How to Actually Know When to Step Into the Next Level Business Success
You're successful in your business, but you're not sure if it's time to take things up a notch.
It can be tough to know when it's the right time to make a change. You don't want to jump into something and end up regretting it later.
Here are five tips that will help you determine whether or not it's time to step up and reach for new heights. These tips are based on my own experience of making the transition from small business owner to CEO, so they come from someone who's been there before.
Do you feel a little stuck in your current level of business success? Maybe you are consistent and just simply comfortable where you are in business, but you are starting to wonder if it is time for you to begin shifting things into gear. If you are experiencing this internal conversation about your business, you should start thinking about the right questions to ask yourself.
Let’s be honest, if you’re thinking about how you can scale your business, you have experienced some level of success, and you probably have a full plate already. You have plenty of things demanding your attention which could be causing you to feel a bit overwhelmed by what you need to do first.
Questions To Start Asking Yourself
If You Want To Scale
The only constant in business is that there are NO certainties. When working with clients, we like to ask a series of questions because when we scale, we want to do it smartly and with the least amount of risk possible. The objective is to plan for all of the possible outcomes, so we all of the time and energy we put into scaling our business doesn’t go to waste.
#1 : What are the signs that it's time to take your business up a notch?
The easiest way to gain a clear picture of how the different areas in your business are doing and if you should take that next step is to rate yourself on a scale from 1 to 10. Ask yourself the following questions and rate your performance:
Can you bring clients through the door?
Do you have enough clients to be profitable?
How’s your ability to deliver your services to your clients?
Do you have a team that can support you?
How are the technology, systems, and processes that are in place?
How are your leadership skills?
We hope to see plenty of areas going well. Perfection is not the goal, and there might likely be a deficit in one or two categories. Going to the next level of success will not solve massive foundational problems in business. If that is the case, I suggest fixing those problems first.
Important to do at this point is to check in with yourself as to what you are trying to accomplish with scaling or even growing your business. Too often, business owners seek this next level of growth to solve cash flow problems.
Growth will not fix profitability.
Cash and profitability are always where we start with clients no matter how high they rank in business because it is crucial, and growth will not fix it if it’s broken.
#2 How do you know if you're ready for the challenge of a next level business success?
If I had to ability to wave a magic wand and triple everything in your business– what
would break? We want to know what parts of your business could not handle that growth because it’s a good indicator of where to shift our focus. Then, we can implement preparatory measures in those areas to support the growth.
If you closed your eyes and envisioned what that next level of success would be in your
business, does it excite you or scare you? If the next level of success does not frighten you a little bit, you are most likely not thinking big enough. Often, when I talk to business owners who are ready to take their business to the next level of success, I can identify quickly if somebody is not quite ready. I hear them say things similarly, too:
It’s too much work.
It’s too hard of a road.
I already tried this and that, so it won’t work.
Everything that comes out of their mouth is negative! If you can only find a negative phrase when discussing opportunities that are possibly on the table, you are NOT ready.
You need a positive attitude.
You are allowed to be a realist, but you also need to have belief. Your gut and intuition can be a real asset to this next stage in business. If you are resonating with this article but still feel as if you’re not ready to take the next steps– it’s time to start asking yourself what it will take for you to be ready?
If you are not evolving in business, you will likely start shrinking. That is a hard place to be in business, so we try to avoid it at all costs.
#3 What are some tips for making the transition as smooth as possible?
We all would all love guarantees in business, right? You’ll find that you have little control on what happens with growth and scalability because they are not perfect.
Growth is messy, and it will not fix your problems– it will only make them bigger.
Scalability is about maximizing, and it’s a better return, but you need both growth and scalability in business. You cannot have one without the other. It does not matter what stage or age you are in business, you’ll need to consistently flow between growth and scalability to maximize the potential of your small business.
After a period of scalability, you are likely to go into a period of growth. You can do things that make the process smoother. We want to avoid constricting so you can allow growth to come through. We can have a game plan when certain events happen. It is forward-thinking that helps growth.
At the end of the day, you know what needs to be done in your business, and you need people at your table that are as excited as you are about what you are trying to achieve. That is what will make you and your business better. Goodbye burnout, hello success.
#4 What should you do if you're not sure whether or not you're ready to make the jump?
If you have read up to this point and you are still on the fence about taking these actionable steps to scale your business, then it’s time to find a friend or mentor who has done this before. They should have the experience behind them so that they can:
Look at your situation objectively.
Understand what your goals are.
Ask you critical questions that will help you reach a decision.
Nine times out of ten people already know that they are ready to uplevel. The mentor's job is to ask the right questions that will help guide you to the right answer. At the end of the day, it is not the mentor’s job to tell you whether you are ready, but they can show you where the opportunities are and if your business is prepared for them.
They will then help you take care of your risks and fears and help you envision what that might look like for you on the other side!
Leslie Hassler is a popular author and speaker who spends much of her time coaching business owners on how to run their growing businesses by their rules. Delivering high-touch, personalized service, Leslie works with her clients as a partner, not just a consultant (who would pop in, tell you what to do, then leave).
Leslie teaches her clients a structured way to decide what to do first, second, next -- and never – in their businesses, so that they can learn to do it for themselves.
Leslie lives in Dallas with her husband and two kids, so she knows it’s not just about growing the business – it’s about getting the business ship shape so it grows and you can be home in time for dinner.
Leslie speaks on topics such as business leadership, prioritizing the business owner’s To Do list, and how to create and implement a strategic plan for growth.
If you’d like to have Leslie come speak to your group or organization, or present at your event, inquire here.