As a business owner or entrepreneur, your outward focus and initial target is to scale your activity from its current level of operation to one much greater and more expansive.
Whether your goal is to expand into a force that is here to stay or to be acquired for a hefty price tag, you must first become enough of a going concern to accomplish either.
What actions are taken by the successful men and women who end up reaching this lofty perch and how did they overcome the inertia that stops most early on?
What It Costs To NOT Scale
We can’t afford that right now.
Once we are cash-flow positive, we can review it again.
We can upgrade after we begin turning a profit.
— A Guy You’ve Never Heard Of
These are not quotes from Elon Musk, Bill Gates or any titan of industry.
You can do your own research to verify this but both of the above mentioned individuals and many of their ilk went or nearly went bankrupt during their initial thrust toward glory.
Why did they succeed?
Well, there are probably a lot of reasons. The most obvious, you might say, was that they were masters of innovation and designed products no one else had the vision to even consider.
While there is merit to this, there also might be some additional factors being overlooked.
The specific aspect we are focusing on in this article is the willingness to INVEST in technology and the benefits of doing so.
How To Weigh the Benefits
When deciding whether or not you should upgrade or invest in technology concerning your business, you must weigh the benefits.
By taking a dispassionate approach and strictly reviewing the raw numbers and future projections of your activity, you can get an idea of where your business will be in one year, five years and ten years.
If you are happy with the rate things are going and where you will be in ten years, by all means, change nothing. But if you see that after ten years at the current clip you will hardly beat inflation, then you might want to consider doing something — FAST.
Or maybe you see that after ten years you will only be double or five times your size when your goal is to be fifty or a thousand times bigger.
The key point you must consider is does it make sense to spend the money NOW (money that might difficult for you to currently spend) to invest in your future.
If your goal is expansion, that answer will most likely be YES.
This is the turning point where many businesses and individuals fail. They see that it would probably make sense to invest in software that would automate their business but instead continue trying to run things with spreadsheets and sticky notes in order to conserve available resources.
To reach the stars, you first have to begin operating in a way that warrants you being at that level.
Scale Your Business Using Connections by MindCloud
At MindCloud, our mission is to solve complex problems with simple solutions in order to help automate and scale your business. We use proprietary software to get this done and to date have helped businesses across the globe expand to higher levels.
Contact us today to find out how we can do the same for you.