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3 Steps for Scaling Your Services
You have a startup. You have the right people, the right product, and the right mindset. It’s successful by your definition but can it scale? And is it time to do so? Scaling is a delicate process. It sets the foundation for the future of your company. If you aren’t 100% sure if you are ready, stop.
Oh No! Not Another Amazing Team Member Leaving
All business is two steps forward, one step back. Whether it’s Jobs and Wozniak at Apple in the late 80’s or Paypal’s pivot to online payments; good business is done by scrappy people who just keep stepping. Today, this scrapping is found in the pursuit and retention of great talent.
The talent market is incredibly tight right now. For those who like charts, the Bureau of Labor and Statistics has it at an eye-popping low of 3.8%! With this environment, it’s an employee’s market and you are going to (in most cases) be fighting to hire and keep good talent.
Do More With Less (money, time, and employees)
I was listening to the NPR podcast How They Built It with my daughter the other day. She loves the entrepreneur story. We were listening to the specific podcast on the founding of FUBU by Daymond John who is now one of the Sharks on Shark Tank.
Daymond was recounting a time when he received his largest set of orders ever and was struggling to scale his business. In fact, his success almost unraveled his whole business. His problem: How can I scale my business without going bankrupt. His mom, who was his rock and an amazing woman by all accounts, said to him, “Daymond you don’t need just OPM (Other People’s Money), but Other People’s Manufacturing, Management, Networks, Talent, etc.”
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