5 Tips to Help You Scale Your Business
There comes a time in the life of a business when the question must be asked, “Is it time to grow?” If you’re asking the question, then the answer is probably yes. Here are some tips to start scaling without breaking the bank.
- Create SMART Goals. By making goals SMART, you position yourself to be able to measure outcomes, chunk out smaller goals and set action items around the bigger picture.
- Specific. A specific goal has a far better chance of being achieved, plus it leaves you feeling more accomplished. To make a goal specific, answer the 6 “W” questions: Why, What, Where, When, & Which.
- Measurable. Put a number in your goal to be able to attain and measure outcomes when goal is achieved. This can be a financial goal or a number of clients.
- Attainable. Can you actually do this goal with the resources and time you have? When you set a great goal for your business, you grow and expand to match them, thus becoming attainable.
- Realistic. Your goal should be reasonably attainable yet a good stretch. A high goal brings high motivational energy to you and your business, so aim high!
- Time-bound. Every goal needs to have a time associated to it, grounded in reality, in a schedule, and on YOUR calendar.
- Get focused. Your 1 and 5-year goals should be big picture. Focus and refocus on the forest vs the tree approach to your business. The forest view could lead you to having a goal of “To have a sustainable accounting practice in the next 5 years,” but when you refocus on the details or the trees, it could be rephrased as “To have a sustainable accounting practice with 5 employees, 50 clients per year, in order to bring value to small businesses in San Diego in the next 5 years.”
- Automate. Automate. Automate. All too often small businesses get buried in the day-to-day admin tasks required to keep a business afloat. Technology has come SO far in the past several years and there are some really great ways to streamline and automate your business, helping free up more time to get out there and get more customers. Here are some of the tasks that you can easily automate for your business:
- Expenses, Invoicing, and Taxes: Nothing beats Quickbooks, here.
- Project Management: Asana, Trello, Basecamp, and MesiterTask are all great options for PM automation.
- Email Marketing: We use Mailchimp ourselves, but there are a plethora of providers our there.
- Social Media Marketing: Hootsuite and Buffer are the global leaders in this effort.
- Internal Communications: If you’re looking to automate this part of your business, you might want to check out Slack.
- AI Assistants: Google Assistant and Cortana are the top rated, so check the out.
- Scheduling AI: x.ai – AI Personal Assistant Who Schedules Meetings For You
- Create and organize strategic alliances. Your strategic alliances are those individuals or organizations that are in front of your target market and can refer customers and clients to you. When you organize those alliances into functional groups, you can reach out to them easier and not get so overwhelmed in your outreach efforts. For example, one of our Hera Labs buckets is “professional women’s organizations” and within that bucket we list National Association of Women Business Owners, National Association of Women MBAs, and Athena. Then, our action items are to reach out to one of these organizations per week to achieve our annual goal of being the premier female business accelerator in San Diego to serve 50 female entrepreneurs outside of Hera Hub.
- Take a leap-of-faith. Sounds easy, but this might be the most difficult step to take in scaling your business. But remember, you don’t have to do it alone! There are great programs and resources such as our 12-week Launch Intensive that will support & equip you on your pathway into entrepreneurship or our Scale Intensive, where we meet you exactly where you are with your business and help you take it to the next level.