6 September 2022

Hey Luv,

What exactly is business scaling?

Consider what it means to start and grow a business before developing a working definition of scaling a business. You started your business to meet a market need, make a profit, and most likely fulfil a dream. To remain profitable and expand your market reach, you must expand your business.

Many people associate business expansion with “hockey stick growth,” in which there is an initial period of linear growth followed by a sharp increase in revenue once the business reaches an inflection point.

As appealing as rapid growth can be, entrepreneurs frequently lose sight of what is important in order to achieve it quickly. The problem with tunnel vision is that it minimizes the significance of the period of linear growth preceding the rising handle of the hockey stick – that is, the blade. The blade typically lasts three to four years and is where the majority of the work is done.

Scaling a business entails utilizing the “blade period” to implement systems and procedures that will prepare you for long-term, profitable growth. During the blade period, you will establish your core values, company culture, and brand identity.

Here are some tips for scaling a business:

Scaling a business refers to growth strategies that align with your original business vision while managing the impact of growth on your company. Implementing the following tips for scaling a business creates a dependable scaling strategy.

1. KNOW YOUR PURPOSE
Customer loyalty is essential for business growth. What is the most effective way to build customer loyalty?
Prioritize employee retention so that they can spread the word and pass on their enthusiasm for your company to those they serve. Employees are loyal to companies whose mission and values align with their own, as this gives them a sense that their careers have a higher purpose.

Knowing your purpose and successfully communicating it to your team is the best way to turn them into raving fans of your company and drive organic growth.

2. CREATE A BUSINESS PLAN

Most business owners have a business plan, but have you considered creating a business map?
Business maps are an efficient and comprehensive method of growing a company and meeting its objectives. Making a business map forces you to ask fundamental questions like, “What business are you really in?” What motivated you to start this business in the first place?

Business maps encourage and challenge you to look back, define your reason for starting this business, and look forward: What’s next for your company, and where do you want it to go?

3. IMPROVE YOUR PRODUCT OR SERVICE
Many business owners are so focused on rapid growth that they overlook the importance of ensuring the quality of their product or service. They frequently believe that they will simply fix it once they have more users or distribution. However, if you don’t work out the kinks and eliminate the errors now, they will only get worse as your business grows.

This is why learning how to scale a business before attempting to expand will save you time and money in the long run.

4. DESIGN CONSCIOUS PROCESSES AND OPERATIONS
Scaling a business entails more than just expanding upward and outward; it also entails ensuring that your internal processes and operations run smoothly. The last thing you want is to start losing customers you’ve worked so hard to gain because an element of your infrastructure is failing.

While perfecting processes, keep in mind that some of the systems and processes that work in the early stages of your company will not work on a large scale. This is where adaptability and flexibility come into play, as processes may need to be tweaked as your company grows.

5. LEARN WHEN AND HOW TO DELEGATE
If you’ve built a strong team, you should be able to delegate many important tasks to them so you can work “on” the business rather than “in” it. However, as a business owner, you want to feel involved in every aspect of your company and may find it difficult to let go in certain areas.

To truly understand how to scale a business, you must delegate tasks to your team members. What are you doing that another person could do? Don’t exchange your time for money. Your company must be able to run and thrive even when you are not present.

Check out our “Help Her Scale” product range.

To Your Success,

Jeanetta Cardine

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