Scaling your business is something that every single person who is in business wants to do, but often do not know how to do it properly. Or, they might be scared on how to do it. Or, you just don’t see the opportunity in front of you. How about I try and help you get over whatever it is that you need to get over and start making some more money while doing less work.
To first get an idea of how you need to properly scale your business, you need to actually map out your entire week. Even better, you actually take a whole week and write down every single thing that you do during your working hours. And I mean every single thing that you do!
You will be amazed at what you do each and every single day over and over and over again. On a side note, this is also an awesome time management exercise, as you can see where you can trim the fat of the day (such as refreshing stats all day maybe…).
Now, trim down the fat to where you can pinpoint exactly what you do each day in order to make money on the one specific area. Form a plan on the exact steps that you need to do. Say you want to make a huge network of personal niche sites and want to outsource it so that it grows faster. You need to outline exactly what the hired person will do so the sites can be scaled properly and efficiently.
There are many different levels of scaling your business. You can be involved and just not do the grunt work, or you can be totally hands off. Do you want to hire writers and designers and link builders yourself or do you want to hire a manager to take care of all of that for you? The less you do, the more time you have for higher paying opportunities, but you are also giving up control. You have to make sure you 100% trust your manager, especially in an online atmosphere.
So basically to do it properly, you need to make a real plan of what needs to be done and let someone execute it. Basically, you are trying to franchise your business while still owning the company. A lot of this can be interchangeable with outsourcing really, but as long as you are building on what you are already doing, it should be considered scaling since you are expanding on something you know is already profitable.
I do this with my local businesses and we are expanding rapidly. My main business model was to build it off the talents of good, strong, aggressive salespeople, who are doing a great job thus far. We hired them for basically commission only and my manager gets a small salary plus a nice percentage of the commissions. Of course we are profitable and busy, as our salespeople just visit local businesses and get contracts for the hundreds of services we can perform. It is amazing to see what they do. And because of this model, I have been able to open another store an hour away and be successful at it without having to be there every day.
Scaling can be hard and it is a daunting task at first, which is why people are afraid of it. The reason that I find most people are scared of is giving up control or the risk of being taken advantage of. Business is cutthroat, and even your employees, who you may treat like gold, are cutthroat. Employees are always looking for easier way out, and some think they can do things better then you. So you always run the risk of divulging your business model and trade secrets to people you think you can trust. That is downright scary, especially when you have spent years upon years learning and building your business. You don’t want to lose your entire business you have worked so hard to build to someone you hired.
While that can happen, it more then likely won’t. I hate to say it, but those people who are your employees will likely stay your employees or someone elses’ employees. Usually, an entrepreneur will always be one, as the employee is usually the one who lacks direction to be able to execute a plan properly. Don’t get me wrong, though. Plenty of us started working for someone else, but how many of you are working in the exact niche or area that your former employer did? I know I am not, and most of the people running businesses do not as well. I was a former finance guy at a new Honda dealership.
Finally, you may not see the actual opportunity in front of your face. Open up your eyes and do a bit of research in your industry, whether online or offline. I can guarantee you there is a niche for whatever you do somewhere that you can build upon. You love to blog about golf news? Why not start blogging about golf clubs? Golf courses? Golf shoes? Golf bags? Golf clothing? You see where I am going. Every industry can be broken down and expanded on even further. Figure it out and scale it out so that you can take it further. Or, say you have the golf industry taken care of. Why not move on to tennis? Less competitive then say NFL football, but again, you will always be able to find you niche in the grand scheme of things. Just search and press forward and don’t be scared about it.