Scaling a business often feels like you are caught between two stages. One part of you is still in your startup mindset, full of that entrepreneurial zeal, while the other half of you is looking to the future and widening the canvas of your growth plans. You might not be a new startup any longer, but you are also not a massively profitable enterprise with a customer base of thousands.
So what foundations can you build your scaling up process on, that will see you through this stage of growth and beyond?
It is your responsibility as the one in the driver’s seat to be seeking out new opportunities for your business, be it growing your client base, or pitching to investors. While you will inevitably face rejection, it is important not to let hearing ‘no’ define your path. Adopting a growth mindset will allow you to become resilient to failures, seeing them as part of your journey to something bigger, as opposed to another setback.
The fervour of starting up a new business is a huge motivation and driving force for growth. But, much like persistence, maintaining that passion for the long-term in the face of challenges can be an uphill struggle. The key to sustaining that passion, and scaling your business effectively, is having a clear vision and understanding what it will take to get there. This means being able to articulate your goals, strategies, and objectives in a way that is both inspiring and achievable.
It also requires putting systems in place that can help you measure progress and ensure you are on track to achieve your goals. This could include anything from setting up KPIs and targets to implementing processes and structures that will enable you to scale.
If there’s one thing you learn from the very beginning of your business’ journey, it’s that often gaining traction can take time. Having patience and belief that your product or service, accompanied by an actioned, carefully designed business plan will lead to something greater is often frustrating, and can be much easier said than done.
Though time is something startups and new businesses rarely have, it’s important to pause in those moments of frustration to reflect on where your business is at. This will allow you to ask yourself the important questions: where do you want to get to? What is working well? What do you need to change? Having these contemplative moments to gain perspective are essential to keeping one eye on the wider future ahead, while still celebrating the smaller successes along the way.
Original ideas by Nihal Advani
