How to Scale Your Business— A Guide to Growing Your Company Successfully

Are you tired of hearing the same old business advice over and over again? The articles, books, forums, seminars…it’s all too much! Who can make sense of it all? As a small business owner, there aren’t enough hours in the day to sift through all this information.

This guide is designed to be a practical, actionable roadmap for scaling businesses from the ground up. You can take steps every day to help you, ultimately leading to significant growth.

The Myth of the "Quick Fix"

Every business model experiences growing pains. You’ll find yourself in a situation where you cannot keep up with the demands of your potential customers, and ultimately you will need to scale. Unfortunately, there is not necessarily a quick fix by any means, and if you’re looking for a hidden trick, well, I hate to break it to you…there isn’t one.

Before we get into the nitty-gritty of scaling your business, I feel it’s vital that you understand that there isn’t a magic button or silver bullet. Scaling requires hard work and dedication on your part but, if done correctly, can be incredibly rewarding. Like anything else in life, not everything will go according to plan…there will be ups and downs. Still, if you follow this guide closely, I believe that you’ll have a good chance of increasing your business’s revenue significantly over time.

Understanding What Scaling Is

Before scaling your businesses, it’s essential to understand precisely what scaling means. When you start your business, only a handful of people are likely involved with its creation and development. As time progresses and the business begins to grow, we must transition from “a company” to “the company.” In other words, an established and professional organization with a dedicated team with strategic internal processes behind it.

Financial Planning

Scaling a business requires you to plan your financials carefully. When a company scales successfully, it means that revenue increases significantly. You’ll need to manage cash flow carefully to avoid stretching yourself too thin and ultimately fail from lack of planning. This is the time to pull out those spreadsheets and start working on forecasting accurate numbers so you can plan accordingly.

Building a Team

Scaling a business also means that you’re going to need more employees, which brings about the additional challenge of human resources (and we all know what a pain HR can be). Hiring and managing your team effectively is an essential part of scaling—we cannot grow without them!

Leadership

At this point in the game, you’re at the top of your company’s hierarchy. It’s up to you to make sure that your business scales successfully and sets the foundation for much more sustainable growth in the future! Influencing and inspiring people around you through your leadership skills is crucial to scaling a business in the modern era.

Sustaining Momentum

No business in its right mind would stop scaling after one success. You’re going to have more opportunities on the horizon, so don’t slow down now! There are some genuine dangers of slowing down at this point. Do not become lazy just because things are going well!

Common Problems & Solutions

Problems may arise when we least expect them. We cannot always plan for everything, and some issues will occur over time. Hopefully, the following scenarios won’t ring any bells…but if they do,here are a few suggestions on how to get past these problems!

It Takes Too Long to Grow

Scaling a business is not easy, it requires time and dedication. If you’re trying to scale your business too quickly or neglecting certain areas of development, you may find yourself falling short of your goals. Slow down, for heaven’s sake! You can do this right, so give yourself the space to do it!

I'm Losing Money

When you first start scaling your business, it’s possible that you won’t be making much money at all…in fact, you may be losing more money by hiring new employees or buying more equipment for your team. This is an expected part of scaling a business. Treat it as an investment that will pay off big time in the future!

Sometimes you have to spend money to make revenue…that’s business for you! Don’t be afraid to re-evaluate the situation. Cut your losses and move on!

It's Hard to Balance Work & Family

If you’re a single entrepreneur, you likely managed time perfectly throughout the years when your business was small. Now that things are about to get real, it may be hard for you to balance your personal life with your professional life. This is easily avoidable if you plan ahead of time!

“I have a lot of work to do, so I’m hiring someone to help out around the house.” This is one way you can plan for the future without ruining your present lifestyle!

“If anyone messes with me, I can just fire them!” Yeah…that’s not how it works in real life, unfortunately. Treat your employees with respect. Try to source people who are competent on their own and you won’t have to worry about this problem.

I'm Having Trouble Managing People

Eventually, your business is going to grow so much that you’ll have trouble keeping track of your team. Don’t be afraid to delegate responsibilities or ask for help when you need it. If things are getting too overwhelming, it’s perfectly fine to scale back your business until you’re ready.

I'm Finally Earning Money, but I Miss Being Creative

When you first start your business, everything is new and fresh.You may find yourself longing for the days when you were creating something unique out of nothing. This is normal. Remember that this is what you do best, and you’ll be fine! This is a pretty common problem for entrepreneurs, so don’t feel bad if it happens to you.

I Don't Want to Delegate Responsibility.

If you like to be in complete control of your business, then this danger may hit a little close to home for you…but that doesn’t mean you can’t do something about it! First of all, give yourself a break. There’s no need to work 24/7. Secondly, try finding a partner or hiring an employee who can take some of your workload off your shoulders…you’ll need the rest!

My Employees Aren't Doing What I Want Them to Do.

You might be tempted to yell and scream and intimidate them into doing what you want, but don’t! That’s counterproductive, and it won’t help your business at all. Instead, make sure you set clear expectations and follow up with regular check-ins to make sure they’re meeting the standard you’ve set for them!

