Scaling a business
Scaling a business into a business empire is all about growth and impact. You can grow your business by -:
- Reinvesting the profits you make back into the business .
- Diversifying into other businesses.
- Buying off other business.
- Getting into partnership with other businesspersons that is, through equity purchase.
- Or a combination of all.
Personally, I have used a combination of all. The other day, I was asked if I were to do it all over again, how would I prepare better for scaling up. Got me thinking and I would say:
- I would set and formalises system and processes from day one
- I would invest and use technology from day one
- I would mitigate the impact of the people factor a bit earlier and a lot more
- I would be bolder in my ask
- I would have more faith in my ability and believe in myself
- And finally I would be less anxious and trust God a lot more
After all He instructs us not to be anxious of anything. To the entrepreneurs out there, what would you add to this list? Remember we are all in journey. Our destination: The top of the mountain.