How to scale a small business
Nomadic Fun Casino Hire started out as a one man band. I would hire one or two extra dealers, hire a van, deliver tables and entertain guests. After the event, I would put the equipment back into the van, drop them at home and return the van. Job done!
I have a feeling most small businesses start this way. People often hire from people they know and trust therefore it is necessary for most small business ventures to start with a face.
Scaling your business
Scaling your business is the process where your business has a life of it’s own. It becomes independent of you. It is the process of creating procedures that allow someone new to come in and run your business following a clear process.
If there is no difference between you and your business, it means you need to be at every event. People are hiring ‘you’ rather than your business. This naturally limits how much work you can do and it limits your growth. It also means your ability to learn is also often limited to your experience.
It also means you can’t take time off or afford to be ill. I’m sure most people become self employed so they can have more time for loved ones. You won’t have any time if you don’t learn to scale your business.
Focus on becoming teachable
I found out very quickly that we often have very limited skills when we start out. While I had strong people skills and could entertain well, I knew very little about refurbishing equipment, negotiating at a much higher level, taxes and VAT and even less about scaling my business.
Recently, I have hired a business coach to teach us how to run the business efficiently and we are focusing on building a strong team with people who can bring different skills to the table.
I read somewhere that the most successful entrepreneurs out there read a lot. You can learn so more from other peoples stories, you often don’t need to reinvent the wheel.
Ask for help
It’s good to sometimes admit that we don’t know it all and ask for help. You would be surprised to know how much help is out there if you are humble enough to seek advice from the right people.
Wisdom has to be exercised here as you can’t go rushing off to everyone for advice. This can easily expose you to people who will either mislead you innocently or take advantage of your naivety. Focus on looking for qualified mentors. They can save you so much time and many expensive mistakes.
Invest in your staff and business
They say if you pay peanuts, you get monkeys. It’s absolutely true in business. If you’re not offering the right training and the right amount of money, you most likely won’t be able to keep the best members of your team. At the end of the day, they are trying to earn enough to make a living too.
Play hard, play to win
I established a few ground rules with my wife before I became self employed. The first rule was that we would work like we had nothing to lose. We accepted that there will be many days of mistakes and learning but we would plough through anything. There was no way I was looking forward to a life of mediocrity and failure. We would have to crash and burn trying.
Thank you for taking a few minutes to read my blog. I would love to read your comments. We’re all trying to learn. Please check out our services at www.nomadic-events.co.uk to see the services we provide.
Copyright by Jimi Sotimehin. Not to be used without my permission