How to Scale Your Business in 4 easy Steps
Satish Bakhda
Serial entrepreneur and investor in private equity, venture capital, roll ups, and asset-backed lending.
When you start a business, your ultimate goal is to build it into a thriving company that makes millions of dollars every year – right? But the key problem most entrepreneurs face is getting their business to generate the first $100,000. It is easy to start a business, but turning that business into a successful venture is another story. The reason most entrepreneurs fail to grow their business is that they do not understand that entrepreneurship is a process. A process is a series of actions that align together to produce an end result. As a business owner, your sole focus should be on perfecting the growth process. If not, your business will never be able to establish a strong foundation.
You will find that most entrepreneurs focus on maintaining, rather than growing. They want to make just enough to cover the operating costs and have a little money left to put into their personal bank account. This type of mind-set stifles growth because it makes you avoid taking risks and forgo taking on challenges that pull you out of your comfort zone. But the only way your business will grow is by you stretching yourself beyond the confines of mediocrity.
We have put together 4 steps that will help you scale your business and grow your venture beyond its current operations.
1) Make growth the goal
2) Build a team around you
3) Be open to collaborations
4) Identify your strengths
Learn in detail about each step here