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Sean Frank of Cloud Equity Group Shares Tips on Scaling a Small Business

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Scaling a small business can be a challenge for entrepreneurs. Most businesses reach a plateau and their growth rates diminish and revenue begins to flatten. In this article, Sean Frank, a serial entrepreneur and founder of New York City-based Cloud Equity Group, offers insight on how entrepreneurs can successfully grow their business.

Cloud Equity Group is a strategic capital partner for tech-enabled business service providers. The firm has operational experience in cloud hosting, managed service, and digital marketing. Cloud Equity Group is a hands-on investor with a long history of scaling businesses with decelerating or negative growth rates.

Motivated and Competent Teams

People are the single most valuable asset of any business, especially when it comes to scaling. As Sean Frank puts it, “It’s impossible to do everything yourself. Working with a group of individuals who are as motivated as you are to see the business succeed improves the likelihood of success tremendously.”

It’s natural for an entrepreneur to have the mentality that they can do everything, or that they are needed to do everything. While this can work for a small company, it’s not a productive mindset and it inevitably leads to a bottleneck in a company’s growth trajectory. It can be difficult at first for an entrepreneur to rationalize paying a competitive salary to offload some of their work, and it can be tempting to try to leverage “cheap labor;” however, hiring strong individuals who add value to the business, and align their interests with those of the founder, is an integral part of growing any business. The CEO of a company doing $1M in revenue is likely running and managing most of the daily operations of the business. In order to grow to $10M+ in revenue, the CEO needs to effectively delegate much of the day-to-day management to managers so that they can focus on strategic planning and growth initiatives. It’s a matter of the best use of the entrepreneur’s time. If something can be handled by someone else, particularly if it does not directly translate into growth or value creation, then it should be delegated.

Constantly Adapt the Produce or Service

Businesses are ever-adapting in response to changes in technology, economics, and politics. It’s imperative to be mindful of these changes and to adapt accordingly. As Sean explains, “stale businesses that don’t adapt inevitably die.”

Cloud Equity Group aggressively seeks and incorporates feedback both from customers and employees on how to improve its service offerings. “In my experience,” shares Sean, “company-loyalty improves tremendously when employees or customers recognize that you care. In competitive industries, where customers can easily switch to other providers, it’s vital to show that their feedback is not only welcomed but also acted upon. These two steps go a long way to keep customers happy and for business growth.”

Partnering with Strategic Capital

It can be very tempting for entrepreneurs to accept capital into their business as soon as it becomes available. On one hand, a liquidity event could be seen as diminishing the success available to the entrepreneur. On the other, it may advance short-term funding needs that will, ideally, project the company forward. Accepting capital from an investor is a long-term commitment and it’s important to nurture a strategic capital partner as opposed to accepting any capital that’s available.

For example, a capital partner that’s willing to offer what seems like a lot of money for 50% of your business may be appealing in the short term, however, if the partner can’t help a business double in size, it’s a net loss. Choosing a capital partner that believes in your business, helps solve inefficiencies, and adds value is key. Sean Frank proposes that “it’s always better to have a small piece of a large pie than a large piece of a small pie — especially if that large pie continues to grow.”

 

Rosario is from New York and has worked with leading companies like Microsoft as a copy-writer in the past. Now he spends his time writing for readers of BigtimeDaily.com

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Business

Outsourcing Front-End Development Services: Insider’s Guide

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Outsourcing front-end development services has become increasingly popular in recent years as companies look to access specialized skills and expertise, and save on labor costs. According to the Global Outsourcing Survey made by Deloitte, the top reasons for outsourcing front-end development are to access specialized skills (57%), cost savings (50%), and to free up internal resources (49%).

This article will cover some frequently asked questions (FAQs) in a Q&A way to help you make an informed decision when considering outsourcing front-end development services. We’ll address concerns such as how to find the right vendor, how to communicate effectively, and how to manage the project to ensure success. By the end of this article, you’ll have a better understanding of the considerations and best practices for outsourcing front-end development services.

What is front-end development?

Front-end development, or client-side development, refers to designing and implementing a website’s or application’s user interface (UI). It involves creating the layout, visual design, and interactive features that users interact with when they visit a website or use an app.

Front-end developers use a variety of programming languages and technologies to build the UI, including HTML, CSS, and JavaScript. They also need to have a strong understanding of user experience (UX) design principles and be able to create visually appealing and intuitive interfaces that meet the needs of the target audience.

Front-end development plays a crucial role in the user experience of a website or application, and it’s an essential part of any digital product. The work of a front-end developer often intersects with that of a UX designer and a back-end developer.

Why should I consider outsourcing front-end development services?

As mentioned in the intro, there are several reasons why outsourcing front-end development services may be an excellent option for your company. One of the main reasons is cost savings. Outsourcing is often more cost-effective than hiring in-house developers, especially if you only need front-end development services for a specific project. 

Also, a company can benefit from a vendor’s specialized skills and experience and the ability to scale its development resources as needed. This can be especially useful for companies with fluctuating project demands or in need to quickly ramp up or down their development efforts.  

In addition, outsourcing front-end development can allow a company to focus on its core competencies and improve the overall quality of the product, as well as save time by delegating the development work to a vendor. 

How do I find the right front-end development company to work with?

Finding the right front-end development company to work with is crucial for a successful project. Start by defining your project goals, timelines, and budget, and research potential vendors with experience in the technologies and frameworks relevant to your project. 

Review the company’s portfolio and case studies to get a sense of their past work and the types of projects they have experience with. Glassdoor, Trustpilot, LinkedIn, GoodFirms or Clutch are some platforms to do this. Consider the company’s culture and values. You can also request references and speak with past clients to get an idea of the company’s track record and how well they handle challenges like yours. 

What should I consider when choosing a front-end development company?

There are several factors to consider when choosing a front-end development company. Technical skills and experience are crucial, as the company will be responsible for building and implementing the UI of your website or application. Check if the company has experience with the technologies and frameworks you need for your project.

Effective communication and collaboration are also essential. Verify that the vendor has a track record of working well with clients and can effectively communicate and collaborate with your team. Cultural fit is also important, as you will be working closely with the vendor for the duration of the project. It’s a good idea to have a face-to-face or video call meeting to get a sense of the company’s culture and see if it aligns with your own.

Finally, consider the company’s pricing and business model. Make sure the company is transparent about its rates and fees and that they align with your budget. Also, consider whether the company offers flexible pricing options or packages that may be more suitable for your needs.

Once you’ve narrowed down your options, it’s a good idea to request proposals from a few different vendors. This will allow you to compare and contrast their approaches and determine the best fit for your project. 

Bringing it all together

In summary, outsourcing front-end development services can be an easy, cost-effective, and efficient way to access specialized skills and expertise. By carefully considering factors such as technical skills, communication and collaboration abilities, cultural fit, pricing, and business model, you can find the right vendor to meet your needs and achieve success with your project.

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