What's the Difference Between Growing and Scaling a Business?

I Love Bookkeeping

Is there a difference between growing and scaling a business? Co-hosts Hannah Robinson and Melissa Honan expand on this introductory episode to their scaling your business series and talk about the difference between growing and scaling a business.

• Hannah explains the difference between growing and scaling a business - and why business owners need to learn how to differentiate the two.
• Hannah asks Melissa the first action steps she took when scaling her business.
• Hannah and Melissa go through the key signs that confirm it's time to scale your business - they also acknowledge that it's okay for some business owners not to want to scale their businesses.
• Melissa breaks down the first measure business owners should implement when scaling their business - she also explains why reverse engineering your goals makes them easier to archive.
• Melissa reveals strategies business owners can use to cope with the growing pains of scaling a business.
• Melissa explains why getting rid of employees and clients who no longer serve the company is crucial to scaling a business.
• Hannah asks Melissa about the essential milestones she set out to achieve in the first few months of scaling her business.
• Melissa reveals that moving from a contractor to an employee-based model was one of the most important foundations of scaling her company.
• Hannah and Melissa agree that having a contingency plan is a brilliant business plan in case things don't work out when growing a company.
• Melissa explores the benefits of having flexible systems that can easily withstand the pressure of exponential growth, without harming the profitability and efficiency of the business.
• Hannah asks Melissa about the areas in her business that caused a lot of growing pains.
• Melissa shares the must-have processes you need to scale a business - and how great processes drive business growth.
• Melissa reveals what she did to guarantee high-quality services and outstanding customer experiences when she decided to grow her business.
• Melissa goes through strategies she used to keep her costs down when scaling her business.