Transcripts
1. Introduction: Hey everybody, Tiffany here, the owner of process prowess. I am a business strategists
productivity coach, and I specialize in
executive functioning. Welcome to break down,
to break through, we're going to talk about
the difference between scaling your business and
growing your business. Mindset, shifts and changes that need to happen so that you
could do one or the other, whichever one feels
better for you. And we're also going to talk
about some tips and tricks. So you can start today to start making some changes so that you can scale your growth. Because I helped fearsome
peerless female entrepreneurs create more fun, profitable, dynamic, and
sustainable businesses. Have fun and enjoy.
2. Growing Vs Scaling: Hey guys, welcome to break
down, to break through. And today we're going to talk about growing versus scaling. I want to start out by saying, no matter if you're just
starting your business, if you've been in
business a couple of years or if you have been in business
for quite some time and seeing a lot of success, scaling can be important for anyone in any step
of your business. Now as an entrepreneur, you probably started off
in one or two buckets. Either one, you got everything that you thought
that you needed from a system process team
methodology, strategy standpoint. And then you said,
Hey, world, I'm here, or you kinda went with the
flow and built as you went. So things might be
thrown together. You might have duck tape,
some systems together. You might even be finding yourself in a
position where you're replicating activities
and wasting some time to be honest, doing things in multiple places, then you don't need to write. Scaling is all about
taking a step back and determining what is it
that you need to streamline, what is it that you
need to completely scrap and what is it
that you can delegate? The whole purpose of scaling is actually the
foundation for growth. And in order to
actually experienced sustainable and fun
growth in your business, you do need to make sure
that you have those rights, strategies, policies,
processes, procedures, systems, you name it in place, and essentially find yourself doing more with what you have. So you can step back in your business and you can
do the things that you actually enjoy doing because
your business is working for you and you're not
working for your business. So again, we're going
to talk today about the difference between
growth and scaling. And most people do
confuse the two. And even though
they have a same, the same general meaning, expanding your revenue, right? Expanding your profit. There are actually
two different things. Now, when your
business is growing, you're increasing revenue, you're increasing
your market share. You're increasing the
people on your team, you're increasing the
clients that come in. But meanwhile, your expenses tend to grow at the same rate. Sometimes they can't even more. So that's the external reality. Now the internal reality again
is that the stress levels, the drama of your
day-to-day operations with your team are also
through the roof, right? Because you're growing,
you're getting bigger, you're expanding, you're constantly adding
on top of things. And this can lead to ultimately
less time spent with your family and less time
doing things that really matter either
to you personally, professionally, or in
your business, right? So a lot of the time growing
a business can be hard. Nobody said it was
gonna be easy. But scaling is a whole
different story, right? Not to say that
it's not as hard, but it actually is going to
allow you to build more of a sustainable foundation so that you can grow on top of it. Now when you're scaling, revenue is growing,
but it's growing at a much faster rate
than your expenses. And that gives you the
cash and the resources to help you fund and support
your increased business. You're going to have
the opportunity to hire the right team, invest in the right
tools and the resources, and you're not gonna
be slapping things together like you might
have been up to this point. You're gonna be able to afford more than
you could before. You're going to reduce
that operational drama. And when you're scaling, you can actually do it
while still having a life. So those are the main
differences between the two. And we're going to dig
a little bit deeper on growth and then we're
going to talk a little bit more about scale. And then we'll discuss
which one might be better for you because every
business is different. So a little bit more
on growth, right? Nearly every business owner is going to want to
see the revenue grow. On the surface, growth
indicates that you've built a successful company and
that feels amazing, right? However, growing for
the sake of growing, is a super small game and it's not gonna be a sustainable
business model. And in order to get bigger, you cannot think small. So if the only way
that you can make more money is to sell and deliver more of your
products or services. And you're eventually going to hit some type of tipping point. You're going to hit
your ceiling and you're not going
to know how to get past that mark that you've
created for yourself. You're essentially going to max out the amount of
business that you can accept Given your
available resources, there's going to be eventually some type of tipping points, some type of imbalance. When this happens,
you're going to find yourself in a position
of having two choices. You can stay a small
business and you can work insanely crazy hours and potentially sacrificing
your mental health, your profits, the quality of
service that you deliver, or having to find your self in a position where you're
turning customers away. Or you might have to adjust your pricing models or consider
hiring more people and investing and other resources
that you continue to grow and build on to those resources as your
revenue is growing. So that's what I mean.
By adding resources. Your costs are going to go
up and your profits are going to go down at
least temporarily until you ramp up
the sales and begin adding revenue to cover
those extra costs. Right? Now, sometimes a business owners only motivation is to achieve a certain level
of income so that they and their team members
can live comfortable lives. And this is perfectly acceptable if you're
comfortable repeating the cycle of adding resources at the pace with your growth,
totally up to you. But professional services
and organizations where the primary resource or primary source of revenue
comes from selling, labor, work, service providers, coaching, going out and performing services
tasks for people. There are common
example of this. If they don't find a way
to scale that growth, the only way that
they can is to take on more clients so that
the cycle continues. But you need to also continue
to add to your team. So you're essentially
breaking even. Now. Most growth minded
entrepreneurs, they have bigger ambitions. They want to build a business
that's going to grow in value and then they
can eventually, I don't know, cash
out and pursue on their, pursue their goals. Some entrepreneurs, they need
to understand growth and scaling at adopt
growth strategies that are going to result in a
successfully scaled business. It's going to improve their
ability to earn a profit and command a good price
when they're ready to pursue an exit. Now, let's talk a little bit
more about scaling though. Now, scaling a business means that you're growing
your revenues and increasing your
profit margins at the same time by finding
ways to be more efficient, which is one of my
favorite words. It's essentially doing
more with what you have. It's working
smarter, not harder. And this empowers you to
continue adding customers delivering the same
level of services without seeing a
lot of undue costs. But like most things that are worth pursuing
scaling of business, it's not easy either. The methods of doing this, they're going to really vary
from company to company. And you're going to
experience some up and downs regardless of which
direction you're doing. But if you know
what you're doing, this is what, this is
the growth curve, right? That has achieved the
scale it might look like in comparison to
one that is not right. As you earn more revenue, your costs are
still gonna go up, but at a slower
pace because you're finding the economies of a sale, this leads to a higher profit
margin because of course, there's many times
that when you make an investment that's going to affect your profit
margins for awhile, it's gonna be normal
and expected, right? So again, scaling is more
about taking what you have. Say it'd be a system
that you have that has a really robust platform and foundation and it
allows you to do multiple things under
the same umbrella. Right now if your business
is kinda pieced together, you might be again, doing the same thing in
different locations, or you're going here for
one piece of information. One thing for here,
you're having to connect all of the things that you're putting yourself
in a position where your business is
more streamlined, but it's still kinda pieced together and that doesn't
feel good, right? So let's talk a little bit between the difference
of what is better. Because like I said, all
businesses are different. So growing versus scaling, what is more desirable to you? Well, by now, you
probably know what, that depends on your
long-term goals. If you started your company
because you love what you do, you enjoy the people
you work with, and you just want to
make a decent living. Growth without scale
is totally fine. If you're wanting
to put yourself in a position where you do have
to show up every single day. You do get joy out of that. Totally grow without scaling. But there are risks to business. So if you decide to
retire or you get ill, or you lose a big customer, or things happen in the market, then your entire
company can be at risk. So just keep that in mind. But if you are in a
position where you do want to build a
long-term, ongoing, thriving organization
that's going to provide value to its customers, employ a lot of people
and change lives. Change your life
enough that you can actually take a step away, take some time off,
completely retire, sell your business,
whatever you wanna do, you need to see the benefit in actually
scaling your business. So if you have a
business like this, then you're going
to be able to grow, it's going to be sustainable, it's going to be cost-effective, which is bottom line, is what we all
care about outside of the services and the
clients that we're serving. You're going to have
those ups and downs, but having scaled your business, it's going to allow you to kinda whether those inevitable. And it's going to allow you the opportunity to
continue to give back, give back, give back, be innovative, be creative. Have more fun on your
business and spent a whole lot less time on the backend trying to just
make things work for you. So that is it on
growth and scale. I would love to know what it is that you got as far
as a takeaway in this kind of which
direction that you think you're
going share with me your long-term goals in the comments and if you
have any questions, definitely feel free
to reach out to me. As I mentioned, growing and scaling are
two different things, but it really depends
on who you are, where it is that you want to go. What I do with my clients is help them take that step back, peel back the layers breakdown so that they can find
the breakthroughs, find the opportunities
and what they can scrap, what they can
scream, streamline, what they can
delegate out so that they can spend more
time working on the things that they want to do versus the things that they
feel like they have to do. The things that they
have been doing that are taking
way too much time. I should take a whole lot
less time so that they can actually put themselves out there more, serve more people, increase their revenue and increase their
efficiency to provide themselves with a business
that works for them instead of them working
for their business. So this is very personalized, this is very streamlined. This again, is what
I do for my clients. I will give you a road map, a strategy, a game plan, whatever it is that
you want to call it an instruction manual for
you and your business. And we're going to
strip back the layers. Take a look at what it
is that you need to be able to do in order to put yourself in a
position that you, so that you can build a sustainable foundation
and experience that growth.
3. High Level - Action Taking: Hey guys, welcome to day two of breakdown to break
through today, we are going to talk at a high
level about taking action. So we've already talked
about the difference between growing and
scaling your business. And hopefully by now based on whatever your short and
long-term goals are, you have an idea of what
it is that you want to do, either grow or scale
your business. But today we are going to start talking about again,
at a high level, what it is that you
need to do in order to start putting this into action. As we continue to progress, we're going to talk about
some real-time quick wins, step-by-step things
that you can do within your business to help
streamline things, scrap what doesn't
work or delegate the stuff that you don't
need to be bothered doing. So first, I want
to start talking about how in order
to take action, you have to stop working. Now, what do I mean by that? Well, it's a physical
fact that when you are extremely focused
on your thinking, then you're avail, your
ability to be creative actually shrinks because all of your energy is going
in one direction. And unique creativity,
if you want to boost your productivity and figure out ways to do things
bigger, better and faster. Now, creativity comes when
your brain is relaxed, right? So that is when you
can make connections between ideas that you maybe
didn't think of before. And that's why so
many people get inspiration in the shower. I know I'm one of them. Now, during this time, you're not really thinking
about anything specific. So brilliants has room
to strike, right? And that's why it's
important to stop working. Give yourself some
time to relax, let your mind wander
and you're gonna be surprised at the insights and solutions that come to life. But the key to making
that happen is to make sure that you can truly
find a way to do nothing. Now, make an appointment
for yourself, a do nothing appointment
that never gets bumped. Make this a routine habit whether you
want to do a weekly, whatever day of the
week that you want to do at whatever time
feels good to you. If you don't set time aside to do absolutely nothing
with yourself, then you're going
to end up being in reactive mode all the time. And it's going to never feel like you're actually
getting stuff done, right? It's actually just really
slowing down your growth. So lesson number one here, in order to get ahead, you need to learn how to
be able to do nothing. So now we've done nothing right? Now, what are we going to
do during this time that we're doing nothing
and we're thinking of all these creative ideas. Well, you want to take a
step back in your business. You really want to retreat
because complacency in doubt or two of your
biggest challenges as a business owner. And if you're not constantly growing personally
and professionally, you're actually falling behind. Guaranteed. Your competitors
are not going to be taking a back seat on expanding themselves and
their market share. And if you're
hesitating, I'm making decisions for yourself because you're not quite sure of the next step or how
to accomplish it, then you're going to end up really in the same boat, right? And the status quo
is definitely going to create a drag
for your business. And again, we don't want to
slow it down because what we're really looking for
is that sustainability, that growth and profitability. So being able to
take a step back and really looking at what
is it that I need to do? Where are my opportunities? Where do I want to go? How did I get to where I
am right now is really going to be beneficial to you during that do nothing time. So it's really vital
again to retreat and just get that mindset reset
so that you can regroup. That's going to
allow you to make decisions a whole heck of a lot faster than are
going to help you really move forward
in your business. Now to be at the top
of your game and have the ability to really
collapse timelines. You have to constantly look for ways to level
up your thinking. That also means learning from people who think differently than you and have a different
set of experiences, right? So there's nothing wrong
with going in and taking a further look at
that competition because that kinda learning, it can really improve your
decision-making process because you can see new
angles that you maybe just couldn't really even see
before because you were so stuck in the weeds and you have those business blinders on. So it makes sure that
you're dedicating some time to building your network inside and
outside your industry as well. Explore with those contacts new ways of getting
better at business. Ask them what they do in
challenging situations and consider how you can actually apply them
to your own business, make it your own, and help you be more productive. Work with coaches,
joined masterclasses, or even at the very least, educate yourself in
a brand new area. Whenever you have
the opportunity to, even if that area is
nowhere near what you do, the things that you learn about a new type topic might actually sparked something
new in your business, right? As your brain puts together these creative solutions
during your do nothing time, you can actually really
come up with things that you might not have
ever thought of before. So those are the things
that are going to improve your impact and help
you scale faster, right? Finding different
ways to do things, finding different things to do. It's going to help you
with your profitability and your growth
right along with it. Now. The last thing that
I want to talk about here is
breaking your system. This is my favorite break. Those patterns, break
the way that you think, break the way that
they're doing things. Think of different ways that
you could do the same thing. Only be more efficient,
more beneficial, more impactful, more
cost-effective for your business. You constantly are hearing
that if you want to scale, then you have to get
systems, systems and automation in place. That's super true. But if you really do want
to collapse timelines, you have to figure
out how to do it better and how to do it faster. And that means breaking the
systems that you set up, stripping it down,
and finding ways to make them even more
effective for you. So when you have
this big vision, the only way that you're gonna be able to make that vision come to life is to really
enlist others to help you. And if you can do
it all on your own, on your own, then maybe your
vision isn't big enough. But obviously right now for now you're going
to have to think, what is it that you can handle, what can you maintain? But you really
want to think big, and that's the only way that
you're gonna be able to make the impact that you
are really meant to make. All you really do have to do
to get started just to be clear on what your end goal is and then allow other people, whether they're members of your team, family
members, friends, people that are also in the
industry, in the market, let them come in
and contribute to it from all different
ways, right? You don't have to be. You're by yourself just
because you're a solopreneur. Now, it's only with these different
perspectives that you're really going to collapse your timelines in a massive way and figure out the
systems are tweaks that your current systems can help you actually
go about doing it. So be sure to get everybody that you can involved
in this process. They're going to see
things that you've done. For example, they're
going to know where your needlessly
losing time. It's easy to take a step back. As a business owner when
you're collaborating with other people to kinda see where those bottlenecks
are in your Workday. And then you can
get some time to brainstorm some solutions to fix these issues and then in
turn become more productive. Now, new perspectives bring new possibilities and that's an added bonus if
your team or who you're collaborating with is helping you generate
solutions and they're going to have a lot more buy-in when it comes to
making that change. They're going to
have more support. You're going to have
more buy-in to. And that means
you're gonna be able to get a whole heck of a lot more done in a shorter
period of time. So you're essentially more
productive from the get-go. So to wrap things
up here for today, seemingly counterproductive
practices can actually be the gas to your business that you need to rev up
and keep going. So once you take that step back and start
looking at your business and the tasks that you
personally perform within it through
a different lens, you're going to start finding
ways to improve efficiency by enlisting other people to help you with that
fresh set of eyes. You're going to be able
to do it even faster, right? Before you know it. You're gonna be making
a massive impact on the world because you are the trifecta for productivity, scalability,
and profitability. It's all gonna be yours and your business is going
to be running like a well oiled machine
until you break it again and make it run
even bigger and better. So I hope this was
helpful for you today. Again, take a timeout, schedule, some time for
yourself to do nothing. Take a step back, break your systems, look at
your competitors in Titin, incorporate other
people's ideas, thoughts and
opinions, lay it all out them four out
there for them. See how they can contribute
to identifying any issues, anything that's broken,
anything that's holding you back that
you might not realize. And look to them,
look within yourself, look at your competitors for different ways to come up with solutions for these
problems, processes, issues, whatever it is that you're
essentially spending more time on than
you really need to, so that you can focus on being more productive, more creative, more skilled in your craft, and you can take
on more clients.
