Looking to scale revenue and profit to new heights?
It's time to elevate your perspective!
While the mechanics of scaling may not be overly complex, the real challenge lies in transforming your mindset.
In this article, we'll delve into five fundamental shifts in your thought process that are essential for anyone seeking to take their business to the next level.
See your role as being a visionary leader instead of the hands-on operator of your business (refer to Michael Gerber in the E-Myth).
The initial step involves a nuanced yet transformative shift in your mindset. It commences by reframing your approach from "How can I accomplish this?" to "How can this task be accomplished?"
The second aspect involves a meticulous assessment of how you allocate your time and energy.
Have you ever considered the true value of your time?
Delegate entire spheres of responsibility to capable individuals.
Recruit individuals who excel beyond your abilities.
Empower your assistant to take the reins and act as your boss. (Yes, you read that right!)
Break free from the hub-and-spoke model of management - whereby every decision needs come from you.
There exists a time gap between your exertion and the desired outcomes, a phenomenon Seth Godin aptly dubs "The Dip".
This article draws inspiration from one of Seth's recent posts titled "How many good days?" and emphasises the importance of resolutely pushing through the dip.
Adopt this as your guiding mantra:
"The only variable to consider is the level of effort required to achieve my goal. The certainty of attaining what I desire is indisputable, non-negotiable. Through thorough planning, my victory is assured."
At various stages in your business career, you'll encounter beliefs and identity struggles that can hurt you rather than serve you and manifest in many areas.
Among the most prevalent domains where these issues surface are sales and finance.
The swiftest route to transforming these challenges lies in elevating your self-identity.
Systems are the backbone of your business, ensuring its smooth operation.
However, it's the people within those systems who give them life and drive them forward.
Your role as a leader is to guide and inspire these individuals. But the systems come first.
A 16 year old who works at McDonalds does not decide how they're going to make the burgers at the start of every shift. That 'system' has already been defined by management and above.
Like McDonalds, approximately 85% of your responsibilities are routine in nature and have the potential to be offloaded, subject to the existence of clear Standard Operating Procedures (SOPs).
The remaining 10% to 15% of your tasks will involve handling exceptions that fall outside the established systems. In such instances, your intervention becomes crucial to achieving the desired results.
Adopting a 'systems first' mindset results in asking yourself the following questions consistently:
"What adjustments are required to the system to prevent this exception from recurring?"
"What are the roles/seats required in order to operate the system(s)?"
"What people do we have or need in order to fill these pre-defined roles/seats?"
Business owners often possess a strong independent streak, which can lead them to spend considerable time grappling with challenges solo.
However, those who achieve successful scaling comprehend the significance of time-saving through timely assistance. In otherwards, they pay for speed.
In other words, they strongly consider engaging a business coach who can give them the answers without them needing to figure it all out on their own. An experienced business coach will also call out your blind spots and identify limiting beliefs holding you back.
Start the process and schedule a 15-minute introductory consultation to explore whether coaching is the right fit for you and your business. You can scheduling your call here.
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Just straight-forward analysis of your approach to marketing and sales, team-building skills, gross and net profitability, and business transfer readiness.