Starting a business is hard, but growing one can be even harder. How do you set up a business to scale easily, what are the pitfalls and opportunities that you should look out for?
To get a better understanding on this, I spoke with Dr. San Ludhra who after working more than ten years in the medical field, San decided to start her own medical clinic in the heart of London.
In less than two years, she opened a second clinic, and after just four, she scaled her business internationally, opening clinics in different locations worldwide, including Dubai, and Kuala Lumpur.
San shared with me seven tips to help scale your business quickly and sustainably.
It's all about the data.
The keys building a business and achieving sustainable growth is in hard data. San often tells her clients, "the more you know, the more you can grow."
The data you need to be looking at can come from a variety of sources and often revolves around customers and potential clients, and it includes:
- How customers move through your sales funnel
- How long it takes to convert
- How long they remain a customer
- What causes them to leave/stay
- How they engage with you
- What attracts their attention
- What their pain points are
- What are the biggest issues with your product/service
- What they love about you
Understanding this data can help you convert more clients and retain them for longer, which impacts both your top and bottom-line growth.
Keep things as simple as possible
Complexity not only kills performance but did you know that as businesses grow and scale, the key dynamic that slows - or impairs - progress is the effect of complexity. Keeping your processes simple makes it easy to stay engaged with clients and helps to drive efficiency.
Ask for Help When You Need It.
Too often, entrepreneurs and business owners view asking for help as a sign of weakness, and they struggle on alone with the help they need is often just a phone call away.
But asking for help is not a sign of weakness, on the contrary, it is actually a sign of strength, a willingness to be vulnerable in front of others. And you will be surprised that when you do ask just how willing people will be to help you.
Time is your most precious commodity!
The one thing that we cannot create, and it doesn't matter how much money you make, is time. There are only 24 hours and day.
Be ruthless with it. Being able to scale and meet growth goals requires meticulous time management and prioritizing each day to use your time efficiently. The better you can manage your time, the more control you will have in managing your business.
Not only do you need to say to time thieves as mentioned above, but you also need to say No to anything that is not directly aligned with your goals. Scaling requires making tough choices. Ask yourself what functions really need performing and hire only the best, qualified and most driven people. So no to mediocrity,
You need to be firm in the goals that you have set, but flexible and adaptable in how they will be met.
Harnessing and cultivating the ability to switch quickly directions in response to the market is key to success. Go where your ideal customers are, do your research, adapt; it will pay off!
Continually Invest in yourself
Your business growth will often mirror your own growth and personal development. If you refuse to grow as a person, odds are your business will suffer.
Be coachable, seek out mentoring and join a high-end mastermind group. The latter especially will massively catapult your business to success. Accountability and peer group support any be overlooked when scaling a business!
The challenge for most entrepreneurs it's not starting a business it's scaling a business, scaling is both difficult, and you need to make sure that you grow it sustainably and to do that the more of Dr Sans tips you can adopt, the more sustainable your growth will be.