Reflection on Growth

Kristin Harris

Kristin Harris

GM Strategic Partnerships

April 24, 2015

Reflection on Growth

Kristin Harris, GM Strategic Partnerships
April 24, 2015

Growth is utmost on our minds at the moment as we have the privilege of watching Deputy grow at an increasing pace.

Naturally we look to our internal scalability capabilities and infrastructure abilities. We’re happy to tell you as far as our infrastructure abilities go we are infinitely scalable (keep coming customers) and we are delighted to be adding to our clever and capable team in every department monthly.

Growth and scalability is a subject close to our hearts not just from an internal perspective but for our stakeholders too, I’m talking about our customers.

Every new business owner has a dream when they start their business. The dream of wanting their business to grow and scale, maybe even go global. Why not? You have to dream big to achieve big results.

However, the dream can quickly turn into a stressful burden as the business starts to grow customer demands can start outweighing the business’s operational abilities. Staff often start reinventing the wheel every time a new opportunity comes up, double handling work and administration tasks. Accountability in the workplace becomes “nigh-on-impossible” and team culture can start to slip as individuals feel pressured, overworked and undervalued.

ABS data suggests just over half of new businesses in Australia fail within four years. “The survival rates for new businesses are significantly lower than for those businesses that were already established.” (source The Age, August 6, 2012). It’s common in a new business for core management’s energy to be centered around staffing and administration. This limits the ability to scale when market growth is in the ‘opportunity’ phase.

Cost efficiencies

Deputy recognises small businesses tend to have higher net operational expenses and funding growth tends to be more expensive than for big business.

The Australian Small Business Key Statistics and Analysis verifies that during 2001 to 2008, small businesses paid a premium of about 1.5 per cent above and beyond the lending rates faced by large businesses. However, this spread jumped to 2 per cent following the global financial crisis and has remained at elevated levels since.

This extra burden on small businesses coupled with a need to ride the wave of opportunity when it occurs can have a catastrophic effect when resources are stretched and these opportune moments are unable to be taken advantage of when they do occur.

Barriers to innovation and growth

The report indicates barriers to innovation in 2010–11 for active businesses:

7.2 per cent of micro businesses, 6.9 per cent of other small businesses, 3.1 per cent of medium businesses and 4.5 percent of large businesses reported a lack of access to knowledge or technology to enable development or introduction/implementation as a barrier to innovation.

With this in mind, the team at Deputy look to provide a platform with features centred around growth and scalability. All new features are crafted in the simplest way with the aim to achieve maximum results. We love bulk actions where possible. Our software is “architectured” to allow our customers to carry out their dream of creating their customised business environment, organisational processes and use these to scale as their organisation expands.

Providing customers with a solid and trusted platform on which to construct, realise and expand their dream business is our aim and cannot be valued highly enough.

Important Notice
The information contained in this article is general in nature and you should consider whether the information is appropriate to your needs. Legal and other matters referred to in this article are of a general nature only and are based on Deputy's interpretation of laws existing at the time and should not be relied on in place of professional advice. Deputy is not responsible for the content of any site owned by a third party that may be linked to this article and no warranty is made by us concerning the suitability, accuracy or timeliness of the content of any site that may be linked to this article. Deputy disclaims all liability (except for any liability which by law cannot be excluded) for any error, inaccuracy, or omission from the information contained in this article and any loss or damage suffered by any person directly or indirectly through relying on this information.

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Kristin Harris
is GM Strategic Partnerships, advising and working with Deputy’s customers and partners.

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