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Avoid Blowing Up Your Business--3 Key Mistakes Entrepreneurs Make When Scaling
Description
You hear a lot of terrible advice online these days that causes people to focus on scaling at all costs. All of that effort only leads to your business blowing up. Things break and go awry, and you’re constantly putting out fires, feeling overwhelmed and stressed at the cash-eating monster you’ve created. So let’s forgo this unsustainable approach to growth and do something different. Avoid the three biggest things I see causing problems with business scaling.
On this episode of Promote Yourself to CEO:
3:58 - The first mistake I see entrepreneurs make and how you can get yourself into this situation. No matter how much money you bring in, you feel like you can never get ahead.
6:33 - When do expensive, robust systems make sense to purchase and use in your business? Technology audits and figuring out where you’re unnecessarily spending money right now.
9:50 - Female entrepreneurs are especially susceptible to this mistake. Trying to do it all yourself vs. paying everyone but yourself.
12:12 - These specific incidences of comparison often lead to overspending. Here’s how you can spend in a way more cost-effective way.
18:04 - Mindset that contributes to the second key mistake (especially for a product that doesn’t fit your market). Test this first, instead.
26:00 - The third key mistake feeds into both of the previous ones. Dangers of having overly complicated systems in your business.
31:04 - Bringing more humanity back to business. I ditched my Frankenstein-looking system for an old program that wasn’t working and simplified it.
34:20 - Recapping all three key business mistakes.
Show Links
- The CEO Collective
- The Ultimate Business Growth Checklist
- “The Truth About Scaling Your Business” episode
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Connect with Me:
- Instagram: @racheal.cook
- TikTok: @rachealcookmba
- LinkedIn: @rachealcook
- YouTube: @the_ceo_collective
- Website: The CEO Collective
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