You’ve done a lot of hard work to get your business to where it is now.
Time control. Systems control. Financial control. Marketing control. Sales control. Team control.
Your business is running well, your mindset is well considered, and your overall structure and foundation are solid.
What comes next?
Now is when you need to ask yourself if it’s time to scale your business.
Before you can seriously consider scaling up, you need to cast your mind right back to the beginning.
When you first started your business, you had a vision. You could clearly imagine where you wanted to end up. Are you there yet?
Every business owner has a different idea of what ultimate success looks like to them. What’s your vision? $5 million a year business with 30 employees? 5 employees and a turnover of $1 million?
It doesn’t matter what your personal business goal is. In order to scale, you have to create a bigger vision and make sure you have a clear plan in mind.
It can be hard to consciously add elements of chaos back into your controlled business. Sometimes this is what scaling can create.
Scaling is like a pot of boiling water. If you leave the lid on, turn up the heat, and walk away; you’re going to end up with a mess on your hands. But if you turn up the heat and take the lid off when it reaches a boil, you can keep it going for much longer without disaster. And if you keep an eye on it, you always have the option to turn it down to a simmer if you need to step away for a bit.
Let’s say you have a goal of 20 percent growth. Does that mean adding a team member? How does that look financially? Is that growth enough to pay another wage and generate further profit?
Start with an organizational chart. You have a team, and your team has defined roles. In order for you to grow, you need to acquire more business. This means you first need to grow your marketing strategy.
You really need to have your team fully on board with your plans to scale.
Growing your business means that the whole team needs to work harder for a while. Until a critical point when you need to hire a new team member. Your previous control of systems and recruitment should make this step easy.
Back to the pot analogy. You’re looking at growing to a level just before it boils over, then taking off the lid and hiring a new member. Sure, it invites a level of chaos, but if you are aware of what’s going on then its controlled chaos.
You reach the next level, then repeat the process.
At this point, you should know exactly what’s next because of the previous level of control you’ve worked for.
There’s a lot to think about. It’s not just about getting more clients and adding to your team. Do you need a new space? How does that look financially?
Businesses don’t always have the luxury of growing with a level of control. Some industries are fickle and rely on a level of chaos just to function. Some grow too fast and stay in chaos because control was never really achieved. This isn’t always a bad thing but does make it more difficult to plan for growth.
Control is a comfortable place to be. Gaining control is an achievement. Staying in control and becoming complacent is business death. Risk leads to reward.
Scaling needs a clear vision and an idea of an end point. What’s your real long-term goal? What do you want when you reach the limits of your vision for your business? When you get to the point your business doesn’t need your attention to thrive anymore?
You might be happy with the passive income and decide to let it do its thing while you move on to the next challenge. You might think about selling up and taking off on a 6-month cruise around the Caribbean.
Your vision for your business doesn’t stop with monetary goals or growth. You need to consider your endpoint when looking at scaling. What does the business look like when it is finished!
Overall, any level of business growth will always invite a small level of chaos, but it should be manageable. Scale should be conscious, measured, and planned. But not always comfortable. So should the rest of your vision.
Some businesses grow naturally. Some grow and fail. Some grow and thrive. Which one is yours going to be?
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