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SCALING UP
IN ASSOCIATION WITH:
A GROWING SENSE OF AMBITION
Select Medical has embarked on a high-speed journey which has growth as its destination.
It is one of an increasing number of Lancashire businesses working to scaleup and in 12 months a “clearly defined strategy” delivered it 30 per cent growth in staff numbers and revenues.
Although the concept isn’t new, scaleup businesses have become something of a hot topic in recent years. As Lancashire and the UK look to work their way out of the Covid-19 pandemic there is even more focus on them and their role in the economy.
across the county to support them as they look to reach the next stage in their development.
He says: “Put simply, scaleup is a distinct phase of company growth. It’s a company that has achieved a lot, had some impressive success and is ready to take it to the next level.
“Having grown to a certain size, a scaleup is ready to use its proven success to scale and grow the company significantly.
“The scaleup phase is typically the quickest and most significant stage of growth, and one that can bring the most challenges.”
Select Medical is a Blackburn-based manufacturer specialising in support surfaces for pressure care and ulcer prevention for the healthcare sector.
Amin Kamaluddin, strategy consultant at the business, says that in its bid to scaleup it made significant investment in its people, process and IT systems.
It has also invested in a “satellite hub” in the midlands to support customers nationally.
Amin Kamaluddin
By definition, scaleups are enterprises with an average annualised growth in employees or turnover that is greater than 20 per cent a year, over a three-year period.
Amin Vepari, business finance and scaleup lead at Lancashire County Council, works with businesses
Impressive moves, but how did the business and its management know it was ready to scale? Amin says: “Since our inception in 2001, we have been on an incredible journey making great progress and achieving key goals.
“We arrived at a point where we felt we had achieved most of our aspirational targets and it was the right time to reflect and set new 10-year goals to ensure we continued to strive for growth.
Leon Calverley
Amin says having a clear strategy and leadership is vital for businesses looking to achieve rapid growth. Knowing what areas to focus on, how to assign and utilise resources, where are the gaps and what are the threats are all captured in a comprehensive strategy.
There are undoubtedly lessons to be learnt along the way “as there is no such thing as failure as long as you learn from it”, he explains. “Often the fear of failure can paralyse and hold people back from making a move.
“Focus has been placed on developing an innovative range of products and building the appropriate infrastructure: teams, processes and systems. All part of a clear strategy. With a firm foundation in place, we believe we are ready to scaleup.”
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