The biggest winners in business are those who can distinguish between growing their business and scaling their business. I would be very curious to hear your definition right now, but that’s not how this all works. But a lot of you don’t think there is a difference and those who do, may have it a little twisted, especially if you run a service-centric business.
I know I had it extremely twisted for a long time. I thought more was more and that all roads and graphs pointed up once I reached my first million in annual revenue. But service-based businesses don’t work that way because they rely on human effort and expertise, neither of which are what we call scalable.
So are service-centric businesses doomed to low profitability or is there a way to successfully scale? That’s what we are talking about today. And to help me is Veronica Kirin, a serialprepreneur who sold her tech company in order to teach small business owners the 10-hour workweek. She is also the author of the award-winning anthropology book “Stories of Elders”. She has been named a Forbes NEXT 1,000, Entrepreneur and BEQ's 40 LGBTQ Leaders Under 40, and has spoken at two TEDx events.
This week we cover:
1. What’s the difference between growing and scaling a service-centric company?
2. When should we be thinking about scaling our business?
3. What are the first steps we should take in scaling our business?