Getting your business off the ground is one of the most difficult things to do. Finding those first few clients and customers is tough. Growing that first small community is even harder. It takes time, hard work and investment. It all pays off when you start to see the bank balance creep upwards though. Despite all this hard work, it doesn’t end here. The next step is even tougher. Taking a business from a small startup to big player requires talent and strategic planning. The first million is the hardest!
All the best businesses and entrepreneurs are always looking to the next step. Whatever stage their businesses is at, they’re always asking: “what’s next?” They’re looking for new opportunities and ways to push forwards. In order to make a true success from your business, you need to do the same thing. Ask yourself, what’s next? In this article we’ll show you how you can take that next step and scale up your business.
Think Big
Scaling up is all about your mindset as an entrepreneur. Although your business requires a lot of work, you should always have one eye on the horizon. Of course, make sure the company is ticking over, but keep planning the future. Set goals and shoot for the stars. Each of the biggest companies in the world had big dreams. Steve Jobs at Apple wanted to change the world, and so should you. The first step to scaling up is believing that you can. It’s all in the mind.
Increase Your Network
When it comes to business, it really is all down to who you know. To step up into the world of big business, you need big clients. You need large deals and lofty investments. You’ll need friends in high places and favours from powerful people. To scale up, you need to surround yourself with opportunity, and that all starts with networking. Another great reason to increase your network is to surround yourself with positivity. Business networks are full of optimism and passion. This is infectious and you’ll slowly adopt this positivity yourself.
Physically Grow
There will come a point where you simply can’t handle the workload yourself. As an entrepreneur and CEO, that’s not where your focus should be either. It’s time to start hiring employees that can take your business further. It’s time to speak to real estate agents like Canning O’ Neill and lease your first office. Set up a team of experts around you to handle the increased workload. Free yourself to look to the future and push the company forward.
Secure Funding
There’s a famous phrase in business that rings true when scaling up: you’ve got to spend money to make money. Scaling up requires a serious cash injection. There are more wages to pay, office space to pay for and stock to acquire. It may be time to seek investment from angel investors or your bank. Tighten up your business plan and financial projections and start looking for money.
Scaling up your business is a major step. It requires confidence, strategic planning and skill to execute. There is usually risk involved, but follow the advice on this list and you’ll be well on your way to the first million!
