Scaling Up Success: Strategies for Growing Your Startup Beyond Borders

On 28th June 2023 Entrepreneurship Development cell and IIC in association with Department of Electrical and Electronics Engineering organized a guest lecture on the topic “Scaling Up Success: Strategies for Growing Your Startup Beyond Borders” from 2.00 p.m to 4 p.m. Dr. Vignesh Rajendran B.E., MBA., Ph.D, Assistant Professor, Department of Management Studies, REVA University/Bengaluru/India has delivered a Guest Lecture. 40 students from the EEE department and 1 faculty from the department participated in the program.

The resource person explained the important aspects regarding the startup and the importance of developing startup. Building a successful company is about much more than increasing sales and revenue. When scaling a business, an organization also needs the right strategy, team, and processes in place to support new customers, products, and services. No matter the size of your business, understanding what it means to scale and identifying actionable steps you can take to do so are both key to reaching your goals. When setting goals to scale your business, focusing on both short- and long-term goals is important. By overemphasizing short-term goals, your organization risks scaling too quickly and ignoring infrastructure needs for long-term success.

Businesses that scale too quickly might make the assumption that if the goal is to double revenue, this means the organization also needs to double headcount. This isn’t likely to be a sustainable strategy, especially if revenue growth slows. Instead of building your team with quantity in mind, prioritize quality. Engage skilled leaders who can help oversee and motivate team members. Bring on talented individuals with the specialized skills you need to meet your business goals. A key to successfully scaling your business is implementing repeatable day-to-day processes and effective standardized workflows. Think about which processes can be automated or made more efficient to help your company more effectively scale—whether it’s onboarding team members, invoicing customers, or requesting a marketing asset, to name a few.

The participants interacted with the resource person and gathered lot of information. The participants were enlightened about scaling up of startup and the strategies which can be used to scale up the business venture to the expected level.