Forget Scaling Your Business 10X Unless You Master 6 Things
Whether I’m working with businesses to build the teams, processes, and systems that they need to scale — and survive their growth — or I’m turning around a larger organization, six critical areas determine success. A Mind Map by Arpit Banjara
1. 4. Processes
1.1. Without a clear understanding of the right way to do everything in your business
1.1.1. you cannot delegate effectively
1.1.2. and the same mistakes repeat themselves
1.2. You and your people must create a playbook
1.2.1. that everyone can follow
1.2.2. freeing you to focus on growth
1.3. Start by carrying a piece of paper or notebook
1.3.1. with you at all times and writing down everything you do
1.4. The left side
1.4.1. includes all the epiphanies and results that move the business forward
1.5. The right side
1.5.1. has everything you never want to do again
1.6. . Keep adding to your list
1.6.1. until you can teach someone how to do everything on the left side
1.6.2. and how to avoid doing everything on the right side
1.7. Make short videos detailing how everything in the business should be done
1.7.1. from answering the phone to fulfilling an order
2. 5. Transparency
2.1. Your team also needs to understand what’s working and what isn’t
2.1.1. and how they will personally benefit when the business scales
2.2. Track all tasks and activities
2.3. At a minimum
2.3.1. hold weekly meetings where everyone reviews
2.3.1.1. where the company is and where it’s going
2.3.2. as well as their role in getting there
2.4. You can’t duplicate the right activities
2.4.1. if you aren’t constantly collecting data on what works and what doesn’t
2.5. For example, how many sales calls does a star sales performer make
2.5.1. to land 10 meetings in a week?
2.5.2. How many meetings do they need to hold to close a deal?
2.6. These are valuable metrics that can be duplicated
2.6.1. but you won’t know what they are unless you’re tracking your data
2.7. Therefore, founders need to learn to be thirsty for data
3. 6. Results
3.1. There is only one question here:
3.1.1. Are we hitting the target?
3.1.1.1. It’s a yes or no answer
3.2. Without clear targets
3.2.1. your business isn’t operating at its potential;
3.2.2. at worst, it’s failing
3.3. you cannot examine financial performance alone
3.3.1. Culture and operations are equally crucial
3.3.2. for scaling and need associated KPIs
3.4. Focus on three to five things that will move the needle in your business
3.4.1. It could be hiring the right growth-oriented people
3.4.2. or segmenting your target market to become far more specific in your messaging
3.5. Once you know what they are,
3.5.1. you can implement targets around them to take control of your business
3.5.2. and your growth
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5. 1. Alignment
5.1. For scaling strategies to work
5.1.1. everyone at all levels of your company must be aligned on your vision
5.2. In reality
5.2.1. most leaders have different conversations about what’s important
5.2.2. and what the business does, causing fatal misalignment
5.3. Ensure that everyone is pointing in the same direction
5.3.1. and working toward the same goals
6. 2. Hiring
6.1. All growing businesses face this challenge:
6.1.1. Do you hire people positionally or for the future?
6.2. When hiring positionally
6.2.1. you’re filling an immediate need with someone who holds the required skills
6.2.2. However, they might not be inspired by your vision
6.2.2.1. or have a growth mindset to solve tomorrow’s problems
6.3. If you aren’t thinking about the future when you hire
6.3.1. you’re hiring the wrong people
6.4. Test for growth-oriented individuals in your hiring process
6.4.1. ask candidates to create a presentation
6.4.2. that aligns their personal goals and aspirations with our core values
6.5. This quickly assesses if the candidate thinks expansively
7. 3. Duplication
7.1. In most businesses
7.1.1. great employees are promoted into management
7.1.2. which means they no longer do what they excel at
7.2. the business quickly becomes bloated and ineffective
7.2.1. because your most productive, innovative employees stop adding value
7.3. For this, you need “people developers” instead of managers
7.4. Once you’ve hired or promoted the best
7.4.1. they need to be duplicated
7.4.1.1. Understand why they excel, document it and develop the people below them
7.4.2. to replicate their best practices