Do you know the difference between growing and scaling your business?
Many entrepreneurs don’t, so do not feel ashamed if you answered, “No,” even if just to yourself.
So, let me explain the difference:
Growing your business refers to your bottom line… more specifically, your revenue.
Every business starts at “Ground Zero,” right? Then, they can begin to grow.
They can grow in many different ways. For example:
- They may be able to hire more employees, contractors, etc.
- They may introduce more products and services
- Their number of locations may increase
Scaling your business, is when you start to see REAL growth! Why? Simply because your business now has the people, systems and processes in place, to grow legs and arms of its own.
When you start to scale your business, you’ll know it. How? A few key indicators that you’re successfully scaling your business are:
- Your revenue starts to increase drastically
- The business requires less of YOU
- The systems and processes are doing much of the work for you
As you\’re working to grow your business, you’ll learn what systems and processes will help take your business to the next level, then the next level, and so on.
You may be asking, “Can’t I just put the systems and processes in place now?”
The answer is, “No!” First, you must learn which systems and processes YOUR business needs.
You also need to have the right people in place. In every business, there’s a learning curve, and a numbers game to work through.
When you have all the right ingredients, and your “secret sauce” is on point… you will then begin to taste the sweetness of SUCCESS!
Hopefully, this post helped you understand the difference between growing and scaling your business.
If you have any questions, please click here to visit the Contact Me page, or complete the form below.
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