10 Ways to Scale a Business from Startup to a Huge Company, According to These Titans
It’s one thing to start a business and another to scale it. Here are ten tips for massively growing your company from leading entrepreneurs and Advisors in The Oracles who have done just that.
1. Create a sense of urgency.
Grant CardoneImage credit: The Oracles
You need three things to scale a business. First, hire well so you can delegate. You’ll never scale if you have to handle everything yourself. Second, pick your battles. Don’t spend days deciding on things like the perfect logo color — your brand will evolve anyway. Focus on acquiring more and bigger customers. You want volume and margin; so start hunting for big game, not mosquitos.
Third, create urgency. Set specific timelines for action and achievements. One of the biggest mistakes businesses make is not operating with enough urgency. You’re in a marathon, but it includes many sprints. Start winning the little races and you’ll create momentum! —Grant Cardone, sales expert, who has built a $750 million real estate empire, and NYT bestselling author; follow Grant on Facebook, Instagram, or YouTubehttps://tpc.googlesyndication.com/safeframe/1-0-37/html/container.html
2. Solve your customers’ problems.
Melanie PerkinsImage credit: The Oracles
Providing real value to your customers is powerful. Its importance cannot be overstated. Offering a solution to a real problem that people care about will make it much easier to run a business.
Canva is proof of this. Within the first month of launching in 2013, we had more than 50,000 people sign up to use the platform. Six years later, we’ve grown to over 15 million active monthly users across 190 countries who have created over 1 billion designs. —Melanie Perkins, co-founder and CEO of Canva, which is valued at over a billion dollars
3. Become a master at selling to your avatar.
Patch BakerImage credit: The Oracles
Many people will tell you to hyper-focus on a niche market, like health care or real estate. I disagree. Focus on the process, not the industry. For example, we identified processes for products at different price points, and for one-time services versus monthly services. Figure out a system and a checklist that works. Once you have a process for one industry, you can apply it to others. Then you can scale because your team is doing the same thing repeatedly, so they become experts.
Similarly, learn to sell multiple things to the same person. Get really good at selling to a specific client “avatar”; then you can sell other relevant services to them. —Patch Baker, founder and CEO of Mobius Media Solutions; former U.S. Marine, with a mission to help people leave the military today and not feel abandoned tomorrowhttps://tpc.googlesyndication.com/safeframe/1-0-37/html/container.html
4. Focus on operations, belief, and leadership.
Brandon DawsonImage credit: The Oracles
First, become clear on the best way to pursue the opportunity. Then, perfect your operations with measurable, systematic processes you can replicate consistently. Understand what contributes most to your impact at a granular and macro level and maximize that in everything you do. This also requires a best-in-class team and concept or product.
Pushing yourself and others to new levels requires challenging your beliefs about how big and impactful you can be. Belief energizes you and your team to work harder and smarter. It is the catalyst to thinking, doing, and being more. Belief leads to action, which leads to results; so the higher you believe, the higher you achieve.
The “secret sauce” that allows you to grow may be difficult to transfer to others; so ensure your people are aligned and committed. Your culture must embrace personal growth and transparency. Align individual team members’ successes with your objectives. Teach them to break through their limiting beliefs so you can conquer your shared mission together. —Brandon Dawson, serial entrepreneur and co-founder and CEO of Cardone Ventures; founder and CEO of Audigy; host of “The B Dawson Show” podcast; connect with Brandon on Facebook, Instagram, and LinkedIn