4. Finding Inefficiencies: All right guys,
Today we are going to talk about finding
efficiencies. And of course, there's many ways to find efficiencies
in your business. And earlier, I mentioned
taking a step back, looking at the competition, looking internally at your
systems and processes. But there's plenty of other
things that you can do. The first thing that
you can do is reduce the cost of your
product or service. These are just going to
be high level examples are gonna be different
for everybody's business because everybody's business is different where you are in
your businesses different. But we're going to start
with talking about reducing those costs
of your product. Now, in addition to reducing
the cost of your materials, you could possibly even find
cheaper resources for labor, negotiate better shipping
rates and things like that. So if you are a
product-based business, that's something
that you can look into as far as
reducing those costs. I know it sounds like a
no-brainer and obvious, but it might've been awhile since you've taken a step back. And that's the theme of what
we're talking about, is, how are your business
efficiencies right now compared to
how they were before? Did you just jump on the
first supplier and you haven't really talked
about renegotiating. You didn't think
it was possible to renegotiate some of those costs. And now that you're
taking a step back and really looking at everything on your business kinda laid out in front of you. That's something that you
can definitely revisit. Now, you can also
read or you can invest in the value of
your products or services. Now, you can reduce costs, but on the flip side of that, you can also invest in
making your products even better or your
services even better. If you're service-based business
that is solely based on who you are and what it is that you do or help
your clients with, then this might not be relevant. So if you're with me,
but perhaps you can add more features,
more capabilities. You can increase your
level of service. You can train any staff that you have to make sure that they're being
more efficient. And some of these
improvements say that you're a coach and you offer
one-on-one services. Well, in those
one-on-one services, you can always add
some products or programs to already
put in place. Because then that's going to
allow you to charge more. And then ultimately that's going to boost your bottom line. The whole theme
here is doing more with what you
already have, right? So try and take a look at that big picture of
the offerings that you currently have for your
audience or your client base. And see how you can kind of package them up and make
them more valuable to them. Now, this one is
one of my favorite, building strong and efficient internal processes
and procedures. Now, nearly every area, if your business can benefit from establishing
those repeatable, repeatable and predictable
processes and procedures. For instance, if you're with your bookkeeping or
finance and accounting, if you're making
sure that you're building your customers
automatically, then that can maybe
even imposing some penalties for late payments that could ultimately
end up saving you money. You're not having to spend
an entire day sitting, going around chasing
after any invoices. If you have that automated, then that's something
that is going to be working for you
behind the scenes. Creating those penalties. I know it sounds harsh, but
you know what it's like to continue to chase a
client for a payment, having something like that. You can always have that
working in the backend for you. You can also create an expense reimbursement
policy instead of leaving all your
spending decisions to your team and
things like that. If they purchase something
that as long as they follow the guidelines and that's
not something you have to be consulted with
every single time. Obviously, you're
going to want to take a look at month end,
quarter end, year end. However, you manage your
books and make sure that they are following,
following the policy. But that way you can
empower and enable your, your team if you have one
to go about doing that, that process can become
more efficient as well. These are just high level
examples just to kinda give you an idea of what it means to look at your business
for any inefficiencies and the possibility of
making them more efficient. That's the whole concept
and the theme here again, everybody's business
is different. So how this translates
to you might be significantly different
or it might just flip a switch and that light
bulb moment will come on. Now, you can also invest in productivity
enhancing technologies. There's a lot of free
platforms out there. I know I said
invest, but some of them in order to make
them the robust, smooth running machine
that you need, you might need to
invest in 1020, $30 a month for a membership. But having the right
tools can really significantly improve
your productivity. For example, with the
right technology, you can track your customers throughout their life-cycle
with your company, right? And we know that what we
measure has to be tracked. And if you're tracking
all of those things, then you understand
where's the fall off in that in that customer workflow
or that buying life cycle, where can you pick them back up? How can you create
those efficiencies within your process to
make sure that you're turning a lurker into an actual customer or a customer into a repeat customer right? Now, besides making
your marketing and sales efforts more
effective and efficient. Also, some investments
like this, they can allow you
to flow through your customer service team
that allows them also to understand that present
a more unified presence for your customers by improving your reputation
throughout that as well. So any knowledge that you get in a team when it
comes to looking for these inefficiencies
and building more efficient processes
for your business. You definitely want to make
sure that you communicate, get that feedback
back from your team. If you're a solopreneur, talk to a friend,
a family member, a fellow entrepreneur and kind of bounce some
ideas off of them, or hire a coach. And a coach will really help you be able to
take a look back and decipher what it
is that needs to be impacted and how you personally
can go about doing that. Now, you also want to
allow for specialization. If you have within
your company either systems are people that are intended to be
jack of all trades. It's not very cost-effective because sometimes these types of processes are going to lead to somewhat costly errors and
possibly even burnout. If you do hire
externally outside, whether they're a team
member or whether you're hiring someone to do your social media or something like that. Consider hiring someone that is a specialist that can actually lighten the load and improve the efficiency for you, right? If you can't hire a full-time actual specialists
within your business, definitely outsource some
work freelancers have VA, That way you're gonna get
the expertise that you need at a lower cost and
you're not having to take the time to sit
back and learn something new and figure it out
and delay any progress, success, deficiency,
building or progress that it is that you're
looking for because you're spending your time on a learning curve
with something. Sometimes it's just better
to flip a couple of $100, have someone else
do it so that you can get those immediate results. Now, like I said, these are just a few ideas when you're serious
about exploring the opportunities
that you have for growth versus scaling
within your business. Make sure that you're
developing some type of budget. We talked about growth and
scale and grow your revenue, but your expenses balance
and they both increase. And the whole process within scaling is to make sure that
your revenue is increasing. But your, your cash, your external cash
flow going out of your business is really
kept at a bare minimum. If you kinda take this
exercise and take a step back and look at the efficiencies
within your business, the inefficiencies and identify solutions for you
to approach these. This is actually going
to help you be able to spot quickly and remedy any problem or
opportunity that you have to become more efficient
within your business. I hope this was helpful and
I'll see you on the next one.
