Growing a business means doing everything manually. Scaling a business is doing everything automatically without your direct input.
Good morning everyone, I hope everyone’s doing great.
This Friday morning I’m actually in Block Island with my wife and baby, and we just spent a couple days here.
Now, we’re about to head out and move on to Long Island and explore Long Island and see what that’s all about.
So, today, we’ve actually been on this boat trip for about a week now. We left on Sunday and we probably won’t be returning home until Monday.
We’ve been living on the boat, went up to Long Island and Newport for a couple days, now we’re here in Block Island and we’re just about to take off.
Today, this morning was beautiful. Will show you, so, this is overlooking the harbor. Gorgeous crisp morning.
And this is where the boat was at. This is where we spent out time and then we went into town.
Yesterday and the day before, explored the island. But, before we push off, I want to explain the difference between growing and scaling a business and those are two very different things.
A lot of times you need to grow the business in order to scale it. Or get to a point of being able to scale.
And when you’re just starting out, when you’re just starting the business, you have to do everything. And that’s what growing a business is, doing everything manually.
Scaling a business is doing everything automatically without your direct input.
So, for example, growing a business maybe doing some client work, maybe growing a business is, you got on the phone and you made a bunch of client calls to get new clients. That’s growing your business. Scaling your business is: Hey, I’m going to hire a sales team to do the sales for me, for my business so i don’t have to do it myself.
For product development, growing a business is going to be; hey, I’ve got this new idea for product let me figure out and tinker with it and, like, sort of tweak it. Scaling the business would be; hey, I’ve got a product team that constantly iterates and search for new things that would be relative to our brand and our customer base.
In marketing, I’m going to be adjusting Facebook ads and tweaking the actual marketing strategy on a daily basis in order to grow the business. But scaling is bringing in a team that does that for you automatically.
Now, the thing with growing and scaling a business, you actually have to be a little different and do things that don’t scale.
And what do I mean by that?
So, when you scale a business, you need to hand the ball off to your team member or to your team or to your contractors, whosoever working on the business to keep running with the ball, while you go and test different things that don’t scale, to see what will work for your business and what won’t. And, I like to say that, I’m going to hand this ball off and you’re going to continue playing, playing the game, I’m going to go learn a new game right now.
So, that’s what scaling is, it’s hitting the ball off, letting the team run with what’s working, let ‘em keep playing at that sport and then you go and learn a different game, that doesn’t scale, that you can then ratchet on to the existing team.
So, what are some of the challenges that you have in growing and scaling? Is it hiring? Is it being able to create systems?
I’d love to talk more about it in the comments. Drop some comments below, give me some hearts if you like this video and I’m actually going to go jump on the boat and head to Sag Harbor now so bye guys, take care