Most small business owners want to grow their business.
But is growing the same thing as scaling?
And understanding the difference can mean the difference between more profit with less work, versus less profit with more work.
‘Scaling your business’ is a buzzword phrase you hear in the tech startup industry all the time. But most small business owners are fuzzy on its exact meaning and how it applies to them.
So if you take 3 minutes to read through this brief article, you’ll see the huge difference between scale and growth.
You’ll also discover how it can open doors to a whole new level of prosperity and freedom for you and your family.
The Problem With Growth
Growing your business and increasing revenue is great, but it can also add more complexity and ultimately more work.
So when business owners are only focused on growth (or if it just happens organically), they often become swamped with work and end up stressed out, frustrated, and often find themselves working more while earning less.
Let’s use an example.
The Small Business Administration (SBA) offers 10 ideas for growing your business.
These ideas may help your business grow, but many are vague (“expand globally”), expensive (“acquire another business”), or outdated (“expand to the internet”).
The biggest problem, however, is that this kind of non-strategic growth usually backfires.
You either get way more work and complexity and never get to enjoy your money.
Or your costs rise and gobble up all your revenues. So you end up making the same amount despite all the growth.
The solution to all this madness is where business scaling comes in.
How Scaling is Different
Scaling your business adds the extra money to your bank account like you want, but also decreases your need to be involved in the day-to-day business operations.
So you ultimately get more money with less effort.
How can that be possible?
It works because scaling your business is all about adding efficiencies so you can get more done in less time.
It’s about introducing systems and procedures to increase productivity.
It’s about leveraging other people’s time, money and relationships so the business runs smoothly — and even grows — without your day-to-day involvement.
Scaling is about Strategic Growth within a Sustainable Framework
So while scaling is all about using rapid growth strategies to add new customers and grow your revenues…
Scaling also adds a framework to ensure that these growth strategies are sustainable and don’t add extra work to your plate.
In fact, when we help business owners scale, they are amazed at how much easier their life becomes.
(Now to be fair, that doesn’t happen overnight. There is plenty of legwork to do to put these systems and frameworks in place. But once they are there, your workload goes down while your profits go up.)
So what are the most efficient ways to scale?
After 15 years of experience and working with some of the most successful small business owners on the planet, we’ve narrowed down our own list to 7 critical areas.
Here are the 7 Key Growth Strategies We’ve Found to Help You Scale:
- Become an influencer within your industry and get all the free publicity you want
- Learn how to effectively market and advertise your business
- Develop the 3 key skills required to scale: great business habits, focus, and leadership
- Supercharge your productivity with the right systems
- Protect your business assets from pirates, predators, and disasters
- Hire only A-Players to run and grow your business for you
- Leverage other people’s money to access more capital & credit
What To Do Next
The first thing is to decide if you want to scale or not.
There’s no right or wrong answer. You either want to scale your business or you don’t.
There’s nothing wrong with staying small and doing all the work yourself.
However, if you think that growing your business just means more work and more headaches, don’t be fooled.
Scaling your business the right way gives you the growth and extra income you want without the extra work.
So scaling helps your small business become a big business without the extra costs, complexity, and frustrations that usually come with simple, organic growth.
In fact, Garrett (our founder and Chief Wealth Architect) says that scaling business revenue is the fastest way to reach Economic Independence he’s found.
Our New SCALE Masterclasses
If you’re serious about scaling your business…
We’re sharing the same rapid-growth technologies we’ve used and shared with our elite clients in a series of 7 Masterclasses.
We call the entire program SCALE. It includes all 7 of the strategies listed above in a simplified way that won’t overwhelm you, even if you’re a solopreneur or single-office professional.
Yet the strategies are robust enough to help any business of any size scale fast.
Scaling your business revenue is the simplest and safest path we’ve found to increase your income and reach Economic Independence as fast as possible.
Why? Because growing your business is all about investing in what you already know. You’re in complete control and you can scale your business revenue as simply or aggressively as you want.
Your Action Plan
SCALE is a tuition-based program and we have an introductory offer available for the next few days (64% off).
So here’s what you want to do:
- Check out all the strategies and tools you get with the SCALE masterclass program.
- On the program description page, click the “Get Started” button and make sure your 64% discount is still active (you may even qualify for a couple of bonuses if you hurry)
- Order SCALE and try it out for 30 days. If it works for you, you’ll get sustainable business growth strategies that make your life easier. And if you’re not 100% thrilled with the content, you’re out nothing. You’ll never know how much it can help unless you give it a try.
- If you’d prefer to meet our entire team in person and learn business scaling techniques interactively, you may want to join us for our first-ever Wealth Summit this November in Park City, Utah. Garrett just announced all the details about it here.
Until next time…
Build the life you love,
The Builders at Wealth Factory
What is the Living Wealthy Newsletter?
We share timely trends, news stories, and current events that affect your life. We help you see the impact, personally and socially, and give you possible solutions to avoid any negative effects. We also give you additional links and resources if you want to investigate further. The purpose is not to be the last word on any topic. Rather it’s to help us all stay informed of what’s going on in the world without letting those events negatively impact your lifestyle. Our goal is to help us all live richer, fuller lives from a position of financial strength. This allows you to weather economic hard times, and seize whatever new opportunities arise in our changing world.