A word of warning, though: When you focus on these areas in your business and gain competency with the skills you learn, you will start to see amazing things happen. So be prepared for change!
1. Hiring people (and the right people, at that).
No business can scale up to $5 million or $10 million without hiring talent in some capacity. I know that even mentioning the word “employees” can leave a bad taste for some business owners, because all they see is the annual salary being shoveled out of their accounts or the petty squabbles in the break room.
Let me be honest with you — at times, it is difficult to have such a large team. But I know of very few areas in business that are easy. Dealing with difficulty is why you make the big bucks. If you feel that no one can do it as good as you, or you always seem to end up with a bad team, I have some hard, no BS truth for you: It’s not the employees. It’s your leadership skills. Learn to hire the support you need so you can actively work toward achieving your business goals.
2. Utilizing systems and processes to be successful.
The two main reasons entrepreneurs have a difficult time managing people is a lack of leadership skills (as we discussed above) and a lack of systems. Once you have a solid team in place, you have to make sure they have the tools they need to get the job done.
It is nearly impossible for someone to be a good employee when all the info on how they should do their job is locked in your head, so you must have a system in place to communicate your ideas, needs, and goals. Also, not having processes in place to facilitate workflow is like turning on a fire hydrant without connecting the hose — no one knows what’s going on and all you end up with is a big mess.
3. Investing in customer retention.
If your plan is growth, it must include an investment in retention. If you don’t focus on this area of your business, you will most definitely be leaving money on the table. As Peter Drucker once said, “the purpose of business is to get and keep customers.”
If the three areas discussed seem like a lot of work, don’t worry. Help is at your fingertips.
We have worked with over 275 businesses to help them scale their business and free up the business owner’s time.
We took our experience and created a short video on the 5 elements (only 3 are mentioned in this article) necessary to scale your business.