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Essential tips for scaling any type of business.



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Essential tips for scaling any type of business.

Almost every business owner that enlists my services will ask "How do I scale my business?".  Most business owners focus on their profits from quarter to quarter and think that's how you properly scale a business, but I have a different theory.  Well, it's not really a theory, it's kind of proven and a lot of companies do this as well.

Scaling a business properly revolves around the people working for the company itself, not the profits.

There are three main stages of scaling up your business, and those are learning, execution and partnership.


Stage 1: Learning
This stage is pretty simple, you're basically learning about your employees and how they work.  This can also be thought of as "relationship capital" since you're only going to have a better business if your workers get better.

I'm sure you've heard of an internship, right?  Well if you haven't, it's basically someone that is working for you for free and making your business better than it was before in hopes of securing a position within the company.  It's an unpaid position for 1, 2, 3, or 6 months, that depends on the company and what they want to put their interns through lol.  The interns are investing in you with hopes that you will invest in them after their trial period is over.  Usually if an intern does well, they will be asked to come back to work after their trial period is over. 

The great thing about an intern position is that they are learning while you aren't paying them.  They're investing their time because they want to work with you, not because of a paycheck right away.  By building up the interns into full time employees, you're investing within your company and building it up to be better than before.  An intern that gets a job will be more loyal and work harder than someone who comes off of the streets to work a 9-5.

When training an intern, people want to use them to profit.  What you should focus on is breaking even, or just getting close.  No one will be able to come in and make you boat loads of money without experience.  They will be able to do that over time, and training them to do so will bring in the profits Essential tips for scaling any type of business.


Stage 2: Execution
When you have an intern, you're basically investing actually money into their training.  The execution stage doesn't really start until you start to profit off of their actions, and it will happen eventually.  There really isn't a set time limit for this stage, it just happens when it happens lol.  Unlike Stage 1, there is a financial goal with this stage and that is to profit more than you're paying the employee.  Basically you'll want to make enough money to profit after you do payroll Essential tips for scaling any type of business.

You can also go into something that is the 33/33/33 split to entice your employees to do even more than they are suppose to.  This type of split means that the business gets 33% of the sale, 33% goes to the person who earned it and 33% goes to stage 3 Essential tips for scaling any type of business.


Stage 3: Partnership
This stage only occurs when the employee has shown a great deal of drive and success within the company, and is consistent.  You will likely want to bring them on as a partner so they can make the business even better and increase your profits.

This stage is necessary if you want to scale your business into the stratosphere.  If your interns know they can work for free and have the possibility of becoming a partner, they will bust their butts for you.  Companies not using this stage are just constricting their own employees and they will eventually move on to better companies offering them more. 

If you're not reinvesting in your employees, you're not going to scale as quickly as you should, it's a proven fact.


The Pitfalls
One of the biggest problems with this is that a company will make the mistake of not being flexible with stage 1, the learning stage.  After the learning stage is over, a lot of companies will let go of interns and employees.  What they should actually do is try to keep them on Essential tips for scaling any type of business.    If someone is a straggler, of course you can let them go, but if they're a hard worker you will want to keep them around.  They will only improve your company in the long run.

Another problem that arises is that companies are worried too much on how much they're investing, monetarily, in the learning stage.  Of course you're going to be spending some money to groom your future partners, it's a common thing, but if you're not doing it, you're going to fail.



In Conclusion:
To scale a business quicker than normal, you will need to invest in the peopel doing the work.  Of course you will have clients come and go, but your employees are what keeps the gears of your business machine turning.  Train them right from the beginning and let them know that if they bust their @ss, they might have a chance at becoming a partner Essential tips for scaling any type of business.



Remember to follow me!
https://www.seoclerks.com/user/Razzy


Thanks!

Razzy

Comments

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honeybabe

We desire moremoney so that we can run ads or pay for employees or expand our operations, and everything else in
between. Yes, having more money would be great but it's wasted if you
don't know how to spend or properly invest that money on marketing or growing your
business. Setting proper goals is necessary for anyone who's
serious about scaling their business, making more money, producing more products
or achieving any other dream. They need to be smarter goals andthere needs to be powerful reasons behind why those goals absolutely must
be achieved. Be Proactive, Not Reactive, Strengthen Your Foundation, Embrace the Zen of Business.




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cmoneyspinner

Perhaps the office scene has changed since I no longer work outside of the home. But the places where I have worked, the purpose of hiring an intern was to keep them! What I have found is that the interns are usually the ones who don't come back because they experience they gained they were able to use to negotiate a good salary, usually at the company's competitor. What the companies should tell the interns, as they are walking out the door is: “Come back to us if you get what you think is a good job offer. Maybe we can match it or do you even better!”




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augusta

Scaling through the hassles of business isn't easy but we are focused and determined then it done.

one thing with a business is the learning process. it unheard of to just jump into a business without learning the ropes,we will fail if we don't face it squarely.




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overcast

Office scene around the world is pretty much the same. The same race for climbing one over another. And then trying to get raise and then leaving for another company. That part never changes. Only difference these days is that people don't work for company. They work for paycheck. Very few set of the people are into the working for the brand and for their growth. It's just the business owners job to make them feel like family.




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Corzhens

Our office also use the so called OJT or on-the-job trainees who work for free in return for a certification that they will submit to their schools as a requirement for the diploma. But once the OJT earns the diploma, they would apply work somewhere else. That’s fine. At least our company had helped those students get a job. But in fairness to some of them, they preferred to stay with us and now they have good positions in our office.




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overcast

I think for scaling any type of the business one has to be very good at promotion. And getting leads to the business is something one has to work every single day. And that's what going to bring more cash into the business. I personally think that people who are spending more money into the business should be focused on their content and the flow of the leads. Scaling does not happen overnight. And one has to be super careful with what they do in such context.

I think for scaling one has to focus on more leads. And that sequence will help get more business. And then retention of the clients part comes into the play.




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Tronia

That's a great point. I agree with you that scaling doesn't happen overnight and I think that some people get discouraged too soon if they don't see immediate results. We have to know that it's a long process that needs to be handled correctly and the leads are crucial.




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overcast

I think for drop-shipping and affiliate marketing the scaling is very hard. In fact people who are into the business of this type are going to have issues during their business scaling part. I guess for each one of us it'd be different way to observe things. I'd say some business are easier to scale. Say like food business. people are going to come to specific restaurant and the place. And they are going to buy stuff. So it's possible that scaling those type of business would be lot easier.




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wiseagent

Yeah, you're right.

Three stages of extreme utility to achieve such an important goal. Sometimes it may take a while to get the stages to communicate with each other (so that ideas can be better organized), but they are actually very good.

Thanks for sharing.




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Tronia

An amazing and educational article as always. I have never actually had anybody working for me - I am usually the one working for my clients but still, I think that you never know what awaits you in the future. It is always good to know different things when it comes to business.

I believe that scaling can be very hard for many because they aren't particularly sure how to do it, on what to focus first and so on. It can be quite tricky but it's necessary for any business to be able to fully grow.




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Corzhens

This reminds me of my days in my first employer, a universal bank that was on a downslide. The officers had embarked on cost-cutting measures that included little things like turning off the lights during lunch breaks or not using the air conditioner when the weather is cold. As they say, every little thing counts so when scaling a business, you have to start from the bottom then go to the top. That’s from the minor things before going to major aspects of the business.




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