Not all retailers are content to simply run a small business at a single location. Ambitious entrepreneurs want to scale up their operations.
But scaling is one of the most difficult things that any business will ever do, short of opening their doors in the first place. Obviously, there are many practical hurdles, such as access to credit. Not every young, unproven business can convince a lender to fund its push for growth. And even if that can be surpassed, there is still the challenge of retaining and growing the existing customer base. Scaling any operation involves necessary disruption, which brings a lot of new risk into the equation.
"Scaling is one of the most difficult things that any business will ever do."
There are – to name a few examples – new locations to scout, organizational plans to draw up and management hires to be made. And all this has to be done without losing sight of the core business that has attracted loyal customers in the first place.
However, today's retailers may have a unique advantage, because there is no better time to collect the data they need to make intelligent growth decisions.
You can't grow your business without also scaling your core analytics. Rather than simply expanding and struggling to maintain a customer base amid the changes, build up the data collection and analysis of your customers to make the best decisions. Don't let your business get bigger than your ability to use data.
Interactive Edge offers a number of creative ways to get the most out of your data and meet the many challenges that your business will face as it grows. Check out the rest of our website to learn more about the services we offer to our clients.