5. Breaking it down: Hey guys. So today is the day where it starts
getting real good. Today's the day that we're
gonna break it down. And I'm just going to
get right into it. So the first thing
that you want to do is break down on vision. We talked about
taking a step back. We talked about looking about at the things that are
and are not working. Now, we're going to really
look into the future and base the future
on where we are in the present and where it is
that we want to go, right? We've taken a look at the past and now it's time to sit in this space and make
sure that we are creating a business that
is more aligned with us, not just who we are
today, who we'd become, who we've grown to be, but where it is that
we want to go, right? So let's start with that vision. And I know some of
you are guilty of it. It's nothing to be ashamed of. But some of you create
your business plan, right? You said it onside the
side of your shelf, it collects dust and if
you're guilty of this now is the perfect time to dust off that business
plan and revise it. Once you've formulated
what it is that you want to do your
high level goals. The first thing is to put
that into a business plan. Now whether you send this
off to anybody or not, whether you're looking
for funding or not, it's always great for you, whether you're a solopreneur or if you have a team to
really take a step back and recreate or create for the first time what that
business plan looks like. Businesses constantly
develop and they change and because your
company is ever-changing two, so should your business plan set aside some time to
kinda clean that up, right. Reflect on the past
year, a couple of years, however long it's been
that you've been in business and think
about what kind of changes that your
business has made over the last span
of time, right. Did you add or remove products? Are you targeting a
completely different market? Right. Because you completely change your business structure. If you did mention all of
these things in the plan. And remember that
your business plan is the foundation
of your company. So it's really time, It's really important
that you spend some time taking that step back to
revisit it each year right? Now, if you do want to secure funding when it comes
to your business plan, whether you're
seeking funding from a venture capitalist or bank, you're going to need to
have a business plan. And business plans are the
foundation of a business. They obviously tell the parties that
you're seeking funding from whether or not you're worth investing in and we
all know that you are. So if you need any sort
of outside financing, you're going to need a really good business plan to secure it. So you need to make
sure that that is keeping up with your
business as well. Business plans are
also going to help you set and communicate goals. It gives you a tangible way of reviewing your business goals and it revolves
around the present, like I said, and the future. When you establish your goals and you put them in writing, you're more likely
to reach them. It's all mindset that a strong business plan is going to include these goals
and it's going to allow you to communicate them
to investors and employees and even just hold yourself
accountable as well. Having a business plan
is also going to help you improve your
viability in the market. While many businesses,
as we've talked about, are born from passion, not many are going to last without having an
effective plan. While a business
concept sound good, things are going to change once you start writing
those specifics down. And I'm not just talking
about an initial idea, I'm talking about where
you are right now, where is it you're going? And often people that
want to start a business or re-up their business that don't have a plan,
they're going to fail. And this is because they're not taking the time to take into account all of the planning
and the funds and the process and things that are needed to get something off the ground. Again, be in a new business or just a new initiative within
your existing business. We're talking about
taking what you already have and
making the most of it. Now, market research also is a large part of your business
planning process, right? So it is going to allow you to review who your
potential customers are, who your competition is
within the marketplace. And by understanding both, That's also going
to allow you to set your price points for your
products and services. And sometimes it might not make sense to roll something out and new initiative or
streamline something based on the existing competition. You want to take a look at who are you going to
be competing with? Who are you going to be
presenting your new products and services to if you are stepping into a new
market completely. Now, other times, market research to other
reason why this is so important is that
it can guide you to effective marketing
strategies that other people might
be lacking, right? To have a successful business
has gotta be viable. And a business plan is really going to help you
determine that. Another important
factor feature, what have you of
business owner or having a business plan is it helps
you to avoid failure, right? We don't want to get stuck in
that perfectionism bucket. We want to make sure that we're
taking consistent action. But too far and too often
small businesses fail, and most of the time it's due to having a lack
of a strong plan. There's many reasons, obviously why small
businesses fail, but most of those can be avoided by having a solid plan in place. And some mistakes that you can avoid by having an effective
business plan and really truly taking that
time to step back and taking a look is you might be rolling
out a product that nobody wants or needs
anymore, right? Anymore or at all. And maybe you didn't take into account the funding or
the capital that was needed in order to get something off the ground or to
continue something going. Maybe the market is oversaturated and it's time
for you to step out of that space and step into a different space that doesn't have so many players in it. Maybe you're setting
incorrect prices. Maybe they're too high. And the pushing some
potential customers away, or maybe they're too low
and you are missing out on that revenue that you
could possibly be acquiring. Again, any good business plan is really going to help you
avoid these issues right? Now while we're talking
about reducing risk. Business plans, they help reduce that risk because it's helping
you to make decisions. It's helping you to make
informed decisions based on the research that
you're actually taking the time to conduct. An any business owner
can tell you that the most important
part of their job is to make the
critical decisions. Write a business plan
is going to help factor all of that in to make sure that you're making
those right and those educated decisions just by doing that pure research
and applying it into your business from where you are today and where you
wanna go forward. Luckily, there's plenty of tools available to help you
create a business plan. A simple search can lead you to these tools like
a template there, kinda filament as you go. But the biggest thing, it doesn't have to be formal. Just make sure that
you're hitting on those key points that are necessary that you see that are provided in a business plan. Not going to spend too much time specifically on that
because we do have a lot of information to go
through and I want you to be able to take some of these ideas and
quickly implement them within your business
as soon as possible. Now, the next thing that I
want to talk about is systems. This is such a robust topic. But we're going to
start talking about your website cleanup, Right? This is obviously if
you have a website, it's always good
to at least have a landing page to direct your clients to
other ways that you have set up for them
to read to you. It helps with your
searchability and we'll talk about
stuff like that too. But in reality, when it
comes to your website, There's no better or more
cost-effective way to advertise your business
than on a website. The trick though, isn't
just to have a website, It's developing one really to ensure that it is driving
your business growth. And this is more for those that do already have a website. Taking the opportunity
to step back and look at what your
website is doing, we're going to get into the nitty-gritty when
it comes to that. If you do not have a
website and you just have a landing page or you don't
have anything at all. This is definitely
some notes that you want to take for moving
into the future, whether your business
gets to that point. Now, there's gonna be a lot of decisions that go into
updating your website. And I've broken them down into four buckets to make it
as simple as possible. And those buckets are design, marketing, usability and time. And we're talking about design. When people are
visiting your site, they see it as a reflection
of your organization. If your site looks
professional and it's loaded with tons of
useful information than those that are visiting
are going to see you more so as an authority or an
expert in your industry right? Now, on the flip side, if your website is
not designed awesome, and it is not, has no structure, no flow, it's totally out of date. They're gonna make
the same assumptions about you and your
company, right? So the website is going to, you're going to want that to
highlight your products and services and the
layout needs to be harmonious and
consistent, right? So let's talk a little bit more about what I mean by that. Now. Do you have any content
on your website that has specific dates on it,
blogposts, out-of-date content, any events that you held in the past that you never
took off or that you didn't continually do
an update those dates reflecting maybe a
