Growth Driven

How To Grow A Small Business Into A Large Business

April 01, 2021 Edwin
Growth Driven
How To Grow A Small Business Into A Large Business
Chapters
Growth Driven
How To Grow A Small Business Into A Large Business
Apr 01, 2021
Edwin

How To Grow A Small Business Into A Large Business

Three overlooked, but crucial factors for growing a small business:

1. Competent Team Members
2. Processes and Procedures
3. Technology

Some small business owners consider making enough money to pay the bills and occasionally enjoy a vacation to be the epitome of success. For others, keeping their small business small is simply not enough. Many entrepreneurs have a goal of growing their small businesses into large ones with the potential for greater profits and reach.

Acknowledging that you can’t do it all is an important step in opening your business up for growth opportunities. Additionally, bringing in good people who are experts in their fields can help inspire your work and get your business on the track for progress.

Invest In Your People

It's that simple. Agencies are service businesses and those services are provided by people. So get the best people, give them the best training and engage them in providing the best possible service to your clients. You can't grow if you don't retain your clients. It's OK to have a slower onboarding of new clients as long as you retain them.

Create The Right Systems And Processes

You can't build a sustainable seven-figure business without creating effective systems and processes. Create systems that allow you to delegate, outsource, and hire a team to execute on a day-to-day business. This frees you up to focus on big-picture strategic objectives that drive the growth of your business. 

Think About Scale

An important tip is to always think about scale. Automate where you can and outsource what's not absolutely core to your business.

Show Notes

How To Grow A Small Business Into A Large Business

Three overlooked, but crucial factors for growing a small business:

1. Competent Team Members
2. Processes and Procedures
3. Technology

Some small business owners consider making enough money to pay the bills and occasionally enjoy a vacation to be the epitome of success. For others, keeping their small business small is simply not enough. Many entrepreneurs have a goal of growing their small businesses into large ones with the potential for greater profits and reach.

Acknowledging that you can’t do it all is an important step in opening your business up for growth opportunities. Additionally, bringing in good people who are experts in their fields can help inspire your work and get your business on the track for progress.

Invest In Your People

It's that simple. Agencies are service businesses and those services are provided by people. So get the best people, give them the best training and engage them in providing the best possible service to your clients. You can't grow if you don't retain your clients. It's OK to have a slower onboarding of new clients as long as you retain them.

Create The Right Systems And Processes

You can't build a sustainable seven-figure business without creating effective systems and processes. Create systems that allow you to delegate, outsource, and hire a team to execute on a day-to-day business. This frees you up to focus on big-picture strategic objectives that drive the growth of your business. 

Think About Scale

An important tip is to always think about scale. Automate where you can and outsource what's not absolutely core to your business.