Growth Institute: Scaling Up Your Business The Right Way
Once you have completed setting up your business, the next challenge includes scaling your business.
When we think about scalability, it is all about capability and capacity. Suppose your company’s growth causes your business to become unstable due to confusion, miscommunication, orders falling through the cracks, insufficient employees, lack of manufacturing, etc. In that case, you will have to face many unsatisfied customers. Initially, doing all your tasks manually would make sense and be considered acceptable when your business was small – but it will not let you move faster in the professional world. You will either be putting out fires or trying your best to keep your company afloat – an incredibly stressful situation.
To scale a business, you must set an ideal stage to support its growth. Such a process requires efficient planning, funding, proper systems, processes, and partners. One of the perfect ways to do that is to look into organizations that help other businesses scale up their business, such as Growth Institute, the executive education for C-level executives.
Founded in 2011 by Daniel Marcos, Juan Gonzalez, and Verne Harnish, the company currently has over 27 full-time team members with offices in Austin, Mexico City, and Texas, including coaches and collaborators in other parts of the United States, England, Canada, Portugal, Mexico, and many more.
They have been known to use various hybrid learning methods of combining video lessons with weekly live instructions and coached implementation. Additionally, they also offer more than 140 programs and 12 Master Business Courses that cover six critical areas such as execution, culture, strategy, leadership, marketing, and sales.
As a famous company that has been received warmly by the public, here are a few tips they have shared with the public on how to scale their business effectively.
The phrase ‘leaders are readers’ couldn’t be more accurate than right now. Great leaders have one major thing in common – they have a natural curiosity and thirst for learning anything that helps them progress in their end goal. Even if you don’t have the experience, learning from books, research, articles, or even reaching out to other professionals in the field and learning from them can be a significant advantage for you.
In reality, scaling up your company will shake things up in your business so you have to be on guard to handle whatever is thrown at you. And when that does happen, you need to have the proper knowledge and expertise to handle any unexpected occurrences.
Understanding Your Niche
Knowing the ins and outs of your business is vital in ensuring the excellent growth of your company. Dominate your niche by creating differentiated strategies and setting them as your priority.
For example, think about Facebook and how Mark Zuckerberg tried relentlessly to figure out a wireless strategy. Your business needs to have an in-depth understanding of your competitive advantage over your competitors.