Is your business growing so fast that you are unable to keep up? Sometimes we think that growing a business is the best thing that can happen. But this doesn’t mean you are scaling and growing wisely, efficiently and successfully. There is a difference between working smarter and working harder. Luckily, we have 3 proven steps to scale a business successfully.
3 Proven Steps to Scale a Successful Business:
1. Create One Great Workable Sustainable Business Model to Scale a Successful Business
Once you establish and implement a great workable sustainable business model, you can replicate it. This helps you to create a business model that can be replicated to build out other business locations, allow for remote work and offices, or build a franchise – if that is your goal. You will have a formidable model that you know is capable and practical of working as the foundation of your business.
The Meta Viable Solutions (MVS) model recommends using the below formula to build a sustainable business model:
Strategy + Structure + People + Systems + Empowerment = Sustainability
- Strategy– an action or policy designed to achieve a major or overall aim. This includes having a great business plan, marketing plan and financial plan. Tony Robbins emphasizes that you know your purpose first!
- Structure – focus on building a strong structure so that the foundation of your business is solid. Avoid becoming a “house of cards” that can fall apart with any blow or change. You want to stand strong no matter what internal or external changes may come. Stand on a solid foundation.
- People – establish your internal and external team. Know your employees, team, strategic partners and outsourced vendors and suppliers are some of your most critical and valuable resources.
How are your organizational structure and procedures designed to recruit and partner with the right people and talent? Working with the right people is one of the best business solutions for the Overwhelmed CEO.
- Systems – in order to reach the next level in your business, you will need systems. Systems within your business allow for the business to live and breathe and function well. Systems establish an organized framework and method to accomplish overall tasks and missions for the company.
Systems set principles established in your business plan, policies and policies, standardization and process. How do you work together as an interconnected network? Systemizing will help you build capacity in your business and plan for the future.
- Empowered Culture – your teams should feel empowered, strong and confident when working in your company. Employees want to feel knowledgeable, trained, and in control of their life and work. Set expectations and performance goals to nurture and invest in your culture. Learn to cultivate a positive and productive work culture.
2. Build Capacity to Scale a Successful Business
Building capacity for your business means investing in the future state of your business. In your business, you are essentially building layers to your foundation.
- Capacity building is about planning and thinking beyond “now” or the present state of business.
- Think ahead so you are ready and able to invest wisely, effectively and efficiently.
- Be ready to manage internal change management as your business progresses and grows.
Your company should be agile and have the ability of an organization and its individuals to obtain, improve, develop skills, tools, knowledge, equipment and other resources to do their jobs competently now and in the future.
3. Expand and Implement Your Business Model to Multiple Locations to Scale a Successful Business
Once you have established and implemented your workable business model in step 1, you will be able to implement it at other sites. This allows you to effectively scale your business knowing that one “method” is producing profitable output. You are implementing your “proof of concept”.
- Communicate and train at multiple locations so your business has the consistency
- Implement your business functions through project management and planning
- Execute wisely with practical timelines. Assess markets in other locations
- Streamline communications between offices and remote workers as needed
Once you have a formidable business model that you know is capable of producing profit and positive outcomes, you will have a strong foundation for your business. You can then systemize and build capacity for your business and plan for the future state of your company.
To wisely scale, means to prepare. Once these elements are in place, you can then expand and implement your business model to multiple locations and streamline communications between your offices successfully.
Written by Sasha Lalite, Owner of Meta Viable Solutions, a Fractional COO & Business Consulting Firm
Presented by lastyleleaders.com