Building systems was one of the best things I did in our accounting business. It allowed us to automate repetitive tasks, freeing up valuable time for our team to focus on supporting clients and strategising for growth.
When you’re starting out in business, it’s all about hustle—throwing things at the wall and seeing what sticks, scrambling for clients, and chasing cash flow like your business depends on it—because it does!
But as you move from those sometimes chaotic early days into the scaling up mode, everything changes. Suddenly, you’re not just asking where your next client or customer will come from; you’re faced with new questions like, “How do I manage all these clients?” and “What can I do to drive more growth?”
This shift in mindset is crucial if you want to transform your startup into a thriving, scalable business.
To help you navigate this exciting yet challenging landscape, here are five questions you should be asking as you aim for scalable growth.
And remember, if you’re unsure about any of these questions, don’t hesitate to ask your accountant. Regular discussions with them are essential for aligning your business’s financial health with your growth ambitions.
The truth is, many small businesses miss out on valuable strategic advice simply because they aren’t sure what to ask or because they see their accountant as just the numbers person who keeps the books in check, rather than recognising them as a strategic growth advisor for the business.
And yes, the onus should be on accountants to take an active role in their clients’ growth journeys. They should proactively offer insights and guidance, rather than waiting for business owners to come with questions. But if that isn’t happening, treat these questions as a good conversation starter, ok?
Do I have a scalable product or service and business model?
Understanding whether your product or service is scalable is fundamental to your business’s future growth. A scalable business model allows you to grow and increase revenue while managing the corresponding increase in operations and costs. This efficiency is crucial for maximising profitability and ensuring that growth doesn’t lead to unsustainable operational challenges.
And if you’ve ever tried to scale an unsustainable business, you know exactly what I mean: it can feel like trying to inflate a balloon that’s got a hole in it—no matter how much effort you put in, it just won’t hold up. You may find yourself overwhelmed with expenses and stressed-out employees. You end up spending more time putting out fires than pursuing new opportunities. So, take a good, hard look at your offerings and business model. Ask yourself, can they handle growth?
What is my addressable market and how am I going to reach it?
Identifying your target market is crucial for effective marketing and sales strategies. Knowing your addressable market helps you understand the size and demographics of your potential customer base. Consider how to reach this audience effectively—whether through digital marketing, partnerships, or traditional methods—and plan your strategy to ensure you can tap into this market efficiently as you scale.
What is my strategy for building a strong team to support growth?
As your business grows, so does the need for a capable and dynamic team. Developing a strategy for hiring and training staff is so important for maintaining quality and innovation. A strong team can drive new initiatives, improve productivity, and foster a culture that supports scalability. I’d certainly be lost without mine. Assess how you will attract and retain talent as your business evolves.
How am I leveraging technology to enhance efficiency?
From automation tools to customer relationship management (CRM) systems, leveraging technology can streamline processes, reduce costs, and enhance customer experiences. Taking the time to explore new technologies and invest in setting them up will position your business to scale effectively by maximising productivity and minimising manual tasks. Building systems was one of the best things I did in our accounting business. It allowed us to automate repetitive tasks, freeing up valuable time for our team to focus on supporting clients and strategising for growth.
Am I in regular conversation with my accountant regarding my goals and strategy?
I’m so passionate about this, and for good reason: your accountant can be one of your most valuable allies in business growth and scalability. Take my client Sophie Margetts, the founder of Socoh Salon, for example. When she opened her second hair salon, it wasn’t a shot in the dark. It was the result of meticulous business planning and strategising, done hand in hand with her accountant—yours truly— over two years. It’s a game-changer.
In this environment, accountants must do a better job of highlighting their strategic value and proactively engaging with clients beyond just completing clients’ BAS statements and crunching numbers. It often doesn’t come naturally to us, but it’s something we must get better at because the results of our work, though often hidden, are indispensable to the success of businesses around the world.
By reflecting on these questions, you can gain clarity on the decisions and strategies needed to create a scalable business that thrives in today’s competitive landscape.
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