Imagine this: you start a business by yourself, in your garage (or your bedroom, or your living room). You work tirelessly, day and night, to get your business off the ground. Finally, after months (or years) of hard work, you start to see some traction. Your business is growing, and you’re starting to bring on some help. Congratulations! You’ve gone from being a solopreneur to being a business owner with a team. But now what? How do you take your small business and turn it into a thriving empire?
When you first start out as a solopreneur, it can be hard to imagine ever growing your business beyond yourself. But with the right mindset and some careful planning, it is definitely possible to take your business from a one-person operation to a full-fledged empire. Here’s how.
First Things First: Define Your Why
Before you can start scaling your business, you need to define your why—your purpose for being in business in the first place. What drives you? What are you passionate about? Why did you start your business in the first place? Your answers to these questions will be the foundation upon which you build your empire.
Next, You Need a Solid Business Plan
Now that you know why you’re in business, it’s time to put together a solid business plan. The first thing you need to do if you want to scale your business is to have a plan for growth. This means setting realistic goals for yourself and your team, and mapping out a path for how you’re going to achieve them. Trying to grow too fast without a solid plan in place is a recipe for disaster, so make sure you take the time to map out your growth strategy before taking any major steps.
It doesn’t have to be anything fancy; just something that outlines your long-term goals and how you plan on achieving them. Once you have a plan in place, it will be much easier to start taking steps towards scaling your business.
Know When to Delegate
As a solopreneur, you’re used to wearing many hats and doing everything yourself. But as your business grows, you’ll quickly realize that you can’t do everything on your own. One of the best things you can do for your business is learn when to delegate tasks to others. It could be the case that you look at procuring support like managed IT services or marketing, or growing your team. This will free up your time so that you can focus on more important tasks, like growing your business. Not sure how to delegate? Start by making a list of all the tasks you need to do each day. Then, prioritize those tasks by importance. Anything that isn’t mission-critical can be delegated to someone else.
Start Building Better Processes
One of the keys to scaling any businesses is having well-defined processes in place. As your business grows, it will become increasingly difficult to manage everything yourself; at some point, you’ll need to delegate tasks and responsibilities to others. Having a clear process for each task will make it much easier for others to jump in and help out—and it will free up your time so that you can focus on other aspects of growing your empire.
Invest in Marketing and Advertising
Another important step towards scaling your business is investing in marketing and advertising. This doesn’t mean that you need to spend tons of money on ads; there are plenty of cost-effective (and even free) marketing strategies that can help you reach a wider audience. The important thing is that you’re intentional about getting your name out there and promoting your brand.
If you want your business to grow, you need to generate more leads. And the best way to do that is by investing in marketing and advertising. There are endless ways to market your business, so figure out what works best for you and put some money into promoting your brand. The more people know about your company, the more likely they are to use your products or services.
Build a Strong Team
As your business grows, you’re going to need help. That’s why it’s so important to build a strong team of talented individuals who share your vision for the company. As the leader of the team, it’s up to you to set the tone and culture of the organization, so make sure you surround yourself with people who will help you achieve your goals.
When it comes to hiring, think about the kinds of people that you need around you. From here, it’ll be much easier for you then to bring in people that will allow your business to go. Just make sure that you have a solid interviewing and hiring process, to ensure that you onboard the best people properly.
Set Some Big Goals—And Then Crush Them
Last but not least, one of the best ways to show that your business is ready for growth is by setting and achieving some big goals. Think big—really big. And then put together a plan for making those goals a reality. Not only will accomplishing those goals give you a boost of confidence, but it will also show potential investors and customers that you mean business.
Finally, remember that no plan is set in stone. As your business grows and changes, so too should your plans. Be flexible and willing to change course if necessary. The conditions in which you started might not be ideal as you start to scale, so don’t be afraid to pivot if needed. The most important thing is that you remain creative and adaptable as your business grows.
Scaling Your Business: Final Thoughts
Growing your business from a solopreneur operation into a full-fledged empire doesn’t have to be daunting. With careful planning and execution, it is definitely achievable. Just remember to have a solid plan in place, build a strong team of talented individuals, invest in marketing and advertising, and be willing to change course when necessary. If you can do all of those things, there’s no limit to how far you can take your business!