So, You Are Thinking About Scaling Your Business?

 

by Safaraz Ali, CEO – Pathway Group

As you are reading this article you may be wondering, how and when to scale your business.

The important question to consider first is a slightly different one which is: Why? Why would you scale your business?

When you have a growing, profitable business, there are inherent risks. Typically, the underlying issue is that the management’s capacity falls behind the needs of the day-to-day operations, which leads to growth pains such as high organisational stress and negative disruption. These types of growth problems can quickly spiral out of control and it is then difficult to recover.

Long-term business survival rates are low; and we hear this so much that we can get slightly immune to the reality and think it will be different for us! If you are seeking to scale your business, then before you begin, it is crucial to understand the risks you may need to take and the sacrifices you may have to make.

To maximise your growth potential and to scale, at times you will need to consider stopping first, reconciling, evaluating – in fact just taking the time to look within. You must be willing to be completely open-minded, which is often easier said than done, be willing to unlearn, relearn as well as learn. This may include listening to things that it may not thrill you to hear. The worst thing to do here is to allow fear or worst your ego to prevent you from assessing the steps you need to take.

You can read the full article on The Business Influencer website: