Welcome!

News Feed Item

SurePayroll Offers 7 Ways for Scaling Small Businesses

From Launch to Growth Strategy

GLENVIEW, IL--(Marketwired - August 14, 2014) - Entrepreneurs who launch businesses often face challenges in scaling their startups. Taking a business from small to big or good to great requires planning, resources, cash and perseverance -- along with a bit of luck.

According to the Small Business Administration, about half of all new establishments survive five years or more and about one-third survive 10 years or more. As one would expect, the probability of survival increases with a firm's age. Survival rates have changed little over time. http://www.sba.gov/sites/default/files/FAQ_Sept_2012.pdf

In order to survive and thrive, a growth plan for small business owners is vital.

"Ideation, product development and the launch phase of a new business often requires a different skill set -- and mindset," said SurePayroll General Manager Andy Roe. "However, if you consider scale as part of your business plan, you can be ready if your business is ripe for scaling." 

For entrepreneurs, growing your business also requires that your key differentiator has value in the market. "Today, many successful small businesses plan for future growth, however, they still need outside, unbiased perspective to evaluate the viability of scaling their businesses," said Roe. "Mentors, coaches and other outside consultants are important in helping to make scale decisions."

Having worked with tens of thousands of startups and small businesses for more than 14 years, SurePayroll offers these key steps to build your business:

1. Begin with a solid, vetted business plan. As the saying goes, plan the work and then work the plan. Often overlooked or underdeveloped, a robust growth strategy section should be part of your business plan. To scale your business, there may be opportunities both within and outside your business. Look for symbiotic partnerships, organic growth opportunities, growth outside your initial product or service offering. Growth plans also may include acquisition of your company or your business acquiring another organization. Think through the various scenarios of where and how to grow and support it with solid forecasting.

2. Don't reinvent the wheel every day. Design standard processes to ensure products and services are executed consistently. If you plan to grow your business, you cannot do everything forever. Processes allow for quality control. Without them, you'll be siphoning cash out the door due to inefficiencies, internal mistakes -- and worse yet, customer dissatisfaction. Customers are difficult to win, but even harder to keep. Once lost, a customer will rarely return.

3. Identify tools to help you run your business more efficiently and effectively. Invest in tools to help with repeat tasks. Think through processes to automate things like taxes and back-end processes such as payroll. Software solutions, like SurePayroll, will help to save time and money so you can focus on growing your business. Remember, if you get stuck working in your business every day rather than growing your business -- executing a growth plan will be difficult.

4. Build a strong, supportive culture to scale. Begin with a mission, strong values that support innovation and growth and seek these behaviors from employees, consultants and contractors. Without the right people helping to steer the boat, you'll never be able to navigate the murky waters of scale.

5. Ensure access to funding in order to scale. Ideas for growth include new people, processes, products or internal tools. Without access to capital, small business owners may find themselves out sold, undercut and pushed out of the market. Whether its venture capital funds, SBA loans, bank loans, angel investors or other funding options, make sure you know what's available to you so you can hit the ground running when it's go time.

6. Continuously work to understand your customer and network in your industry. Things change quickly in the marketplace. Entrepreneurs who get stuck running the daily operations can lose touch quickly with their customers and networks. Scaling a business means understanding the market needs -- and when the time is right to scale up.

7. Don't go it alone. Identify coaches, mentors and other outside resources to help nurture and grow businesses -- people have been there, done that and got the t-shirt really rings true. While businesses solutions change, key learnings from others will save time, money and stress as you move through the business development cycle.

About SurePayroll

SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter - Circle us on Google - Connect with us on LinkedIn - Like us on Facebook.

 About Paychex

Paychex, Inc. (NASDAQ: PAYX) is a leading provider of payroll, human resource, insurance, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.

Lori Bolas
847-676-8420 ext. 7248
[email protected]

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
SYS-CON Events announced today that Telecom Reseller has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Telecom Reseller reports on Unified Communications, UCaaS, BPaaS for enterprise and SMBs. They report extensively on both customer premises based solutions such as IP-PBX as well as cloud based and hosted platforms.
WebRTC is great technology to build your own communication tools. It will be even more exciting experience it with advanced devices, such as a 360 Camera, 360 microphone, and a depth sensor camera. In his session at @ThingsExpo, Masashi Ganeko, a manager at INFOCOM Corporation, introduced two experimental projects from his team and what they learned from them. "Shotoku Tamago" uses the robot audition software HARK to track speakers in 360 video of a remote party. "Virtual Teleport" uses a multip...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"The reason Tier 1 companies are coming to us is we're able to narrow the gap where custom applications need to be built. They provide a lot of services, like IBM has Watson, and they provide a lot of hardware but how do you bring it all together? Bringing it all together they have to build custom applications and that's the niche that we are able to help them with," explained Peter Jung, Product Leader at Pulzze Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2,...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
While some developers care passionately about how data centers and clouds are architected, for most, it is only the end result that matters. To the majority of companies, technology exists to solve a business problem, and only delivers value when it is solving that problem. 2017 brings the mainstream adoption of containers for production workloads. In his session at 21st Cloud Expo, Ben McCormack, VP of Operations at Evernote, discussed how data centers of the future will be managed, how the p...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...