In the scale-up phase, historical financial reporting is never sufficient. When growth is fast, you need to make informed decisions quickly.
Applied analysis on financial and non-financial data creates insights that drive better decisions and increase the probability of achieving desired commercial and purpose-driven outcomes. As your business scales, Finance & Operations must evolve to add value as a centre of business intelligence. World class scale-up CFOs/COOs ensure the business has the capacity across people, systems and processes to deliver consistent, useful and timely information to the whole business.
“Generating high quality, relevant and timely information for decision-making is crucial through the Scale-Up phase.”
Steven Dunne, Senior PartnerView Profile
Improving customer experience
As demand for your product grows it gets harder to deliver the consistent quality necessary for customers to remain loyal. As your business scales there will be more strain and therefore greater need to proactively improve. This includes customer feedback loops, product development, departmental structures, reporting lines and responsibilities, support functions and both customer and team retention.
“Scale-ups need to prioritise the customer experience through product development, operations and service.”
Andrew Betteley, Operating PartnerView Profile
Empowering revenue generation
New business is crucial for all growing companies, whether B2B or B2C, and is a key step to exceeding the Rule of 40 benchmark. The fundamentals are knowing the customer, understanding sales channels and monitoring and responding to influencers and competitor strategies. As you scale, the importance of high-quality recruitment, performance management and team empowerment are core skills to ensure your business still delivers to the same quality. Account management plans, sales management structure, remuneration, incentives and performance management will become increasingly important parts of the process.
“Winning new customers and retaining them to forecast is the key to scaling any profitable business.”
James Bagan, Operating PartnerView Profile