Growth is good, but growth isn’t always sustainable. That’s why we’re talking about scaling—growth that is deliberate, long term, and fully in your control.
To scale sustainably means going in with a plan and being prepared to handle any challenge that’s thrown your way. It’s the difference between getting a sudden spike in sales and every process falling apart and getting a sudden spike in sales and handling every order smoothly with great customer service to boot.
It takes planning, expertise, and sometimes funding to get it done. We’ll walk you through how to craft an iron-clad plan for your future.
Signs you’re ready for the next stage of growth
Growth doesn’t just need the right plan, but the right timing. Growing too quickly can lead to expenses you can’t pay, employees you don’t actually need, or a supply chain that’s grown out of control. Conversely, not scaling at the right time could mean orders you can’t fulfill and tasks going unfinished.
Here are a few questions to ask yourself to help you decide if it’s time to make a plan for sustainable scaling.
Are you ready for the next step in entrepreneurship?
You should only take your business to the next step if you’re truly ready for a bigger enterprise. Scaling up means your company is going to take more time, resources, and expertise that you have to be prepared to give. Scaling up is an exciting time, but you’ll need a level head to get it done in a way that’s sustainable for your business.
Ask yourself:
Lastly, some businesses are meant to be small businesses. It’s OK if you want your side hustle to remain a side hustle. It all comes down to your personal priorities, lifestyle, and financial situation.
6 steps to scale your business
There’s no one formula for scaling a business, because every business—and founder—has unique strengths and challenges. Scaling up a clothing business, for example, is going to look different from scaling up a skin care empire. But there are some common threads to consider:
1. Make a plan for your future
If your company started as a hobby, you may have just been going with the flow up until this point.
However, to scale sustainably, you need a business plan. It will not only help you understand your business, but it will be something you’ll need to show if you ever seek out outside investment.
There are different ways to format a business plan, but a basic one should include:
In particular, you’ll be creating a strategic marketing plan, with a forecast for the future outlining your plans for growth. What’s a realistic revenue goal for a year from now? What about five years from now? What’s your plan for increasing your marketing capacity?
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