Scaling is a popular business term that speaks to the strategic expansion or growth of your career or business. Generally, scaling is a good thing. However, there is a right way and a wrong way to scale or grow your business. In today’s blog post, I provide some insights on business models and how the concepts can be adapted to suit your growth goals and do so in a way that is practical and efficient given your resources and where you are now.
Bigger Is Better – Or Is It Really?
Consequently, and perhaps unsurprisingly, scaling and the reality of growth it embodies can result in the notion of scaling being often associated with ‘bigger being better.’ After all, scaling and growth are usually synonymous with more revenue, increased market share, and even a bigger organisation or team in some instances. Still, one need not imagine a large corporation or extensive expansion when thinking of scaling and enjoying the successes that often follow the same. Instead, there is a way to scale ‘smaller’ and more sustainably. Here’s how…
01. Getting Clear
As suggested above, scaling does not necessarily mean making everything bigger. Instead, it may mean focusing on expanding specific areas of one’s business or career to maximise returns. As such, the first step to scaling efficiently and facilitating profitable and sustainable growth is ‘stock taking.’ That means getting clear on where you currently are in your business and career in light of where you are trying to go. Once you asses what you are currently working for you in your business or career, you will be able to develop a growth plan to facilitate scaling.