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0:00
My name is Professor
Milé Terziovski.
I'm a former engineer with a
multinational organization
and a PhD from the
Melbourne Business School
at the University of Melbourne.
My PhD was in Quality
Management and Innovation.
For the past seven years,
I've been working at Swinburne
University of Technology
as a tenured professor of
entrepreneurship and innovation,
where I held the role
of Department Chair of
Business Technology and
Entrepreneurship for six years.
0:30
Today's topic is Topic 8:
Scaling and Growth Strategies.
Scalability is about
achieving profitable growth,
and it's therefore a
fundamental consideration
for managers and investors.
Scalability refers to
systems' ability to
expand output on demand
when resources are added.
Therefore, scaling a
technology startup
is a challenging journey that
requires careful planning
and execution across various
operational aspects.
This topic will
discuss strategies
for scaling a
technology startup,
operational considerations
in scaling and growth strategy,
we'll look at supply
chain management briefly,
growth strategies
such as partnerships,
the importance of developing
innovation capability
and a scalable business model,
and we will look
at a case study of
Shopify and how they grew from
a small startup to a
multi-billion dollar company
serving over a million
businesses globally.
1:33
A figure on scaling and growth
can be seen on the slide.
1:40
Key factors for scaling
a technology startup.
A scalable business model
is one that is flexible
and where the addition of
new resources brings
increasing returns.
Operational considerations.
These are the key factors
that we need to consider.
Streamlined processes:
Establish efficient processes
to handle increased demand.
Automating repetitive tasks,
optimizing workflows,
and using technology tools
to enhance productivity.
Need to establish
performance metrics:
Define key performance
indicators to monitor growth,
customer satisfaction, and
operational efficiencies.
Regularly review these metrics
to identify areas
for improvement.
We need to have
flexibility and agility.
Ensure that your
operations can adapt to
changes in market conditions
and customer needs.
An agile approach allows for
quick pivots when necessary.
For example, Shopify developed
a scalable cloud-based platform,
allowing businesses
to grow without
worrying about
infrastructure limitations.
The company
continuously improved
its platform based
on user feedback,
enhancing functionality
and user experience.
Culture and hiring practices:
