Ep. 74 - Scale Up Your Business for More Freedom
If you’ve been struggling with finding a better balance between marriage and business. Trying to find more time to spend with your spouse and family. The solution may be to scale your business. What? How can growing the business be the key to spending more time at home? You don't have enough time as it is.
Well, the first thing to understand is scaling is not necessarily about growth. It’s about setting the stage to enable and support growth in your business.
So whether you want to grow or not, when you scale the business, you’re putting a structure in place that can handle more without putting in more work. In other words, it’s making your business more efficient which will make your business more profitable and give you some precious time back into your life.
Take a listen to this episode as we discuss some practical tips to scale your business and give you your life back.
Is your marriage and business in balance? Take this short quiz to find out and get helpful tips to make it better. https://www.powercouplesbydesign.com/your-power-couple-score
Key Takeaways:
To work smarter, you need to position your business to scale
Scalability is about capacity and capability. Does your business have the capacity to grow? Will your business systems, infrastructure and team be able to accommodate growth?
If growth causes your company to stumble because of confusion, orders falling through the cracks, insufficient staff, miscommunication, not enough manufacturing or delivery capacity –you’re going to have unhappy customers. The manual processes that were fine when you were small but now won’t let you move fast enough. You’ll either be putting out fires or desperately trying to keep your head above water. All of which is stressful.
Even if you don’t want to grow, creating a business to scale will mean a much more efficient business that is more profitable, sustainable and gives your life back.
Lay out the typical issues and reasons why most business owners work harder than they need to
Most entrepreneurs start their business because they’re good at what they do and start charging money
Most business owners learn as they go with no formal training
They piecemeal the help they reach out for. Accounting, legal, marketing, advertising. Everything is connected
Start with a plan
Business owner- Start pulling yourself out of the day to day by training and delegating to team members,
Contract out services if you aren’t quite ready to hire,
Look to see what type of software/hardware can make your staff more efficient with time
Document training and create a standardized process hiring, on-boarding, and training
Create systems and processes
Regularly scheduled meetings with leaders, inter department
Regular reviews, raiseses, bonuses
Develop future leaders
