Have you reached the upper limit of your productivity in your business? Are you doing all you can, but it still just doesn’t feel like you’ve grown your business to where you want it to be? If you’ve been running things as a CEO who is also the face of your business, there’s only so much growth you can handle on your own. If you’re ready to scale your business, it’s time to make some changes.
What’s Your Level-Up Goal?
The first step in scaling your business is to determine how far you want to take it. You don’t have to scale from where you are today to Amazon-like levels in the next calendar year. You get to determine how far you want your business to go, how big you want it to get, or how much income you want to earn from it. Nobody else can tell you what this goal should be; that privilege is all yours.
Once you have determined what the “next level” of business looks like for you, it’s also time to consider how much you’re willing to change. If you’re doing all you can right now and it isn’t enough to grow your business to the desired level, then something has to be different if you’re going to get over this plateau.
Here are three options for you to consider as potential scale models for your business:
Option 1: Hire More People
One of the easiest changes you can make to scale your business is to clear your own plate of everything that isn’t 100% necessary and essential for you to do. If you ARE the product or service you’re offering your clients, then you need to focus your energy on only the tasks that directly involve providing that product or service. You should spend all of your time consulting, coaching, or teaching – then hire someone else (or several people, more likely) to do everything else. This is an option to scale your business without really having to change anything about the offering; all the changes happen behind the scenes, where your clients and customers won’t even realize they’re occurring.
If you’ve done that and it still isn’t enough, then the other hiring option involves actually outsourcing some of your services to other people. You can bring on more coaches, consultants, or teachers and train them to provide the same services you’ve been providing. This way you can serve more clients and keep the same offering without having to work 70 hours a week to do it. If you go with this option, you may have to change your sales pages and product names to make it clear that not every client will be working with you directly.
Option 2: Change Your Offering
If you’re not comfortable hiring other people to work with your clients, another option is to change the product or service you’re offering. If you’ve been providing 1-on-1 services or custom solutions to every client, you can grow by changing those parameters. Instead of 1-on-1, offer group coaching sessions. If you have already been working with groups, consider booking larger venues or combining more than one group into the same training. This way you can deliver the same information to a larger group of people at once and make more money for each session that you offer.
Another idea is that Instead of delivering your services in person, you can offer them online. Either film yourself and create a free-standing product (like an online class or a self-paced workshop), or still do real-time events but cut down on your travel time and expenses by offering them via Zoom instead of face-to-face.
Option 3: The Best of Both
The third option is to combine options one and two to find the solution that works best for your business. You could hire people to conduct online services while you still travel and offer them in-person for a higher rate. You could let your clients start off by working with an associate, and then they can “graduate” to a higher level and work with you at a higher price point. You could convert your offerings to self-paced, online courses and sell those at a lower price point while still offering in-person, live events for folks who prefer that option and are willing to pay more for it.
Which One is Right for You?
The right solution is the one that feels the most right for you and your business. If one of these options scares you, that doesn’t necessarily make it the wrong one; it may be that it’s time to take a deep breath and take that plunge. On the other hand, if one of these options feels like it isn’t authentic for your business, then that one is definitely wrong. One of the best parts of running your own company is that YOU get to decide what is right for you and your business, and set your goals accordingly.
If you’d like some help figuring out how to scale your business, or which scaling method is best for you, click here to book a call with me. I’d love to help!