program that you had that was a weekly thing and
you're no longer doing it. Take a look at those
kind of things because as your business grows, then your website needs
to mature and grow also. And it really becomes
evident that there's certain things that just
aren't working well with your business if it's not being reflected in
your website, right? There's a couple of things that you want to take a look at with that makes
sure not only is it outdated in terms of the obvious when it comes to
dates and things like that. But is your mission
statement still accurate? Is your products and services, are the prices still
reflecting correctly? All of those things
you want to make sure are staying and
growing and being maintained just as
much as you are with your business systems
processes and teams, right? So the next piece when it comes to your website
that I want to talk about is being responsive
and mobile-friendly. We're spending hours online in our smartphones every
single day, right? 234 times the amount
of time than on your laptop or computer,
what have you? But ignoring the mobile
market is very, very risky. And it's a common practice to make sure that your website, if not, if nothing else, is mobile friendly, even
over the PSD design. And you want it to be
something that can. When it comes to
mobile-friendly, any platform is going to have the PC option in the
mobile friendly option. So when I'm talking about this, it means that obviously
the different screen sizes and things like that
are gonna be different. So the program and system needs to adapt to that so
that you're making sure that your content
isn't this wide and being cut off or it's
all being jumbled. So I definitely encourage you to take a mobile first approach. I recently just updated
my website and meanwhile, I knew that it wasn't
mobile-friendly yet. So I just put a
little disclaimer at the top because like I said, when people go onto your website and they see something like that to avoid them thinking that I didn't have
my stuff together, I wanted to let them know. Yes, I'm aware of this. I'm working on this. Don't expect much when it
comes to my mobile site. So that is just
another little tidbit that I would throw in there. As you're working on
progressing towards things, just makes sure that you
put something out there. Big bold red letters call
it to their attention so that they know that you
know what you're doing. When it comes also
to your website, Let's talk a little bit
about calls to action. And many websites. I mean, I don't know how
many clients that I've talked to that started
their business, started their website
and never looked back. They never looked back
at their website. So what this means is because you're still
in that building process, you're gonna be
lacking those call to actions that are going to
convert your visitors, your users, to actual customers. And we all know that a call to action is a button or a link, something that's on
your website that drives your prospective
customers to become leads by actually completing an action somewhere
on your website, header, landing page, whatever
it looks like, right? So you want to make sure
that it is clear on every single page that
is what I recommend. I have mine in my
header that way, no matter where you navigate
through my website, you always have a
way to contact me. Make sure also that your calls to action are
interesting enough to persuade your
visitor to actually want to complete
that desired action. And we talk about a lot too, about measuring the
effectiveness of all of the efforts that
were unraveling here today. You're gonna be able to
measure the effectiveness of your entire website by making sure that you have mapping tools,
conversion tracking. You're looking at your records, you're seeing who's
on your site, where are they coming from? Where are they spending
the most time? Where's that fall off? Right now, There's so many
tools that you can look up. Free tools, ones that you can
invest in that can help you measure and see what works and what doesn't
work on your website. But again, you cannot measure
what you are not tracking. So you want to make sure, and if you have the opportunity, even down to the most
minuscule detail, you want to make sure that your website is staying
moderate and that you are in tune to what is
happening on the website, that it's up-to-date, you
have your call to actions. It is visually appealing
for your clients that it's leading them through some
type of experience. Right? Now, let's talk a little bit
more about that experience. And again, we talked about that. We want as far as content goes, that first impression
of your website, it's going to be what your customers think
of you instantly. And the overall layout is
super important, right? It's not just because, you know, people don't visit your
website just because they're looking for useful
information, right? So even if you do a
simple website redesign, that kind of allows
you to readdress how you're communicating
with your visitors. And just even, just to write a simple on topic,
more effective copy. You only have two
to four seconds to engage into
your new visitors. The new modern way that we function right now is just
to go faster and faster. So take off those
long paragraphs, get straight to the point, allow those visitors
to get the right. I'm real impression of you the second they land on your page, the content of your website, it should be considered the most important thing
because again, it helps decide, or
it helps you decide or determine how effective even having a website is, right? So if you have fresh
and unique content, it's really important to
factor in that you're encouraged people to revisit
your site more often. Now, another piece when it
comes to the website is your SEO and any updates
and things like that. So just like a website,
your digital marketing, all holistically, and SEO stands for search
engine optimization. It could probably
need to refresh, especially if you
haven't taken a look at your website since you
started your business, if you don't update
your website, then it's not going to be where you want it to be in
those search engine rankings. The search engines, they
regard website with the most recent content and the most relevant web
users. So your content. It might be awesome, it might be gold, and I'm sure that it is. But if it's the same content
that it was five years ago, then that search engine, the crawlers that work
through the systems, they're not going to think
that it says relevant anymore. So you need to make
sure that you are, take you some time
to do some type of redesign and it'll
give you a chance to rethink those keywords
that you are using. And that is going
to help you with your overall conversion
rate of your website. The way that people
search for things now is dramatically changing. And I only want to
see year-to-year. It's dramatically
changing week-to-week, day to day, month
to month, right? Especially now that we're
using our smartphones. So we wanna make sure that
we are using language that your users are actually
looking up when it comes to looking for a product or a service,
something like that. They do provide within
your business using that same language so that you're brought up in
those search engines. Again, plenty of
tools that you can use in order to
make sure that you are saying hip with the times Google keywords is a great tool. But I want to talk
about now next. As far as we kinda
talked a little bit about flow on your website. And when we're
talking about that, someone coming to
your website were truly talking about
an experience. The impression that
they have of you, the ease of navigation, clear calls to action, refresh, updated
current content. But it's also important that your site is
easy to use, right? It needs to be fast. It needs to be easy for your potential customers
to find information. And it needs to have the
least amount of friction between when a user
is deciding to take an action and then being able to complete the action, right? So your navigation should
be focused on kinda leaning those people towards this must have
experience, right? So that is it on website. And now I'm going
to talk a little bit about how you can
take a step back. And as you're re-evaluating
your visions and your goals, how you can take a step back and examine or freshen up your
marketing strategies. So we talked about how you're
just like your business, your marketing tactics, or they're constantly
developing, right? There's a new platform out there that algorithms
are changing here, the trends are changing here. There's always something new
that's popping up, right? And so it's important for
you to spend some time. It's kinda sprucing up
those strategies as you're going through this,
the scaling process, and some things that you
can do, our research, some new marketing trends, maybe even invest
in social media. Do not invest if what you're
currently posting is not converting because you're just gonna be wasting money, right? Take a look at some of
the tasks that you can automate your e-mail marketing
or even your posting. There's, there's built-in things in a lot of these
platforms that you can utilize to schedule and
post date out your content. Maybe go to a conference or a trade show or
do some networking. Revisit your brand. Really, you really want to say is what I am putting out
there into this world. Is it accurate, Is a consistent, is it aligned with who I am and where I want to go more
importantly, right? Analyze also what you've
been doing up to this point. See what's working, what's not working if you're
trying to be there on every single platform and call it four out of five are not bringing you any
leads of traffic, then you're wasting your time on those four and
you need to put all of your efforts into that one that is
working for you. So when you develop
