We all know how tough it can be to start and build a new business. More often than not, it feels like treading water, just keeping your head above water and profits can be thin.
But what about when we start to hit the fertile ground and the business has stability and we start to see real growth, momentum, and the profit margins do in fact begin to increase? Heck, you might even be paying yourself a wage!
What do we do next? How do we take our business to the next level? Business owners should make the most of their achievement and to set the foundations for continued growth and success. This can be achieved by scaling your business.
Sounds scary, but it’s true and totally doable! Here are my top five tips to identify when you’re ready to scale:
Just like when building a house; the taller you go, the deeper the foundations need to be. If you want to build and scale a business, it’s vital to have solid foundations and certain structures in place. Many business owners approach me saying that their business is booming but they’re struggling to keep up with the demands of their business as it has grown too quickly and in turn created a monster that is uncontrollable.
By establishing fundamental areas of business operations, forward planning becomes clearer for the whole team and growth in the business becomes a positive change for the business owner instead of being to their detriment.
Suzzanne Laidlaw, business reformer and entrepreneurs’ mentor