How to Scale a Business for Growth and Cash In on Time
In the early days of building your business, the struggles tend to be around cash flow and getting clients in the door. As you scale, the challenges tend to shift around time—as in, there never seems to be enough of it. Therefore, the need to manage your time and make the most of every minute becomes the priority. I have found myself daydreaming about having an eight-day week and what I could do with that extra day. But truth be told, I would just fill it up with more distractions. The key is to maximize the time we have.
Money comes and goes, but time does not. The time period from just a few minutes ago is gone. We cannot get back past moments. If you think about spending time like you spend money, you will choose wisely how you cash in every minute. Choose how you want to invest your time moving forward. How can you maximize these moments? Get clear on the purpose of how you are spending your time.
Don’t say you don’t have enough time. You have exactly the same number of hours per day that were given to Helen Keller, Louis Pasteur, Michelangelo, Mother Teresa, Leonardo da Vinci, Thomas Jefferson, and Albert Einstein. —H. Jackson Brown Jr., bestselling author
Your Day Is a Series of Investments
What do you want your return to be for the time you invest on your business and your life? If you think of getting a return for every action that you take, then you will choose your actions wisely within the time period that you have. For instance, if you spend your time writing a book, what do you want your return to be for investing that time? Would it be business growth—a sense of accomplishment? If you spend an hour at the gym, eat a healthy meal, or spend time with your children, what is your intended outcome for each of these investments? Good health? Feeling fulfilled? If you binge-watch on Netflix, what is your intended return for investing that time?
Looking at your life this way forces you to take a hard look at how you invest your time, your most valuable asset. Learning how to manage your time and inspiring your team to do the same is the underpinning of what it takes to successfully execute the final phase of the SCALEit Method.
Cashing In on Time
What would you do if you had an extra month per year? What would you do with all of that extended free time? Live in your bathing suit on the beach, write your memoir, spend more time with your friends or loved ones, learn how to play the flute, or fly on the trapeze?
I’m about to give you a gift: the ability to start accumulating your bonus month right now. Here’s how it works.
Most people waste at least two hours each day by procrastinating, falling into meaningless, time-sucking activities, working on projects that don’t move them toward their Big Picture Vision, tinkering around in social media or on the Internet, or failing to grasp the art of saying “No” and setting boundaries.
Do the math. Two hours per day multiplied by 365 days is 730 hours, which equals one month! If you become more productive two extra hours every day for one year, you will be giving yourself the gift of entrepreneurialism—a complete month off whenever you choose. As time goes on and you master the art of focus, time management, and delegation, you will be able to multiply this time off to several months per year.
What is Scaling for Growth, Exactly?
I like to think of this in terms of being able to grow your business while, at the same time, managing the expanding workload without sacrificing your level of performance, efficiency, and employee safety. In fact, if you are scaling properly, you are creating processes and workflows that improve all areas of your operation and save you a lot of time, money, and headaches. By adopting a scalable business model, you can generate huge profits without all the budgetary strains that over-burden traditional growth models.
The goal of scaling is to build a replicable system for delivering products and services that allow businesses to increase their customer base without having to increase their overhead at the same pace. The SCALEit Method® enables you to grow, replicate, and expand while building a self-managed company that you can step away from for periods of time as it continues to soar.
Are You Ready to Scale Your Business?
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- Determine which method is the right fit for your business
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Allison Maslan, CEO of Pinnacle Global Network, is the Wall Street Journal Best Selling Author of Scale or Fail, which is endorsed by Daymond John and Barbara Corcoran of Shark Tank. Allison’s built 10 successful companies starting out at age 19.
Now she and her team of CEO Mentors pay it forward by helping business owners scale their companies, fast-track their success, and create a more meaningful life. Pinnacle Global Network, a world leader in scaling companies and empowering business leaders has guided thousands of CEO's and Founders to success over the past decade. Allison’s been featured in Inc., Success, Fortune, Fast Company, and Forbes Magazines, is a regular contributor to Entrepreneur Magazine, and a featured expert on ABC, CBS, NBC, CNN, and Fox across the US. She is also the host and producer of The Scale or Fail Show podcast, and the Women Who Own it Podcast in partnership with WBENC, the largest certifier of women-owned businesses in North America.
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