My primary business goal is to help business owners become leaders and learn the proper methodology for scaling. You cannot afford to allow your company to become passive and complacent or else risk losing what you do have in the long-term because of uncontrollable factors such as market shifts, the economy, and your competition. Your business will flat-line by not taking action. This is why I am providing the following condensed “Top 12 Principles of Scaling” to help forever emblazon them in your memory (if you haven’t already done so from prior blog posts).
THE TOP 12 PRINCIPLES OF SCALING
- Don’t be afraid to fail. It’s okay to fail—and you will at some point. Then you will recover and be smarter, stronger, and more resilient than ever before.
- Passionately believe in your Big Picture Vision. Share it with your team, your customers, your partners, your friends, your family—anyone who will listen. Shut out the voices of those disbelievers. Don’t allow them to throw you off your path.
- Always focus on ways to generate sales and keep the cash flow going. There are myriad ways to generate revenue to scale your business, including Leveraging; Replicating Yourself; Hiring Forward; Upselling and Cross-Selling; Getting Customers to Buy More; Licensing; Expanding Globally; Franchising; Creating Certification Programs; and Buying Competitors. Find the ones that fit your model best and dive deeply with them on a daily basis. (Download my 17 Scalable Strategies to learn more ways that you can scale your company.)
- Invest in hiring your “A” Team. Having experts to run the weakest of your Four Quadrants will free you up to focus on where you shine most. Make sure the people on your team are in the right positions and fit your company culture. Then inspire them to accomplish great things. (Discover the Four Quadrants and what you need to put in place to create your “A” Team with my free training and download here.)
- Learn how to make quick decisions and stick to them. I hope I’ve drilled this in enough by now!
- Delegate, delegate, delegate! Get out of the way of your employees and empower them, so that your company becomes a self-managed one.
- Deal with the elephant in the room; embrace conflict to ultimately resolve it. Practice saying “no” and setting boundaries, even if they might disappoint people. Remember: “No is the new yes.”
- Create and improve systems and processes that support and drive your Big Picture Vision. Build your business through your systems—not your blood, sweat, and tears.
- Don’t work with negative people. Life is too short. Period.
- As the leader, everything bounces off you. To grow your business to 10 times its size, you need to elevate your own personal growth and leadership by 12 times, to handle all that growth.
- Get support. Stop losing opportunities and wasting time and money recreating the wheel. To reach your goals in a fraction of the time, work with mentors who have walked this path before you—and succeeded.
- Focus on creating abundance. Constant worry about your finances can wreck your business fast.
Print out these dozen principles and mount them somewhere accessible and visible on your desk. It’s okay to slip every once in a while on your scaling journey—remember, failure is Principle #1!—but these principles are there to help get you right back on track.
Voice for Business Success
Allison Maslan is the CEO of Pinnacle Global Network, The World Leader in Scaling Businesses. Her new book, Scale or Fail is a Wall Street Journal Best Seller that is endorsed by Barbara Corcoran and Daymond John of Shark Tank. Allison’s built 10 successful companies starting out at age 19. Now, she and her team of CEO Mentors pay it forward helping business owners worldwide scale their company while, at the same time, create a passionate life. Allison’s been featured in Success, Fortune, Inc, Fast Company and Forbes magazines is a regular contributor to Entrepreneur magazine and a featured expert on ABC, CBS, NBC, CNN across the US. She also hosts her weekly video podcast, Allie & You: The Business Success and Lifestyle Show.