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  The 3 Options to Expanding Capacity Beyond Yourself

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"Business Growth Fundamentals"


Course Transcript

Business Growth Fundamentals

Welcome to the business track. If you've got a small business and you're trying to grow it, here's what almost everyone has a number one problem and that is growing past your own capacity, growing past you taking care of everything. When you want to grow past capacity, there's a lot of problems. One of them could be you don't have enough sales, enough money. One of them could be you don't have enough profit. One of them could be you don't have enough support. All kind of problems could pop out. I want you, if you can, to try to break down business, even if it's just you or you and a couple of contractors, into three groups. Your business development or your growth, your business growth, your admin, and your operations.

Those are three separate pieces. You can break it up in many different ways, but for you, think of it in those three. Your admin is the day to day stuff getting done. The things like scheduling, making sure things happen, phone calls, handling vendors, stuff like that, or operations, actually delivering the part of service to your customer. Last, the actual marketing of sales aspect. Getting the customers in, getting the yes, collecting the cash. Generally speaking, we think revenue solves everything. What I need is a new sales rep. If I'm finding myself falling behind or not making the right moves, I've got to hire some people. The first thing I going to do is get more sales reps. That is almost always the wrong answer.

Almost always your answer is operations or admin. Why? Because there is a difference between revenue and profit and almost always profit is what's going to help you to pay the right people to get the right services you need. Don't look right away for getting more clients, if you're already at capacity, instead look for efficiencies. Now as a business owner, you might've come from a job. If you came from a job, right now your head is still kind of in employment mindset and that means I'm thinking if I'm active, I'm good. That mindset sticks with us. The idea of if I show up and do work, I get paid. Well, you know as a business owner now that's not the case. If you're not closing deals, you're not making money. It's not about being active, it's about efficient.

It's not about working hard, it's about working on the right things. You've got to make that shift. The people you're going to bring on or the things you're going to do are going to be more focused to get more profit to make that next step, changing your mindset from employ to entrepreneur. Now, there are three ways to make that growth. I'm going to cover those in the next video.

Access the rest of this Series:

"Business Growth Fundamentals"