Embarking on the journey of small business ownership is a cherished American dream, with an average of 4.4 million businesses opening every year. Being a business owner undoubtedly has its advantages – the freedom to be your own boss, the joy of nurturing a valuable entity, and the excitement of making decisions. However, the reality behind the curtain isn’t always as shiny as it seems. This week’s article is inspired by Jason Lippert and a challenge he identified in his Self Made Is A Myth Podcast interview about transforming a small business.

Small business owners are well-acquainted with the concept of hard work, a fact that’s universally recognized. A study from On Deck shares startling facts about owning your own business: 

●      39% of small business owners work over 60 hours a week.

●      57% of small business owners are able to take a vacation each year.

●      67% of small business owners will check in to work at least once a day.

●      65% of small businesses report profitability.

 

The level of commitment and effort they invest can be overwhelming for some, presenting a scenario that transcends the idealized perceptions of entrepreneurship. This is the unvarnished truth of owning a small business, a journey that requires grit and determination. 

 

In today’s blog, we delve into the transformative steps that can elevate your small business into something truly remarkable. With the right approach and guidance, you can turn your small business into a thriving, profitable entity that can operate independently of you. Without a firm foundation, growth can be a daunting, if not an impossible task. 

 

6 Pivotal Steps to Scale Your Business

 

  1. Business Mastery: The journey begins with mastering the 4 fundamentals of your business. Having a clear vision or destination of where you want your company to go. Mastering you and your employees use of time through block scheduling and accountability check-ins. Mastering the delivery of your products or services so that you meet customers’ expectations. Lastly having financial mastery in terms of knowing your numbers so that you can make good business decisions.

 

  1. Marketing/Sales: Identifying your niche and implementing effective marketing and sales strategies are critical for reaching your target audience. Identifying your target marketing and what makes your unique to them is the most important. From there, you need to effectively market to them to create awareness, build brand recognition, and attract customers who are ready to buy. Next, you need to have a sales process that nurtures those folks who are ready to buy through the decision-making steps to get them to say yes.

 

  1. Systems: Implementing efficient systems is the backbone of a successful business. It streamlines operations, enhances efficiency, and promotes consistency in delivering products or services. It empowers your team, reduces errors, and ensures a more organized and scalable approach, contributing to long-term success and growth. From streamlined processes to leveraging technology, establishing systems ensures consistency, productivity, and scalability. Without effective systems, managing growth becomes overwhelming for not only you but also for your team.

 

  1. Team: As your business expands, building a reliable team becomes paramount. Surround yourself with skilled and motivated individuals who share your vision is an important factor in your company’s growth. A strong team fosters collaboration, harnesses diverse skills, and enhances overall productivity. A cohesive and skilled team can overcome challenges, drive innovation, and contribute significantly to the success and growth of the company. 

 

  1. Scale: Scaling your business involves optimizing operations for increased efficiency. This step ensures that your business can handle growth seamlessly. It’s about creating synergy within your systems, processes, and team to accommodate the expansion.

 

  1. Freedom: The ultimate goal is to achieve freedom – the ability to step back and let your business run successfully without constant intervention. At this point, you replace yourself with a general manager or a president. This step signifies that your small business has evolved into a well-oiled machine, allowing you the freedom to explore new opportunities or simply enjoy the fruits of your labor.

 

If you find your business struggling to grow into a thriving entity that can operate without your constant involvement, it might be time to reassess your approach. The six-step framework offers a clear path to unlock your business’s full potential. By understanding and implementing each step, you can transform your small business into the success you envisioned.


Are you struggling to grow your business into a thriving company that can run without you?
This can be a difficult feat most small business owners struggle to achieve. However, once you can master this challenge, it will be worth the sweat and tears. You deserve to see the business of your dreams become a reality. If you’d like help working through these steps, book a free consultation with one of our business coaches. 

 

Book your free consultation today using the link below, and let’s build your business together: https://go.scheduleyou.in/Jnt4Lzqat