A car going extremely fast faces one critical problem: the difficulty of steering and turning. It’s why formula one racers go around a circular track, not one with multiple twists and turns. The same principle applies to fast-growing companies. And it’s why these types of businesses must find a tailor-fit solution that can keep up with them.
Of course, no savvy business owner would refuse a miracle that would accelerate their business’s growth. It’s part of the dream we’re chasing, after all. However, if not handled well could also quickly become a management nightmare.
If you were on Facebook during its first few years after launch and before everything in it became a data privacy issue, you might be familiar with Zynga. They were one of the first game companies that created exclusive games on the FB browser page. Here are titles that might evoke nostalgia in some of you: Farmville, Cityville, Petville, Texas Hold ’em Poker, and Mafia Wars.
In 2008, it seemed like Zynga had hit the jackpot, with several of their flagship games reaching the double-digit millions in monthly active users. At its peak, Farmville was being played by 32 million people every day. Unfortunately, their sheer size and hyper-fast growth would also be their downfall. They could not adapt fast enough to the general public’s rapid shift to mobile, FB’s algorithm changes to their content, newsfeed, platform policies, and the fierce competition against rising game developers.
They had focused too hard on one trend and market—simple browser-based games for a general audience—and made themselves overly dependent on Facebook. While it initially allowed them to snowball, it also halted them from becoming self-sufficient. They could have easily achieved this feat had they the foresight to expand using, for example, tailor-fit offshoring solutions to sustain their growth.
Signs You're Growing Too Fast
So, what are some tell-tale signs an SME is speeding down the highway and ignoring the speed limits, like a teenager fresh off high school who just got their first car?
Your Company Has No Culture
If your new employees and veteran employees aren’t seeing eye to eye on what the company culture is, you might have a gigantic problem brewing. In a rough definition, culture is the sum of an organization’s attitudes, ideals, and attributes. A company growing too fast will shed and adopt new ideas different waves of people bring. In an environment like that, a solid culture is unlikely to form naturally from employees.
Consequently, this can lead to lower morale in employees and confusion about their job and the company’s vision and culture.
You Don't Have Scalable Systems and Processes
Unscalable processes and systems are problems many startups often have trouble fixing as they start ramping up. Mark Zuckerberg’s motto of “move fast and break things” is the entrepreneurial mindset towards disruption: more is always better. This means doing whatever it takes to get your product to your customers. While, on the one hand, this can foster innovation, it can also become the breeding ground for bad routines and processes in your company.
For a budding startup hoping to break into a market, it’s vital that they deliver on their promises. Sometimes, this can mean sidestepping standard protocols or procedures to get the job done on time. This may work in smaller teams, but it’s an unsustainable approach in the long term and can become a trap if not reevaluated as the company grows.
You're Constantly Running Out of Resources
If you’re noticing that your company’s cash flow, people, and time are spread thinly on multiple projects, it might be a good idea to take a step back and take your foot off the accelerator. There’s a high chance you’re failing your quality control standards in all that chaos and not delivering on your promises to your clients.
A balance must be made between pushing for growth and establishing systems to smooth out your production line.
How Offshoring Is the Tailor-Fit Solution to These Issues
Offshoring is the tailor-fit solution for fast-growing SMEs at or close to their breakthrough point. Most of the abovementioned issues are due to multiple constraints companies face as they expand, their growth limited only by their current resource capacity.
Offshoring, especially with a reliable partner, gives businesses the room and support they need to grow at a pace they can control. A more strategic deployment of current limited resources and access to better talent and infrastructure at a good price might just be what a company needs to reach the next level.
Businesses shouldn’t shy away from growth. However, careful steps need to be taken so that costs, scaling, and operations don’t get out of hand.
iSupport Worldwide Provides Tailor-Fit Solutions to Fast-Growing SMEs
iSupport Worldwide is no stranger to rapid growth. We’ve been part of the prestigious INC. 5000 list for two years in a row now. So, we have first-hand experience handling and adjusting to the challenges of a fast-growing business.
We provide world-class offshoring services, facilities, and management for businesses worldwide. Businesses can save over 70% for their offshoring operations with us. Book a call with us today and let’s discuss how we can keep your business’s momentum going!