5 Dangers You Need to Know When Scaling or Growing Your Business

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Growing your business is hard. Scaling or accelerating growth is even harder. There are many pitfalls that entrepreneurs can fall into when trying to grow their business, and scaling it fast. To avoid them, you need to know the dangers lurking in the shadows and take preemptive measures to avoid them. Let’s be honest, there are many reasons why businesses fail. Most of them can be traced back to a single root cause: not being able to manage the growth of your business effectively enough so as not to overextend yourself and bring about your own downfall. If you’re thinking of scaling or fast growing your business soon, then read on… We all love a good challenge here at Super Scaling!

Lack of Focus on the Core Business

One of the most common pitfalls of trying to scale your business is losing focus on the core business. Entrepreneurs are natural problem-solvers. We have to be, because it’s our problem that we’re solving. So when you’re trying to scale your business, you need to be careful not to divert your attention from the core problem that you’re solving and start solving other problems. You need to stay focused, and every decision that you make and every new hire that you bring on board should be done with that in mind. Keep in mind that even if you might be venturing beyond your core business, never lose sight of the core problem that you’re solving. You need to have a clear and communicated vision of your core business, how it works, and why it matters. Also, you need to instill that vision in your employees, vendors, and investors. Only then will you be able to filter out the noise and stay focused on the important stuff.

Loss of Customer Confidence

Another common pitfall of trying to scale your business quickly is losing the confidence of your customers. When your customers trust you, they rely on you. When they rely on you, you have an obligation to meet their expectations. When you disappoint them, they look elsewhere. If you lose the confidence of your customers, they might not be forgiving. You might have to work twice as hard to win them back again. You might have to start over completely. Scaling up in a short space of time without the systems to ensure high customer confidence can be really challenging. Especially when you have to deliver on your promises to customers and vendors. And you can’t do that if your confidence wavers at the first sign of trouble.

Hiring the Wrong Talent

Another danger of trying to scale quickly is hiring the wrong talent for the wrong roles. At first glance, this might not make sense. How can you hire the wrong people for the wrong roles and scale your business quickly at the same time? The reason is this: When you try to scale your business quickly, you have to move quickly. And when you move quickly, you make mistakes. When you’re hiring, the hiring process takes time.

It takes time to source the right candidates.
It takes time to interview them.
It takes time to review their references and make sure they’re authentic.

Hiring the wrong talent at the first go is a painful process. You might have to terminate their employment later on, which is costly. Or you might have to keep them on board for months, which is an even more laborious process.

No Long-Term Vision or Roadmap

Another common pitfall of trying to scale your business quickly is not having a clear long-term vision or roadmap. This can affect you in two ways: First, you might have a hard time explaining your vision to others. Most people don’t have psychic powers (do you?). They don’t know where your business is going and why. And second, you might have a hard time keeping your team aligned with the long-term vision that you have for the business. When the going gets tough, the tough get going. When the tough get going, they have a destination in mind. They have a purpose that they’re trying to accomplish. They’re not just aimlessly wandering around, which is a great recipe for disaster. Having a clear long-term vision and a roadmap for how to get there is crucial if you’re going to scale your business quickly.

Giving Too Much Control to Your Team Without Installing Leaders

Another common pitfall of trying to scale your business quickly is giving too much control to your team without installing leaders. You can scale up your business with the right people, but if you don’t install leaders in those roles, you’ll have a hard time managing, motivating and retaining them. When you install leaders in each department, you’re not just giving them control over their own department. You’re giving them control over their people as well. You’re giving them the power to hire and fire, promote and demote, and change the workflows within their departments. When you try to scale your business quickly without installing leaders, your team will feel disjointed. They won’t know what they’re supposed to be doing. They won’t feel empowered to make the right decisions. They’ll feel like they’re working in silos and not really part of a team. This leads to fracturing of the business.

Conclusion

Scaling your business quickly is a great challenge. You need to be ready for it. But to be ready, you need to see what you have not yet seen. This is where we, at Super Scaling, come in. To be prepared for the invisible dangers that come with scaling, you have to make sure that the proper processes and systems are in place so that you can build the business forward. Sure, it may appear to be complex. But, we’ve helped people build a human capital roadmap, coached top leaders worldwide, and even established effective culture and alignment within teams, which arguably is one of the most important things you must do in order to sustain your scaled business, so that it operates independently without needing you!

Our high-caliber Super Scaling Inner Circle members benefit from decision-making experience that we advise and consult them on. This, and much more to speed up the way they create powerful and systemized processes for the purpose of scaling. Talk to us so that we can help assess what you need!

Make Growing Your Business Fun Again

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