In part 3 of our Scaling Series, we’re talking about traction to scaling, the period after making your initial $100K to surpassing the million-dollar mark.
There are a number of challenges you’ll face at this stage, including becoming overwhelmed with possibilities, losing strategic focus, wearing too many hats within the business, and more.
Today we walk you through how to tackle these challenges and the things the most successful businesses do at this stage to continue growing to 8-figures and beyond.
- 4:41 The first problem we see at this stage? Mindset and losing focus.
- 7:53 Why most business owners lose strategic focus at this stage.
- 8:53 If you’re overwhelmed and losing focus, it’s time to hire.
- 10:05 The critical role you have to hire for if you want to continue to grow.
- 10:42 The second problem business owners run into at this stage? The year-over-year mentality, and why you have to get out of it.
- 13:40 It’s time to get serious about email marketing.
- 15:10 Other things you can do to increase average order value and lifetime value.
- 16:30 The companies growing fastest at this stage all have this in common.
- 17:38 Why connecting with other successful business owners is critical to your success.
- 19:51 Challenges with cash flow at this stage, and how you can alleviate cash-related issues.
- 22:31 More commonalities between companies succeeding at this stage of growth.
- 25:56 If you’re ready to take it to the next level, it’s time to get some outside help.
Links And Resources