The Smart Way to Scale: Sustainable Growth for Your Business
Let’s talk about growth. Now? With all this uncertainty? Yes. Now.
But I’m not talking about the ‘flash in the pan’ kind of growth. No, I’m talking about the kind that sticks. If you’re leading your company, I bet you can relate to this scenario:
You land a big new customer. The phones light up. Emails and texts are flying fast and furious. Team meetings abound. Everyone is staying late. The process you thought was well-defined suddenly feels like it’s held together with duct tape.
That’s not growth. That’s chaos in a tuxedo.
Well, then, how do you scale the right way? How do you grow sustainably, without burning out your people or watching your best customers leave for a competitor? Read on and I’ll give you my blueprint.
Fix the Engine Before You Step on the Gas
1. Tighten up the process. If you’re still using spreadsheets and email to keep track of everything, it’s time to invest in the right tools that will support your workflow. Build systems that improve efficiency. Automate what’s repetitive.
2. Know the numbers. Not the ‘nice to know’ numbers. No, I’m talking about the real stuff – the metrics that define the core of your business. Customer retention. Cost of acquisition. Service response times. Track the ones that tell the truth.
3. Cover your bases. Legal, financial, and compliance. Whatever your business needs in order to stay safe and sound, take it seriously.
4. Do more than just ‘check in’ with customers. Call them. Meet with them. Often. Review what’s working and what’s not. Do more than take orders – solve problems.
Look Up, Out, and All Around
1. Specialize. At some point, you must stop being all things to everyone. I like to say that the riches are in the niches. Go deep in the one you are in. Know it inside and out. Then look for the next one, but only after you’ve mastered the first one.
2. Think beyond your backyard. Look at all available data. What is it telling you about demand and where it’s going? What markets are dwindling and which ones are emerging? Always be looking for new opportunities.
3. Diversify your service offerings. One revenue stream is fragile. And dangerous. Add complimentary services, subscriptions, consulting, digital products – whatever solves customer problems. Build resilience, not just revenue.
4. Get intentional about branding. Your brand reputation is your market currency. Tell your unique story. Invest in great content. Build a brand that attracts clients and talent.
5. Don’t forget the tech. Yes, there is a place for AI in business. The goal is NOT to turn your company into a team of robots. It’s not about replacing people, but rather, freeing them up to do what only they can do – build strong relationships.
Think Like a CEO
1. Think big. Where can you find new growth opportunities? What is your vision for the firm in three years? Five years? 20?
2. Look for acquisitions. Start small and learn the ropes. Get creative on how to do deals. You can often use the seller’s money to buy their company!
3. Create a leadership bench. Develop members of your team to be prepared to step into leadership roles. You can’t scale if everything depends on you.
4. Stay grounded in your mission. Growth just for the sake of growth is a death trap. I always tell my clients that growth is your best friend AND your worst enemy. Learn to recognize the difference.
Yes, you can grow. Fast. But the most successful companies – the ones that scale – find ways to grow that are:
Smart.
Sustainable.
Strategic.
Solid.
As a result, these companies don’t just survive the next market swing. No, they come out swinging.
If that’s the kind of growth that appeals to you, you’re already on the right path.