It’s every entrepreneur’s goal to grow their revenue at a faster rate without incurring new costs. But in reality, most scaling efforts are a complete failure.
Scaling up is easier said than done, notably if your business doesn’t have sufficient systems, infrastructure, and teams to accommodate growth.
One of the typical reasons most businesses fail in their scaling ventures is they do it quickly. For example, they have increased demands but don’t have the technology or a business model to support and deliver what their customers need and want.
As with any other business endeavor, successfully scaling your company requires the proper planning and resources. Fortunately, these days, technologies like project management tools make it easier and less costly to scale a business.
Here are the ways project management tools can help organizations scale.
Facilitates Better Communication and Feedback Loops
Miscommunication is one of the biggest barriers companies face when scaling up. There are many ways to communicate nowadays, from emails and social media to mobile phones and in person. Unfortunately, these avenues of communication don’t always ensure everyone is on the same page all the time.
Proper communication and feedback loops are essential to scale a business, regardless of size. Any breaks in sharing and sending information can be disastrous in any project plan.
Organizations can prevent this from happening using a project management tool.
When managing a project related to scaling your business, a project management tool can help keep everyone working collaboratively. Even if located in different parts of the globe, employees across the organization will have the same real-time information. This makes it easier for every team to communicate their project goals, inquiries, or concerns and get the correct responses.
Instead of spending time searching for answers and notifying everyone manually, your business can optimize both internal and external communication. You can provide your teams and clients with the ability to log in and view project data that are relevant to them.
Makes Estimation Process More Efficient
Estimation is crucial to the timely development and completion of projects. But, as your company scales, such projects can become larger and more complex. This makes it extremely taxing for you to figure out realistic deadlines.
How can you be sure you’ll have the right people, materials, or tools if you don’t have a rough calculation of how long a project will take? Without accurate estimation, it’s impossible to create a feasible plan that will successfully scale your business and lead to results.
A simple project management tool can help make the estimation process more efficient. Your organization would be able to develop estimated ranges of how much time, effort, and money it will take to deliver valuable solutions.
Identifies True Resource Capacity
Any organization needs to ensure they have enough capacity to scale up. No matter how well-crafted your project is, it will be in danger without effective resource capacity planning. It’s crucial to factor in identifying the optimal levels of operations.
What are the proper production levels your business needs to maintain to ensure it can handle any rise in demand? How many facilities and personnel are required during specific timeframes?
What are the specific skill sets necessary to produce or deliver services for anticipated demands from your customers?
Resource capacity planning can give your business a roadmap and timelines to develop a more informed and realistic projection. It eliminates the need to guess and ensures you have the right resources available at the right time. However, note that it requires optimizing resource schedules, and a project management tool makes that possible.
Prioritizes the Right Project-Related Tasks
Like other business goals, establishing priorities is vital when scaling a business. It’s easy to get overwhelmed as your business moves forward and says yes to any unrealistic demand. That’s why your organization needs to understand what goals and objectives you must focus on before shifting into scaling mode.
Business resources are limited, so you must ensure everything your teams do aligns with your company’s goals. However, this is the problem with many organizations. Due to a lack of prioritization, they spend their time and money on less urgent and vital projects.
Committing to too many projects can only put your scaling efforts more at risk for failure. But by using a project management tool, your team can better prioritize project-related tasks that will bring you closer to meeting your company’s goals.
Tracks and Manages Project Deliverables
In the ideal business landscape, projects should run as smoothly as planned. But that’s not always the case. When scaling up, businesses often face issues that they don’t anticipate. While there’s no way to eliminate potential bottlenecks, the key is to monitor every project and resolve any problem as early as possible.
It’s another way a project management tool can help scale your business with more success. As a cloud-based collaborative workspace, it will give your organization real-time visibility on the status of every deliverable. It doesn’t only make monitoring progress much more manageable. But it also helps detect issues that could hurt the project’s timeline and budget.
Scale Up With the Right Project Management Tool
Project management tools help organizations scale. Automating and integrating your data in one place allows your business to expand with less labor and cost.
But not all technologies are created equal. So it would be best to equip your business with information on investing wisely in the right project management tool.
Some technology tools like Jira are complicated and will only confuse the users. When searching for a project management tool, ensure to find a Jira alternative that’s easy to use and has long-term scalability. You would not want to use something that won’t accommodate significant growth a few years later.
One Last Note
Effective project management is often the most significant roadblock organizations face when growing or scaling up. A project management tool provides enormous leverage so things can go as planned. However, it’s worth noting that using technology is only one part of the equation. Implementing the right strategies still plays a crucial role in achieving your business goals.