All new businesses have a hunger for record sales and fast growth. After all, they’re in it to make money. However, there is a right way to do this and if you don’t, your success could be short-lived.
When your business is growing you are adding additional resources at the same rate you’re adding revenue. This model can be difficult to sustain due to the budgetary strains and exactly why it won’t be the best approach for many start-ups.
Scaling your business considers an alternative approach. Scaling is about adding revenue at a rapid rate while incrementally adding resources. The idea is a structured business that is not dependent on any particular individual and has a solid strategy of growth to maintain long-term success.
Key things to consider:
Simplified business model: Offering a limited, but consistent, set of products or services that you can deliver effectively every time builds customer loyalty from the onset. It eliminates the risk of not being able to deliver, which leads to failure for many business owners.
Rely on the process not the people: Although every good business needs good people, no successful business should rely on a single person. The goal should be to develop systematic processes that can ensure you deliver your products and services no matter who shows up that day.
Focus on the big picture: It’s so easy to get caught up in processes, systems and campaigns that you get lost in the details. Always make it a point to revisit your goals often and make it a point to look at things from an outsider and open-minded perspective.
Seek automation: Explore those parts of your business that you can replicate quickly and inexpensively. Figure out how to supply your customer faster and cheaper. If you figure out how to service a thousand customers as easily as you can service one, you have a scalable sustainable business model.
If you want to stay alive in business you have to stay ahead of the game. You want to experience your business the way your customers do while executing a strategy that allows for a balance of revenue, resources, people and expenses. Focus on how to scale your business and reach success through year over year growth.
If you liked this blog post, you’ll LOVE this Meaty Free Guide I just published on how to stop stressing out about getting in front of your ideal customer. It’s titled “Finding Your Dream Customer” and you can grab it for free here.
All the best,