One thing lots of people don’t think about prior to launching a business is how they’re going to scale – but if growth is an aim of your business, and for many it is, you need to think about how you will get there.
We launched in 2014 after myself, Kev, and Sav each invested just £750 each of our own money – and four years later, Mo Bro’s is a multi-million-pound company with a customer base of 250,000 people and trading in 78 different countries. This hasn’t happened overnight, but we’ve had to work on scaling, which has been one of our toughest challenges.
The most important thing to think about before scaling is if you and your business are ready. During this process it’s likely profitability will take a hit, and stress levels might be heightened. To grow it’s likely you might need to find new staff, find new premises, outsource work, or secure more investment – all things that can add to stress and impact the bank balance.
To help with scalability – and the things that are involved in that, whether it’s attracting the best talent for your team or reaching out to investors – you need to market your business. Marketing can be done in many ways, from social media, SEO or PR, but you should look to get expert support within your budget. Growing your business will be incredibly difficult if you have no profile.
As the leader or founder of a business, it cannot be stressed enough how important it is to take a step away from the day-to-day during the scaling stage. We know that delegating responsibility to someone else can be daunting, but it’s only when your business is ticking over without you that you can fully-focus on growth.
The last tip is to focus on where you want to be, not where you are. Sometimes adjusting your mindset is key – if you think like a £100k business, you’ll stay a £100k business; think like a £100m business and there’s no knowing how far you might go.
Mo Bro’s is a British male grooming brand, founded in 2014 by three brothers; Kunal Dattani, Savan Dattani and Keval Dattani, after they all took part in Movember and realised they each needed different products for each of their beards. The multi-million pound company recently featured on Dragon’s Den and received the biggest investments in the show’s 13-year history, and the biggest since 2015.