your marketing plan, initially it chances
are that you thought about the upcoming year
and what you want it to have ready and what
you were planning on selling or what your business was going
to look like, right. And you set your
goals based on what those what you wanted to receive in terms of revenue
for your product, the prices that you thought that people
were going to pay, and you kinda took an
inventory assuming the different tools
that would help you choose your goals
or choose you're, the best strategy is for
you to reach your goals. And at that time, this was all done using the best information available when your plan was put together. But again, the theme of this is information
can change over time. And if it's been awhile since
you've completed this plan, a lot of other things
might have changed, right? In all honesty, there's never a bad time to update
your information, but I would recommend
doing it monthly. Honestly, it's a good idea even if your updates
are relatively minor, because then that
way you're not going to find yourself a
year from now being completely outdated for
the last 12 months and then having to spend
a whole nother month, two months trying to catch
up on what has changed. Many though, marketing trends, they have staying power, right? But others are going to grow outdated and they're gonna be replaced by other
techniques over time, which makes it easy to underestimate the value of the different platforms
that we're using. So my point is is that it's going to be more
of a detriment to your business if you're actually ignoring what is happening, what are the trends as opposed
to staying on top of that? We want to stay on
top of trends for some obvious reasons here. It gives you a competitive edge. Obviously, it can reveal some insights that site
your business apart. And then that way you
can really cater to your new target
audience refreshed. Well, however, this is
going to look like for you and you can do it better
than the competitors, the other competitors that
are in your niche, right? You're getting ahead,
you're staying in control and you
have that advantage to advanced and overcome
before your competitors do. It's going to help you
forecast your business, right? If you're aware of what
trends are going on, It's going to make it easier for you to set goals for
the future because you can better predict and plan
for what might lie ahead. It improves your
spending efficiency. Like I said, if your content is not converting
on social media, do not invest in ads
on social media. You want to be able to
track and measure what is, what is working so you can replicate more of
what is working. And that is when you
want to start investing, you want to make the most of your money by
spending it in areas that are going to give you
the most profit, obviously. But by the same token, you can also reduce
your spending. Because if it's not
driving conversion and you are staying on top of that and you are
taking a look at it, you know when to pull the
plug and you can save some of that money and invested in
things that are working. It's also going to push
you to be more innovative. A lot of businesses have failed
by not following trends, not changing their business
landscape than having you. I mean, this is holistic. This is not just
for your marketing, but having that awareness. It, it helps you
avoid growing stale. It helps you avoid hitting that plateau where there's
nowhere for you to go. You're continuing to spin your wheels and
you're not evolving, your business is not evolving, your strategies
are not evolving, so you're not going to
have that longevity as far as it comes to that forward trajectory and that increased success as
you go on and on. As far as marketing trends
go to just like we talked about with the website
and being kinda hip with the times and understanding
what's going on out there, who your customer is,
what they want and being able to provide
that to them. Sitting on top of
these trends and helps improve
customer satisfaction because it's going to help you understand what the needs
of your customers are, which is going to
increase sales. It's going to build
customer loyalty and ultimately it's going
to boost your bottom line, which is why most of the reason why we're
all in business, right? So a couple of things
just to stay on top of these trends guys is
know your competition. Stay on top of how your competitors
are marketing and selling their products
and services. They might be onto something
that you haven't seen yet. And if the outcome of their method, obviously
it's positive. You want to adopt
a similar strategy with your own unique twist. So this goes back to
taking that step back and looking at your
competition setup, trying to alerts google Trends. It helps you watch in search interests about
certain topics over time. And it can help you learn different tactics that can help set you apart
from any steel ones. You want to read
industry reviews. You want to look at
journals, magazines, online publications
obviously that focus on your business
needs because they're often going to be the first in the industry to publish
those new trends. You're not paying
attention to it. It's going to pass you by. And so our opportunities, like I said to you
want to network often a time local conferences, juice and meet and greets with other people within
your industry, people outside of your
industry that are servicing the same
type of customer. You might hear
some testimonials, some stories from others that followed a trend and
did have success. And like I said, that can give you the
confidence that you need to put that in place for
your own business as well. Lastly, and possibly
most important, to get customer feedback on
his customer feedback could reveal the pain points that current trends
are not access, they're not addressing, right? So you want to use this
feedback to define your own marketing
trends and you can really be an example
to other businesses. Now to the next one I want to talk about here as far as kinda breaking it down, we've talked about the website, we've talked about you're changing your
marketing strategies. Now I want to kind of break
it down into what does that look like internally for
you, for your business? You cannot, you cannot
grow unless you scale and scaling means simplifying and doing more with what you have. That comes also not just for the processes and
systems in your business, specifically directly
tied to your businesses, that comes with your
own internal processes that you have as
a business owner. I want to talk about a couple of things that come up
quite often that it is really important for
you to take that step back and understand what it is that you
need to look like, look at internally in order
to make those changes so that you do have the
opportunity to scale and then eventually
grow in your business. Now, one of those things
is your calendar. You might not realize it,
but your calendar habits can make or break your success
when it comes to productivity. And without proper
calendar management, you're not able to be focused and productive as you
should be, right? So with that in mind, I'm going to go over a
couple of ways that you can own your calendar and
make sure that it is more efficient and it's more simplified
so that you can be more efficient when it comes to showing up
for your business. Now, when it comes
to our calendars, we all have our own preferences. Some people still rely
on the paper agenda. Others make the most of a huge wall calendars,
desk calendars. And there are some people that
can't live without Online. Me for me personally, I'm a little mixture
of everything right, depending on what it is. But there's no right
or wrong calendars. As long as it keeps you
organized and productive, you're usually
going to be able to find one that feels
good for you. But it might take
a minute, right? So don't get frustrated, don't don't give
up on it and don't continue to use a process that's not going
to work for you. The posted process does
not work for anyone. Now, the problem when you're
looking for calendars, it might seem like there's
way too many options. And here you've got
one appointment jotted down at another one has automatically been
added to your calendar. So now you're confused
and you start double booking yourself and you're just all over the place, right? So in order to malate, manage your calendar,
you want to consolidate as much as you
can everything into one. That's why I said
I have multiple calendar types that I use, but it depends on what it's for. And one of it is task and the other one's meeting
more specifically. So there's no
overbooking because I can complete a task
whenever I feel like it. But this way, having
everything in one location is really going to ease
that confusion. It's going to stop
that double booking, overbooking herself
and things like that. And honestly the same goes with your entire productivity
plan, right? The less, the better. Trust me, complexity kills. When it comes to your calendar, you want to create some type of routine right before you
go to bed every night, have a clear idea on what your day is going to
look like tomorrow, and at least have some type of general understanding
about what next week, maybe next month, even next
year will look like, right? But the reason that you
want to do this is because you use your calendar to create and stick to
some type of routine. You have certain blocks of time, certain things that you do, maybe daily, weekly, monthly. And when you're trying to figure out how to spend your time, You already know in
advance what that routine looks like
and that helps you keep your
calendar organized. And it says you're not overlapping
any tasks or meanings. And it can almost guarantee
that you're more productive. Because if it's not planned, chances are we're not
