Successful business owners often reach a point where the challenge of more growth is no longer the primary issue… instead taking their business to the next level becomes their key focus.
A growing business means that not only is your revenue growing but so are the costs and resources involved, and not always in the proportions you’d prefer.
GROWTH VS SCALE
WHAT’S THE DIFFERENCE?
Scale is about growing revenue at a rapid rate with costs and resources being added incrementally.
The outcome being that profits and margins grow at a much faster rate than revenue.
As revenue is a ‘vanity’ measure and profits are ‘sanity’, it makes sense that you have a focus on scaling rather than just growing your business.
There is a hidden trap in scaling though…
not only will your results scale but existing issues will be amplified and multiplied too unless you’re aware of how to bypass this hidden trap!
There are two primary groups of challenges that arise when scaling a business
1: CHOOSING TO SCALE
The most common reasons preventing business owner from committing to scaling their business are:
- Not knowing where to start.
- Feeling that further growth will mean even more pressure on their time with family and friends, and their ability to have personal interests and hobbies
- Not knowing the implications scaling will have on their existing business model.
- Feeling overwhelmed that the business might grow beyond their direct control.
We have a systematic process that makes it simple to decide, with confidence, to implement a successful scaling strategy…
2: IMPLEMENTING A STRATEGY
Like many things in life, the issues in implementing a change often arise from charging head long without first appreciating the nuances involved and consequently the hidden pitfalls…
Businesses reach a tipping point – a point where growth can no longer be sustained by doing just a little more of what’s always been done.
Being able to identify and recognise these tipping points quickly, and being able to adapt accordingly, makes a huge difference to how fast or slowly your business will scale.
At this point in a business’s development cycle a ‘step change’ is required…
‘Step Changes’ are a non-linear improvement in capacity, capability or performance.
In plain speak it’s a jump upwards at the same point in time. On a graph they look exactly like a step and hence the name.
Step changes aren’t 5, 10 or 20% improvements, most often they’re 2x, 3x or 10x improvements or advances in very short periods of time…
At Better Business Freedom we guide business owners through the process of successfully implementing step changes in scaling their business.
We do this with a tailored solution, centred on a proven framework and a dynamic model, that takes account of your unique circumstances, to deliver success and freedom your way!