Scott’s Thoughts

Scaling past $50-250K? 27 things you need to know

You’re going to love this braindump πŸ™‚
β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ β€Œ

Wanted to share some “good stuff” with you if you’re scaling your
business past multi 7-figures…

27 things to know when scaling a business past $100K/mo…

  1. Just because you made it here, doesn’t mean you’ll have the magic
    touch on everything going forward.
  2. Know what you’re good at, focus on it and hire others for the
    outcomes over everything else. Task based hires are needed, however,
    outcome-focused will give you the highest ROI.
  3. Be extremely clear on your financials and if you are ready to be in
    growth mode or profit mode and then dedicate your business based on
    which phase you are in.

Without clarity, comes the inability to properly plan and strategize.

  1. Everything in your business will come down to systems, anything that
    isn’t, will be broken. Focus on hiring people who can create amazing
    systems that create a predictable outcome or understand that building
    systems will create long-term ROI.
  2. Don’t let your 8-year-old self run the business, use therapy or forms
    of mindset evolution to get past it.
  3. It’s no longer about what YOU want, it’s about a vision, if you want
    to have customers and a team that really stick, the person who sells the
    best dreams, will win.
  4. What you will do on a daily basis, will change so much, don’t even
    attempt to try to “define” your own role, even if everyone else’s role
    will be defined.
  5. If you don’t hire a COO to manage the business and you’re a hard-core
    Entrepreneur/Creative Type, you will become stressed out, burnt out or
    will blow up the business.
  6. Your main job is to figure out how to take yourself out of business,
    create attention, see the vision, build relationships and become a
    better leader.
  7. Opportunities will be everywhere, the faster you say No, the faster
    you will grow.
  8. The more time you spend on yourself and outside of the business in a
    flow state, the faster your business will be able to grow.

A business will typically only grow to the evolutionary path of the
owner or co-founders.

  1. At this stage, things can change VERY quickly– 3 mistakes stacked
    can put you almost bankrupt. Mentorship, Advisory and having a feedback
    loop for helping the choices you make aren’t optional.
  2. Pay yourself what you’re worth and ensure you’re giving yourself
    what you want. If that’s a car, a house, an experience. You MUST have a
    reminder of why you do what you do.
  3. Build a business model that has 4 different types of offers:
    Audience Building, Intimacy, Core and Freedom (recurring)
  4. Focus on being able to increase Life-Time Value, those businesses
    who can do this, will grow much faster, it’s easier to sell to the same
    people πŸ™‚
  5. As fast as possible, extend the traffic channels and the places you
    are going to have new customers. No one traffic source should make up
    more than 30% of your revenue.
  6. Hire as many people that help you with outcomes, versus, just
    helping the outcome. These people will be expensive, however, the more
    people who “get it” on your team, the faster you can solve problems and
    move forward.
  7. You are not your business, your business is it’s own entity. This
    means, that your own values, mission and vision may not be identical.
  8. Ask yourself everyday…
  • How could I put myself out of business
  • How could the economy put myself out of business
  • What are my biggest risks
  • What am I not doing, that I need too
  • What am I doing, that I shouldn’t
  1. As you grow, your speed of getting things done will increase
    quickly… however, remember that the faster you want something done,
    the more expensive it will be.
  2. If you aren’t responsible for your emotions and patterns, they will
    be amplified 10x the more you grow your business.
  3. If you don’t focus on being a Business Owner and an Investor, you
    will eventually burn out. It’s not as much fun as being an Entrepreneur,
    however, it’s critical to the longevity of you and your businesses.
  4. You can do whatever you want, never forget that. You create your own
    reality.
  5. Building a business to sell, will always create the best business
    even if you never want to sell it.
  6. If you need to pivot, fire people, shut it down, sell it or whatever
    else you may need to do… remember, don’t let your ego lead.
  7. Momentum isn’t about moving forward, it’s about moving in the right
    direction and following your intuition
  8. Don’t let your ego take the front-seat.

Keep making things happen…
I’m beyond excited for you…
And if you need help… reach out

  • Scott

P.S. #28? Trust yourself.

Written By Scott Oldford

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