/skeɪl/ noun
The process of rapidly growing and expanding business, typically in terms of revenue, customer base and employee headcount.
“You just need to be comfortable with where what the right size of growing your venture to is. And that's what scale is.” El-Shebah Migwalla
It is easy to assume that scaling a business simply refers to getting more revenue. What investors are truly looking for is for a business that shows the ability to yes, grow its revenue, by gaining more customers and moving into new markets. That being said, it is equally important to understand that a business that is scaling is a business that is looking to be at the optimal size relative to its product, its competitors and unique selling points.
Join El-Shebah as she discusses the ins and outs of thinking about scale when building your business. El-Shebah Migwalla is the New Business Development & Partnerships Executive at TymeBank. This episode delivers on insights and practical suggestions on how to think about how you scale your business and lose the focus you have on building a purpose-led business.
Here are the questions we asked El-Shebah:
What do we mean by scale?
If I’m thinking about scaling, do I need to be thinking about new markets?
When talking to an investor, how far into the future should my projections go?
How do I show an investor that I understand what is needed for my business to scale?
What are the key metrics I need to have when addressing scale with an investor?
What is the role of IP in scaling?
What is the relationship between the optimal scale of my business and the purpose of my business?
Watch the episode here:
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About Let’s Get Funded
Branson Centre has partnered with the UK SA Tech Hub, an initiative of the UK Government, to create our on-demand series ‘Let’s Get Funded’, for founders looking to get funded. We connected with South Africa's most experienced and inspiring female finance professionals to discuss investor readiness. Let's Get Funded challenges traditional financial and investment content norms with a conversational 9-part series of on-demand content.
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Crafting a Convincing Pitch
The Crucial Role of Scale in Attracting Early-Stage Investment
Effective storytelling plays a pivotal role in capturing the attention of investors. Therefore, it is vital to address the following questions during your pitch and conversations with potential investors. Equally important is to substantiate these aspects through compelling evidence in your scale.
By addressing these key areas and supporting them with compelling evidence, you will significantly enhance your pitch and attract potential investors.