I'm Scared of My Competitors

If this is happening to you, remind yourself that you are the best at what you do. Remember where you came from, all of the work it took to get here, and use that momentum to take your business places they can only dream of! You are in control, not them.

I Feel Like Crying

I feel you, man. We all have been there before! Yes, big things are happening…but you’re still the same person at heart, with the same core values that brought you this far in life! The best way to combat this is to maintain perspective. You can do this.

Factors That Affect Productivity

Successful scaling isn’t just about growing your website traffic or revenue (although these are good measurements), but also finding positive ways to maintain the level of work that you’re already doing! Scaling is all about handling your new and old customers’ demands without compromising quality. The following are some common problems that a business may face as it begins to scale:

Stress

Stress is mentally and physically exhausting and can lead to decreased productivity or a poor work-life balance. Stress will, in turn, cause a decrease in revenue. If you find yourself working 10+ hours a day and constantly putting out fires, then your priority should be scaling your team before anything else.

Confusion

Again, when you have a team of people working towards the same goal, this is much less likely to happen. However, when your business starts to grow, it’s easy for different departments or offices to lose sight of what they’re trying to do. To fight the issue, make sure you’re communicating with your team regularly.

Frustration

As the business grows, everyone on your team must be on the same page. If one person isn’t pulling their weight, you risk causing frustration for other team members. Frustration could begin a negative “domino effect” where others who are frustrated with one member of your team may start to perform poorly.

Take it One Step at a Time

Scaling your business can be a daunting task and requires a lot of forethought and planning. We mustn’t try to rush this process and instead take things one step at a time to truly create something that we can be proud of. There are times when you hit bumps in the road, but these setbacks can be used as opportunities to learn and grow.

Well-known apps like Facebook, Twitter, Pinterest and Instagram all started small. It wasn’t until they found ways to make their platforms scalable that they found success. The most significant difference between these companies and your own? They have teams of highly skilled and experienced people to help them scale their business. Having a group of dedicated people is one way to ensure that you can stay on track without spending months learning how to do something that someone else already knows how to do. It’s critical to find ways to make your team scalable before anything else.

Hiring Resources For Your Business

Hiring contractors/freelancers can be an expensive investment, but it does come with its own set of benefits. For example, you can hire a person for specific tasks if you only need help with a particular area for a short period. For instance, if your website is not converting customers the way you’d like it to and you’re unable to fix it yourself, you could hire someone who specializes in conversion optimization to do just that.

Scaling is more than just hiring new employees. It’s about finding the right people to help you grow your business into something you’re genuinely proud of. When you find the right people, make sure to give them the tools they need to succeed. This can mean anything from giving them your full support to helping out whenever possible.

If you’re at a point where you feel like you need additional help, then it’s time to start scaling! You may be wondering how, though. There are many different strategies that you can try before hiring someone full-time.

Freelancers

Working with freelancers is the most common way of scaling your business, but this doesn’t mean that it’s the most effective. Freelancers are hired for tasks that need to be done quickly. However, they’re not ideal for ongoing work or if you have a dedicated team member who can handle the job themselves.

Virtual employees are the best talent for small tasks that don’t require someone in-office. For example, you may need to hire someone to review reports or do hourly data entry. Depending on your business, you may also want to consider getting some assistance with different aspects of your social media strategy — like updating your company profile on various platforms, requesting reviews, or even writing posts for you.

Virtual Assistants:

Another online resource to consider is virtual assistants. These employees will perform various tasks from scheduling meetings, sending out quotes and invoices, to emailing more clients. They can do anything from small tasks that need to be done quickly to potentially taking over specific business functions.

Full-Time Employee

The last option you have is to hire a full-time employee, but this shouldn’t be taken lightly. First things first — are you ready? Do you have the proper support in place? Are there enough hours in the day for them to get everything done that they need to do? If not, then you should consider other options before going this route.

No matter which strategy you choose, it’s essential to communicate with your team and let them know what to expect. This will ensure that everyone is on the same page and there are no misunderstandings down the road. Signing a contract is also an effective way of ensuring that both parties know what’s expected of them and have no misconceptions.

Understand the Changing Roles

It’s also important to remember that scaling shouldn’t stop once you’ve hired your full-time team member. As your company continues to grow, it may be time to add someone else to your team or even create a new position for them. Once you’ve settled into a new role, then you’ll know exactly what’s required of that particular position and whether or not it will need to grow in the future.

Whether it’s working with freelancers, virtual employees, or full-time staff members, there are several strategies that you can try before hiring someone full-time. Your choice will depend on your business, your team’s current capacity, and the tasks at hand — but figuring out which strategy will work best for you is something that only time will tell.

If you decide to hire a new employee, though, make sure to work with them and help them understand your expectations. Having a clear business plan in place and knowing exactly what you want from this person will make it easier for everyone involved and allow for future rapid growth down the road.

Take Action

We’ve outlined the different strategies you have at your disposal for scaling your business, but now it’s time to take action. No matter which strategy you choose, make sure to be open and honest about what’s required of them and how it will fit into the bigger picture. If they understand their role in the company, they’ll be more productive, and your team can grow together.