When entrepreneurs start a business, all they think about is how to grow it. What are the characteristics of a scalable business?
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When entrepreneurs start a business, all they think about is how to grow it. What are the characteristics of a scalable business?
Topics: Small Business Growth, Scaling A Service Business, Scaling A Business, Growth Coach
In today's article, I want to revisit a subject I have thought about and written about many times over the course of my career. I've written about growing a service-based business in the past; that includes my article titled: "Why Is Scaling a Service-Based Business So Difficult?" Some of my thoughts on the subject remain the same, while others have changed. Here are some thoughts on how to grow a service business.
Topics: Small Business Growth, Grow Your Business, Scaling A Service Business, Service Business, CEO Advice
As a CEO inevitably you mess up and boy did I ever. In fact I messed up so much that we had to stop selling and marketing (I know the horror!). Our last blog post was almost six weeks ago, but there is a reason for that. Bad CEO's get down on themselves when they screw up or play the blame game. Good CEO's reflect, analyze, pivot and execute. This blog has nothing to do with SEO or attracting new customers; it's simply a business lesson that I hope saves someone some time.
Topics: Small Business Management, Small Business Growth, Sales, Scaling A Service Business, Marketing Small Business, Inbound Marketing
There are certain things every small businesses needs in order to succeed. I could make this list incredibly long but wanted to keep it to the essential items that have helped us succeed. Please note that in this article I am referencing a small service based business. Here are the 8 critical necessities for our small business to succeed.
Topics: Business Budgeting, Small Business Growth, Scaling A Service Business, Scaling A Business, Service Business, Business Blogging, Business Vision
Unless you are pretty green to the small business world at some point you have probably had to fire a customer of yours. So I pose you with the following question: is firing a client bad for your business? People that are new to business are probably thinking to themselves, "Why would you ever fire a client? That is refusing income. What a stupid decision."
Topics: Sales Advice, Small Business Growth, Grow Your Business, Scaling A Service Business, Scaling A Business
Lately, we have been attracting a lot of like-minded business owners as clients. You know the clients I am talking about; the clients that are a great fit for your service that you love working with. When you meet with a prospect that shares similar views you just kind of hit it off because it is a perfect fit. Then I got to thinking about how our marketing efforts attract these like-minded business owners that are a perfect fit.
Topics: Small Business Growth, Small Business, Scaling A Service Business, Scaling A Business, Marketing Small Business
When you decide to scale your small business you immediately realize that scaling a business is difficult. Then you start to ask yourself and your business network why is scaling a business so difficult? The main reason is that there is no magic formula; no one correct answer in this instance. While I continue to struggle with this question myself I have come up with a few keys to scaling a small business.
Topics: Small Business Growth, Business Process, Scaling A Service Business, Scaling A Business, Business Culture, Delegating, Business Vision
In October I received an email from a colleague of mine, Richard Swart, with an intriguing title; "What is better than an MBA and free?" An email with that title obviously gets clicked and read right? So I opened the email and here is what I read:
Topics: Small Business Growth, Grow Your Business, Scaling A Service Business, Scaling A Business
A small business owner trying to grow will realize that scaling a business is difficult, especially a service based business. As a small business owner grows a business their role changes dramatically. Some are not prepared for the role change and others don't know it is coming. Understanding that your role as an owner will change as your business grows is important. Here are a few things to consider about your role as a small business owner as you grow your business.
Topics: Small Business Owner, Small Business Growth, Small Business, Entrepreneurship, Scaling A Service Business, Scaling A Business, Small Business Sales
If you are a service business you will eventually hit the crossroads of a tough question; stick to your niche service or expand into other services? Scaling a service based business is difficult enough as it is. As an entrepreneur you will eventually hit a limit as to the amount of business you can handle on your own. Most business owners instinctively want to expand and grow without asking a very important question: are you truly ready to grown your small business? I've seen some service based businesses successfully scale their current service. I have also seen businesses successfully expand into offering other types of services and gain more market share. However, I have seen businesses (and more of them) fail at both growing their current service and/or expanding into other types of services. Before you expand into offering other types of services here are a few things to think about.
There is a lot of value in focusing on what you are best at rather than doing a few things that you are good at. By focusing on what you do best you will benefit in several ways. First, success will come naturally when you focus on your niche service. You will also have the ability to become an industry expert in one service in the eyes of your business network. Lastly, you will have the opportunity to emerge as a thought leader in your niche service. All of these are good things that will lead to a more successful business and career.
Topics: Sales Advice, Grow Your Business, Scaling A Service Business, Service Business, Business Sales, Niche Market
