3 Things To Invest In To Scale Your Business
Scaling a business is never easy.
Especially if you started up solo. Delegating, outsourcing and overall change is without a doubt painful but is necessary for growth. There are, however, things that you can focus on now if you want to scale your business in the future. Here are our top 3 tips!
Invest in people
We are big believers in investing in people. People are tricky and will always be an unknown risk, but they are crucial to growth. To scale your business, you need to think about hiring someone in ‘the sweet spot’ time of your business. The sweet spot is when you are busy enough to afford and warrant their wage but not too busy that you do not have the time to train them and give them the support they need. This also allows you to pick the right person instead of rushing it and hiring for hiring's sake.
Things to look for in an employee if you are going to invest in them:
Their values align with yours.
Eager to grow as a person and as a company.
Invest in processes
You may have heard a lot about marginal gains in recent months, and to a certain degree, it applies to my next point: processes. Whether you are a one-(wo)man band or a rapidly growing team, I strongly suggest you invest in your processes. Setting these foundations at the start will make scaling easier. So what things should you invest in?
Ideas of processes:
A CRM (Customer Relationship Manager)
A meeting booking service - we love Calendly
Email managing software.
Invoicing and receipt management software, obviously we love Xero and Receipt Bank.
Invest time in yourself and allow yourself to grow
Yes, it may sound corny, but we are going to breeze straight past that. When you invest in yourself, you are investing in your business. Try and set time aside every month or week to focus on something that affects you or the business.
We like to do self- development Thursdays, where for one hour every Thursday we work on an aspect of ourselves and our business. This can be anything from how we can make our clients experience better to what we can change to make our lives happier and to work more efficiently. Alternatively, this could be time to work through or journal a certain thing that has come up throughout the week.
So how does this help you scale your business?
Well, this helps you to get into the habit of identifying and evaluating how you and the business are doing. Checking in like this is essential to a good growth plan. If you struggle to book time in, this could be the time that you schedule with your coach or accountant to discuss your growth plan.
We now offer a monthly subscription to help with your growth plan. This is where we help you set your monthly business goals and help guide you on the ways and steps needed to achieve them. You do not have to be a client to get this subscription. Get in touch here to find out more about our one on one growth plans.
About the author
Chloe Slade is the Marketing Manager here at Cone and focuses on creating content that brings business and lifestyle together. Chloe is keen makeup lover, foodie and loves to work from luxurous destinations.