it very helpful from areas such as general advice to growing business opportunities.



  • #3
    FutureGuy
    Moderators, Computer Games Moderators Posts: 15,239 Mod ✭✭✭✭FutureGuy


    Not in Limerick, but one in Ennis.



  • #4
    Calahonda52
    Registered Users, Registered Users 2 Posts: 12,881 ✭✭✭✭Calahonda52


    Have you a detailed business plan, along with 3 year finical projections, and a brutally honest SWOT analysis, including barriers to entry, you unique selling point etc etc?

    The title says scale, the body of post says save

    ??

    “I can’t pay my staff or mortgage with instagram likes”.



  • #5
    FutureGuy
    Moderators, Computer Games Moderators Posts: 15,239 Mod ✭✭✭✭FutureGuy


    I have a very honest SWOT analysis completed last year and it's been quite consistently proven correct thus far. I have a business plan but honestly, the business has evolved and it's operating differently to how I envisaged (for the better).

    What I mean by "save" is that I am profitable but if I scale aggressively I know I would need advice so my profits are better.



  • #6
    Limerick_dude
    Registered Users, Registered Users 2 Posts: 60 ✭✭Limerick_dude


    Not sure if you've come across this group might be worth making contact https://www.midwestmentoring.ie/ they might be able to offer you some advice or point you towards another member.



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  • #7
    bikermartin
    Registered Users, Registered Users 2 Posts: 335 ✭✭bikermartin


    Great to hear about your success. One approach can be hiring a business consultant or a coach specializing in scaling businesses. They can provide practical insights and strategies tailored specifically to your needs and situation.

    Another strategy is to leverage technology. Implementing management software can be a smart move for tracking performance and identifying inefficiencies. You can use this performance tracking tool - it offers a good solution for keeping track of staff productivity. It might help you find and address operational bottlenecks, ultimately allowing for more streamlined processes and better decision-making.



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