What does it mean to scale a business?
The experts at Investopedia describe Scalability as a characteristic of a system, model or function that describes its capability to cope and perform under an increased or expanding workload. A system that scales well will be able to maintain or even increase its level of performance or efficiency when tested by larger operational demands. In financial markets, scalability refers to financial institutions' ability to handle increased demands; in the corporate environment, a scalable company is one that can maintain or improve profit margins while sales volume increases.
Scalability, whether it be in a financial context or within a context of business strategy, describes a company's ability to grow without being hampered by its structure or available resources. The idea of scalability has become more prevalent in recent years as technology has made it easier to acquire customers and scale.
Are you ready to scale? Don’t leave your notepad! You will want to soak this up in the following sessions: