I speak a lot about what is needed for business growth. I share that growth is different from scale. Growth is simply when your business has more of something: inventory, team, business, etc… However, you can have more and be experiencing pain, struggle, loss of revenue, bad reputation, etc… That’s usually growing pains.
Scale typically allows for going from incremental growth to exponential growth WITH EXCELLENCE. Let’s talk about 4 things to implement before your business is scale ready. Yes, ALL four things. lol This list assumes that your business has a clear vision and mission that aligns with its growth objectives, a strong brand identity and reputation in the marketplace, and a solid understanding of its target market and how to reach them effectively.
Processes & Systems. The business has established reliable and scalable systems and processes to support growth. You have established a client journey for your offer(s) and you have documented each step of the journey, as well as how each step connects to the next step. Your internal processes are on point so that you know your numbers and KPIs for each department/area of your business
Proven Business Model. The business has a proven business model and concept that generates consistent revenue. This can look like established lead generation, sales processes, partnerships, and collaborations that lead to your ability to revenue for stability. In other words, you have a fire and now you’re ready to add fuel to make a bigger fire.
Capacity To Serve. The business has a focus on customer satisfaction and retention to support long-term growth with the necessary tech and a strong team in place that can handle the complexities and weight of scaling. This can even include a plan for future tech, in addition to how the business will retain and attract top talent to continuously support growing capacity.
Financial Ability. YOU have a clear understanding of the financial implications of scaling and have a plan to sustain the business, as well as invest in growth while managing risks. Then be willing to work the plan to make significant investments in the innovation, people, processes, and technology needed to support the scale. Calculate and be ready for possible short-term and long-term sacrifices and access to any capital to fund as necessary.
If you need support with taking your business from growth to scale to reach your first 6 figures in revenue, let’s talk. It’s FREE. ShaCannon.info/talk