Is there a difference between growing and scaling a business? Co-hosts Hannah Robinson and Melissa Honan expand on this introductory episode to their scaling your business series and talk about the difference between growing and scaling a business.
Hannah explains the difference between growing and scaling a business - and why business owners need to learn how to differentiate the two. Hannah asks Melissa the first action steps she took when scaling her business. Hannah and Melissa go through the key signs that confirm it’s time to scale your business - they also acknowledge that it’s okay for some business owners not to want to scale their businesses. Melissa breaks down the first measure business owners should implement when scaling their business - she also explains why reverse engineering your goals makes them easier to archive. Melissa reveals strategies business owners can use to cope with the growing pains of scaling a business. Melissa explains why getting rid of employees and clients who no longer serve the company is crucial to scaling a business. Hannah asks Melissa about the essential milestones she set out to achieve in the first few months of scaling her business. Melissa reveals that moving from a contractor to an employee-based model was one of the most important foundations of scaling her company. Hannah and Melissa agree that having a contingency plan is a brilliant business plan in case things don’t work out when growing a company. Melissa explores the benefits of having flexible systems that can easily withstand the pressure of exponential growth, without harming the profitability and efficiency of the business. Hannah asks Melissa about the areas in her business that caused a lot of growing pains. Melissa shares the must-have processes you need to scale a business - and how great processes drive business growth. Melissa reveals what she did to guarantee high-quality services and outstanding customer experiences when she decided to grow her business. Melissa goes through strategies she used to keep her costs down when scaling her business.