The How of Business - How to start, run & grow a small business. - 539: Is Your Small Business Scalable?

539: Is Your Small Business Scalable?

09/23/24 • 22 min

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The How of Business - How to start, run & grow a small business.

Is your small business Scalable? How do you know if you are ready to scale, and how do you grow your business to the next level?

Show Notes Page: https://www.thehowofbusiness.com/539-is-your-business-scalable/

How and when do you plan to scale? Particularly, when will you be able to scale past just yourself?

On a previous episode of The How of Business podcast, episode 532, Henry Lopez addressed the higher-level question: Is Your Business Model Broken? How can you tell, and how do you fix it?

A strong and healthy business model supports a business that is consistently profitable, can scale and remains competitive.

Then on episode 537 Henry Lopez focused on Profitability.

This episode help you determine if Your Small Business is Scalable.

Topics include: What is Scaling? Signs Your Business is Ready to Scale. Why Should You Scale Your Small Business? Common Fears or Concerns. How Do You Scale Your Small Business?

It’s fine if you simply want to be a solopreneur. But if you want to grow a business that is completely or somewhat owner-independent, if you want to be an entrepreneur, and perhaps be able to exit your business, then you need to scale to the next level.

This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com

Is your small business Scalable? How do you know if you are ready to scale, and how do you grow your business to the next level?

Show Notes Page: https://www.thehowofbusiness.com/539-is-your-business-scalable/

How and when do you plan to scale? Particularly, when will you be able to scale past just yourself?

On a previous episode of The How of Business podcast, episode 532, Henry Lopez addressed the higher-level question: Is Your Business Model Broken? How can you tell, and how do you fix it?

A strong and healthy business model supports a business that is consistently profitable, can scale and remains competitive.

Then on episode 537 Henry Lopez focused on Profitability.

This episode help you determine if Your Small Business is Scalable.

Topics include: What is Scaling? Signs Your Business is Ready to Scale. Why Should You Scale Your Small Business? Common Fears or Concerns. How Do You Scale Your Small Business?

Previous Episode

538: Five Pillars of Leadership with Brian Gottlieb

The Five Pillars of Leadership to help you lead a high-performing small business, with Brian Gottlieb.

Show Notes Page: https://www.thehowofbusiness.com/538-brian-gottlieb-5-leadership-pillars/

Brian shares his entrepreneurial journey and introduces the five foundational pillars of leadership.

Executing on these five leadership pillars allows you to develop a high-performing organization. And help your managers get out of crisis mode so they can effectively lead their teams.

Brian Gottlieb is an inspirational business leader who in 2009, founded Tundraland Home Improvements on a plastic folding table with $3,000.

Twelve years later, when he sold the family of businesses he created, they had diversified products, expanded across multiple states, grown to 600 employees, and neared $1 billion in lifetime sales. The company was recognized by INC 5000 as one of the fastest-growing companies in America.

Brian’s leadership principles are simple: Have a well-defined strategy, empower your teams, provide world-class training, and execute with consistency.

He believes that if you want to build a business, you must commit to building people. This clarity of focus created a meaningful culture, making his company the best place to work in his home state.

Brian’s book “Beyond the Hammer: A Fresh Approach to Leadership, Culture, and Building High Performance Teams” is being published by Forbes and will be available September 10, 2024.

Next Episode

R239: Small Business Success Requires Personal Sacrifice

Achieving small business success requires personal sacrifice. What are you willing to sacrifice to launch and grow your small business?

Show Notes Page: https://www.thehowofbusiness.com/r239-personal-sacrifice/

This is a re-release of Episode 239 of The How of Business podcast with additional new content and edits.

Outline of this episode on the personal sacrifices required to achieve small business success:

Definition and Meaning of Sacrifice: Henry Lopez, host of The How of Business podcast, defines "sacrifice" in the context of small business success: Sacrifice is defined as the destruction or surrender of something for the sake of something else. Henry Lopez emphasizes that sacrifice is essential for small business success, particularly when launching a new business.

Willingness to Make Sacrifices: A major obstacle to business success is the lack of willingness to make necessary sacrifices. Aspiring small business owners often struggle with giving up their current lifestyle, free time, or comfort in pursuit of their business dreams.

Examples of Sacrifices: Sacrifices might include giving up hobbies, free time, sleep, and even time with friends and family. Henry explains that launching and growing a business often requires significant dedication and effort, sometimes at the expense of personal life.

Financial Sacrifices: Aspiring business owners must have their personal finances in order to start and sustain a business. Henry highlights the importance of reducing debt, improving credit scores, and being financially prepared to go without a paycheck during the early stages of business start-up.

Actionable Advice: Henry encourages listeners to list 2-5 specific things they are willing to sacrifice and allocate the time saved toward starting or building their business. He stresses the importance of being honest with oneself and remaining focused on these sacrifices to achieve long-term business goals.

Sacrifice - what are you willing to personally sacrifice to become your own boss and start your first business? If you are already in business, what are you willing to sacrifice further to grow it? On this episode of the top-rated podcast for small business, Henry Lopez shares his thoughts on the kind of sacrifices that, based on his entrepreneurship experience, you must be willing to make in order to succeed as a small business owner - particularly when launching your first business.

The questions to ask yourself include:

What are you willing to sacrifice to realize your dreams of becoming your own boss?

Are you willing to sacrifice your quality of life today for something more in the future?

Are you willing to give up hobbies, free time, family time and friend time all to devote to your business?

Are you willing to work harder than you ever have at something?