gonna do it, right? So with that being said, managing how you are, not only managing your calendar
and managing your time. I'm going to go over a
couple of things that you can do as far as that, right? You can group similar
activities are in blocks. Because how many times have you been like in the middle
of working on a project and you had to stop
because you had to go to a meeting or
stop and respond to that e-mail that hinders
your productivity, right? And that's because
we get interrupted. When we get interrupted, it takes about 25 minutes
for us to kinda stop, reset and assume
the task at hand. And I don't know anyone that
blocks interruption time, especially you can't
anticipate in your calendar. So you want to kinda put everything all
within the same bucket. I personally like to do meeting after meeting, after
meeting, after meeting. Because if I'm in my zone, I'm in my flow and not interrupted by tasks
or vice versa. Tasks are not interrupted
by me having to stop and jump into a meeting so I can
kinda stay in that flow. You want to also
make sure that you are not trying to
multitask, right? If you're scheduling
and your grouping, those similar activities
together, a batching them, some people like
to call, it helps you enter that flow state
that I talked about, which is really going to end up ultimately reducing your stress. It's going to save time. It's going to keep you focused. And you're gonna
be more energetic because you're not
switching back and forth between between task to
task to task, right? So like I said, I, I schedule similar
meanings on the same day, so I remain in that flow. So I recommend having those blocks of time
for when you're meeting is scheduled
some rest time in-between there as well. Now, when it comes
to the meetings, the default is always an hour or whatever
calendar you use. It's always an hour
on your calendar. But you don't always
have to set that time aside for that much time
aside for every meeting. If you just have this quick touch-based or an
initial meet and greet, it can be a ten or
15 minute call. You get right to the point and
you don't need 60 minutes. Do that. You can do it
in ten minutes, right? If you already know the person blackout 45 minutes and then maybe 15 minutes to
rest or travel or ketchup or whatever it is
that you need to do, right? The idea is that not all meetings require
the same amount of time. So just be cognizant of that when you're
scheduling a meeting, making sure that you are scheduling the appropriate time for what the type of meeting is. While we're on the subject to of talking about
back-to-back meetings. If you're scheduling
meetings like a day, say you're Tuesdays is your Tuesday Talk day and that's when you're
doing your meetings. You don't want them to be
back to back to back to back. Like I said, make sure
that you are putting some time in there for
you to decompress, for you to take any notes
for you to use restaurant, whatever it is that
you need to do? I would say 15 to 30
minutes of buffer time in-between meetings
is probably ideal. Now, when it comes
to your calendar, also, clear the clutter. This goes with your mindset, this goes with your workspace, this goes with your calendar. And if you want to lose
complete control over calendar, then let it get full of clutter that's busting
out at the scenes. Write this. I mean, you are going to have
things for trainings, webinars, meetings that
you don't need to attend, things that other people are
putting onto your calendar. So if you have a bunch
of these standards like check-in meetings or we all say in corporate
America, right? Oh, that was a meeting that
could have been an e-mail. If you have a meeting
that could have been an e-mail that doesn't have an agenda or if it doesn't have a purpose than scrap it, right. If you have these
reoccurring commitments or long-term ongoing things that don't fit into your
schedule anymore. Take flips off, right. Instead of just ignoring
the notification taken completely off, don't fill your calendar with those teeny tiny tasks either. If you're scheduling
your activities that are second nature, like walking your
dog in the morning, then you don't need to have
that on your calendar. It's just want to start to get overwhelming and just
by looking at it, you're going to drive
yourself crazy. That's why I keep
those things separate, things that I still need to do, but they don't have
a set specific time that I need to do
them within my day. So take a couple minutes and clean the clutter
from your calendar. It's going to help
you get lean mean, it'll be much more easier
for you to manage. And big picture here, what we've talked
about here today is making sure that you create yourself the opportunity to take that step back,
look at your website, look at your marketing
literature, client base, look at your calendar and streamline and simplify
and keep everything up-to-date if you are not
staying on top of what is happening within
your business and outside of your business, you are always going to plateau. So I hope that was helpful and I'll see you
on the next one.
6. Wrapping It Up: Okay guys, here we
are with the final, final and breakdown and
break through and we're going to wrap it all
up for you today. First, I want to remind
you that there is a difference between scaling your business and
growing your business. When you're growing your
business, you're expanding. Yes, Your revenue is increasing, but nine times out of ten, So is your cost because you're having to make sure that you have a sustainable growth when it comes to
scaling your business, you're actually doing
more with what you have. You're setting a stage
that is going to able, enable or allow you to
support growth in the future. It means having that ability to grow without being hindered, without having to stop
and take those steps back and take those looks and
reset and repurpose things. I'm scaling a business
requires planning, funding, having suitable
systems and processes, the right staff in place
if you're in a position to do that the right technology,
the right partner, partners, and scaling
your business is about capacity and
capability, right? It's a deliberate process that requires participation
and for you to really, really analyze and
make sure that you have the right
resources in place. Startups typically
are more growth fueled by nature, right? So if you're in just
the first steps of creating your
business, That's okay. If you're going from
a product market fit, then scaling might need to be, um, something that you do
like sooner than later. And this is why we
often hear that, that businesses are
built to scale, right? Simply put it, that
means that businesses can acquire and service a large number of new
customers without really requiring significant
structural change. So it all depends on
how did you start your business or how are you planning on starting
your business, right? This all implies that
these individuals that are scaling their business or creating their business
with the intent to scale, they expect to experience exponential growth as it
continues to invest in systems, hardware, software,
things like that. To handle this big rush, an onslaught of customers. Right? Now, it's
not the case for many businesses and some are probably going to fumble
their way through, learned some hard lessons
before successfully expanding. But to avoid any pitfalls
and any costly detours, especially, you want to make sure that you are prepared to
scale your business, right? So again, scaling your business, it presents a large range
of challenges, right? And as your business grows, different problems and
opportunities are going to require different
types of solutions. And what might work for
you a year ago might not be the best approach
for how you handle things. Now. Also often mistakes
are avoidable through recognizing and
overcoming the pot, the common pitfalls that
are associated with growth. I'm going to go
through a couple of high-level ways that you
can prepare your business to scales that you can take everything that
you've learned here and you can start applying it in your business sooner than later. So again, you want
to make sure that you're staying updated
with the market. Business climate changes
constantly, right? Margaret, Research is
not something that you should do just when you're
launching your business. You want to continually do that market research because
it allows you to make your decisions based
on current information as opposed to what you've
learned thus far, right? When you're about to scale understanding where
your products are in their actual lifecycles
can actually help you determine how to maximize your overall
profitability. Right? Now, keeping up
with the market is going to help you decide whether or not to innovate a stream of new profitable
products for the market. How you're going to angle and position yourself
within the market. What types of products, what are you going
to price your thing? Makes sure that you do
everything that you can, put it in your
planner, make it a routine on a monthly basis. Quarterly basis, however, works best for your business and your schedule to take that time to do that
market research, right? And you want to
always be seeking information when it comes
time to scale your business, you do have to build up an in-depth picture of
what those customers, why? This comes from market research, but always any type of
information that you could find, we always need to be
learning so we can always continue to grow as individuals, as business owners and
as a business, right? So if you have that in-depth picture of how
customers respond, what they want, how they behave, then you're going to really
get a really good grasp on what marketing approaches
are going to work best for you and your business right
away that you can do this is talking to key customers, suppliers, business partners. Again, if you are in a position
