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“Growth is never by a mere chance; it is the result of forces working together.” And in all sincerity, growth in business is always a decision we make after analyzing every aspect.
We as entrepreneurs can collectively agree that scaling a business is no cakewalk. 🔥 It’s challenging, adventurous, scary yet exciting. When you have a business that has set up its loyal client base, retained its customer well, and even got referrals, it’s a sign you have your business strategies right, and are ready to scale up.
😍 But before you head to the podcast episode, I am excited to tell you that we are conducting a 5-Day Business Transformation Challenge for FREE!
Join this challenge only if you are ready to learn and invest in your business strategies, and scale up your business.
So now the main question remains-
What are the signs that your business is ready to scale?
Short answer: ticked off milestones and checked certain goals.
Long answer:
For running a business successfully, we need to learn the skillset of sending away clients sometimes. It’s a business strategy you need to learn when starting out.
In the beginning, we tend to agree to every other project that comes our way, only because we want to bring in more revenue into the system, without realizing it’s only pushing back your growth and ruining your business strategy.
eg: if you are into social media management, and a lead asks for portfolio development, you take it in, just because you are looking for the cash flow, and your graphic designer can probably squeeze in a new project at the time.
This is because you haven’t really cleared out your business strategy to be able to say no and to focus on what you actually started your business for. So if you are still in that phase where you’re taking in every client who is remotely related to what you do, you are not yet ready to scale your business.
You should, as a minimum, consider saying no to leads who are not only out of your scope, but are also walking red flags. So if you can afford to say no to such clients, you’re ready to scale up!
Now if you have come to that phase, where you have rejected such clients, congratulations, your business strategies are marvellous!
If not, you need to remember that not everyone falls into your client category, and you need to reject leads from time to time. But before we dive deep into it, ask yourself, what phase of your business are you in, and what business strategies are you working on?
This is something we teach in our Homepreneurs Club- get you out of that ‘how-to’ phase, help you create your business strategies, scale up your online business and generate revenue with a sustainability factor!
Read more: 5 Reasons Why your Business is not Growing
But how is rejecting clients a good sign to scale your business?
Is that a good Business Strategy?
The reason you might have said no, although you are providing the same services could be-
- the lead is not your ideal client
- some behaviour or red flag that doesn’t resonate with you.
- you are confident your business strategy will bring in leads.
If these are the reasons, it means-
- your business is ready to scale
- you have clarity on your ideal customer
- you have a clear mindset and are confident about landing clients who would prove right for your business.
5 Signs that your business is ready to scale-
- You have set some goals for your business and you are already achieving them in less than the time you thought, so now you can get to the next level.
- You have set up your business strategy that’s generating a cash flow.
- You have a loyal client base, along with a good retention rate.
- You are getting referrals from existing clients
- You are getting paid on time
This simply means you have built that trust and getting enough cash flow to scale your business.
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You also have a reliable infrastructure as a source of income. Be it your employees, strategies, machinery, tools, or systems that have proved well in the past.
But remember that having a large team doesn’t really mean your business is ready to scale.
- Having proven results
- happy clients
- quality service
- the right tools or machinery that you have used for a good client experience
- being confident about your services or products
are the signs that you have the right business strategies and are ready to scale up. Now, it’s time to take risks!
So as a business owner, are you ready to scale your business?
Investing in your business comes with some amount of risk.
We always recommend people take calculated risks, and as a business owner, you should always be ready with your business strategies so you can take those risks if you want to get to the next level.
But take note of whether you have enough revenue to invest in your people who can actually help you grow your business.
Your investments can be a business coach, some courses or programs that can improve your business strategies and skills as a business owner, some tools that you are going to implement in your business, or maybe a marketing agency that can actually help you scale up.
Remember, a ready-to-scale business is not only about you, but also about the people you have delegated work to and the people you have hired in your business. You are taking a risk in terms of their families as well because when you have a set of employees in your business, you have the responsibility to put food on the table.
So taking risks in your business is not only about you, it’s also about the people who are dependent on you.
Listen to the Podcast
Now if you are into the scale-up phase, make sure you look out for those 5 signs in your business because scaling as a process is bigger than management.
When you are done with all the important strategies, take this podcast as our final checklist. And if you are able to tick-it-all, you are ready for the giant leap!
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