where you have a team, get them to share what they know about the
customers that are in your existing market
right now so that you can continue to cater to them, but also have a firm
understanding of what it is that they are anticipating
from your business, your service, your company, your products, whatever it is. Now, next, when it comes
to scaling your business, you always, always
want to plan ahead, goes without saying, right? Definitely again,
don't get caught in that perfectionism
sludge, right? You don't want to put yourself in a position
where you're not taking intentional and continuous
and consistent action plans should be they should
always be updated, right? Like we've talked
about, your business. Continuously exposed to
constant changes in the market. And every move that
you make within your business does need a
significant amount of planning. Just as much as you did when you first launched
your business. And scaling is one of those important decisions that a business does
undertake, right? So planning ahead,
understanding your vision, understanding what's
your market looks like, the systems processes and people that you have in place is where you're going
to start in order to help you make
a more informed, more educated
decision that you're comfortable and confident with, that you're able to see
through to the end. Now, depending on where you
do decide to go, right? You do want to make
sure that if you are planning to re-invest in your business through
this scaling process, you do want to prepare
that cash-flow and financial management
for a growing business. Good cash-flow and sound
financial management is crucial because we don't want those cash restraints that are going to hold you
back from growth. And when you're
talking about scaling, if you're expanding your
business in a way that your revenue increase is significantly higher than the cash output
that you're making. It's not going to have that significant
limitation on you. So the way that you
use your capital, you need to make
sure that you are obviously whether you're
growing, you're scaling. You need to make sure that you are carefully
controlling that so that you can maximize your cash-flow effect of credit management, tight control of overdue debts, all of that is necessary. So if you're in a position
to grow your business, you definitely want to make
sure that you've checked all the boxes as
far as finances go. Scaling kinda gives you a little bit of leverage and
leeway as far as that goes, because you're again, you're repurposing and you're
making the things that you already have more
efficient and flow and run a whole lot
better for you. You're increasing prices,
you're repurposing products. So you're not
really experiencing that additional investment
from a financial standpoint. Now, when you're
scaling your business, gets your head and
problem-solving mode. When you're a new business, it's understandable to kinda act in crisis mode, so to speak. And you're always gonna
be troubleshooting. But as you prepare to scale, you want to take a more
disciplined approach to how you're going to
manage this scaling process. And you want to focus on leading or building
your employees, managing the team,
building your strategy. And instead of treating
each problem as a one-off, you really are taking
that step back that we've talked about in your
establishing systems and structures that are
going to make it easier for you to handle things
properly in the future. Now, as we're talking
about systems here, as the business
continues to grow, whether from a scaling
or a growth standpoint, the volume of information,
your financial records, your interactions with people, your business contacts,
your employees, all of your regular requirements as far as that goes there, going to be way
too tiring for you to keep track of without
having a suitable system. And eventually be
nice to take a day off or an hour off
or get some sleep. If you're investing
in the right systems, it's going to pay off, not just short-term, but also long-term. Obviously, the business is
going to benefit from that every single day because of the level of effectiveness that you have in your operations, it's just going to feel smoother
and you're not going to feel like you're
forcing things as much. Things are going to start
working for you instead of against you or you having
to work for them right? Now. Probably the most important
aspect of scaling is adopting the skills and the attitude and
the mindset, right? Scaling is hard and
that is why I do what I do with my clients is I am
that second set of eyes. I help them take that
step back and look at everything laid out
in front of me. We knock things out one thing
at a time with this secure, solid plan that is
fun, that is flexible. It is easy for you to just
take an implement right away, but it kinda takes that
emotion out of it. And that's where we kinda
get into the mindset. But it also takes the
guesswork out of it as well. When it comes to growing
your business to you. You don't want to value your
abilities to highly, Right? Because sometimes
it's nice to have someone throw in that extra
piece of something that you might not have
been thinking of or that you didn't realize
that you haven't encountered yet someone
to just continue to challenge you and
hold you accountable with the, what if this happens? What about this?
Have you thought about this, things like that? So you're going to need to
continuously be training, learning new skills, and
have the right attitude. That's how you're going to
actually lead your growth. Now, also, again, if you are in a position where you
either have a team, you're looking for a team, or even if you have just a VA, you want to make sure that
you are learning to delegate appropriately and trusting
your management team. This is so hard for
business owners to give up. Their day-to-day and control
of every single detail. But as the business
becomes more complex, you have to develop your
time management skills and focus on these essentials. You might need to bring insiders or outsiders and for help, you might need to delegate
certain pieces of responsibility for
certain areas into different specialties or appoint someone on your team
to take care of those. But it's also going to be essential for you to make the
most of your opportunities. You got into this business so that you could
provide a service, so that you could produce
a product for people, not to actually just be running your business everything
every single day too. It's really important to have that ability to
take that step back and look at what your
business looks like because there are opportunities
that are being missed. There's opportunities in areas where you're missing revenue, where you're missing
chances of giving yourself time back in your day. If you can learn to identify everything that you're doing, the amount of time
that it's taking, the opportunities
for efficiency and then really get
skilled at identifying the right team members and delegating out to them
the things that you do not need to be working on in your business so that you
can continue to be creative, you can continue to be inspired. You can continue to learn and grow and really get
out there and make connections and make
relationships with people that market research, analyze your data
and figure out where it is that you're going to
stop and you're gonna shift. Having a team in place and
really understanding where you're at is vital to
the scaling process. You don't want to
find yourself in a position where
you're starting. You feel like you're starting
over and you don't want to feel like you're
in a position of treading water either. That's why scaling
businesses is so important. Even if you don't really necessarily want to
increase your revenue, which I don't know who does it. But if you don't even want
to increase your revenue, at least increase your
efficiency and get some time back in your lives so you
can eventually step back. You can eventually
sell your business. You can hand it over to your
team and you don't have to be fully present 247 in order for your
business to run right. At the end of the day, scaling
means achieving the more, the more efficient
and effective and just a widespread
adoption of innovation. That's what you want to give yourself an opportunity
to do, right? It's not about just
growing and expanding. It means that
scaling is going to allow you to get more time, get more money, have more fun in your business and in your life. And again, when I work with my clients, that
process prowess, I help you bridge the knowledge
between processes and we identify gaps in your business and we connect
services and hand-on, hands-on solutions to
your real experience. I know that business
growth isn't easy, but I make it easier. I make it faster for you and
make it more sustainable by partnering with you with the processes and the
inset that you're missing, the people that
you've not thought at all, thought about before. And really taking those blinders off with you and challenging you and pushing you to do things differently so that you can
have better experiences. In the end, again, I do offer one-on-one programs. I also offer quick
brainstorming sessions. I offer bodily body
doubling sessions, and I also have programs
coming out all the time. So if you are interested
in working together with me so we can really strip back the layers
of your business, figure out where those
inefficiencies are, figuring out how we can find Mr. opportunities with
time or revenue, or people or processes or whatever that looks
like for your business. My contact information is connected here and
I would love to chat with you if you have any questions about any of this. Awesome, let me know. I would love to hear
your comments about this and I will see you
guys on the next one.