5 Critical Growth Steps for Scaling

There are 5 critical growth steps for scaling and I’m going to share them with you!

Evaluate, Plan, Track and Measure

You have to have a plan. What's your big audacious scary goal? For me, because I'm so impact-driven, I started with enrollment numbers. How many students do I want to serve? What is that goal for you? 

Then you have to know your KPIs - Key Performance Indicators - so that you know you are on the road to successfully hitting your goals. Lay them out with your team. That’s where the tracking and measuring comes in. It's like when you're running a marathon and there are mile markers. Those mile markers are your KPIs. That's where measure to know if you are on track to hit the finish line and reach your goal. 

Know Your Numbers

Start with revenue forecasting. What are your revenue intentions? What is your profitability? Someone asked me the other day, “You're a non-profit, so how can you be profitable?” A non-profit is still a business, my friends. If you are not profitable, whether you're a non-profit or for-profit, you’re going to be out of business if you’re not making any money. Non-profits just have to allocate their funds a little bit differently. We give our staff retirement plans, paid time off, and benefits, and they even just got a big year-end bonus. This happens because I know the numbers and we are a sustainable company. Know your numbers, and don't be afraid to charge accordingly. 

Proven Lead Generation System

You need to secure sales with a proven lead generation system. You can never be too busy to be selling. Always be selling through a proven lead generation system that you are working consistently. The fortune's in the follow-up. The cash is in the consistency of your actions.

 What you do right now is crucial to the success of your organization later. Enrollment, sales, and revenue all depend on what you are doing right now, today.  It is not something you can push off and off and off. This is where so many studio owners get into trouble because it's insanely busy right now and easy to say after recital, after nationals, after the end of the season. You got it backwards, my friend. All of this the pre-work for all those things you're making excuses about - recitals, competitions, all that should already have been done months ago as much as possible. 

Invest in Technology and Support

Stop trying to DIY your studio. You have to be willing to invest in technology and support. Get a mentor, someone who's walking the walk. If you want to scale, you can do it faster with support. I didn’t teach over 8000 students last year on my own. I had a team. Support comes in many different ways. Support comes in having the right team members in place. Support comes through investing in a mentor. I have a business coach and I am always investing in learning. I know that support is going to be what I have to invest in to get to that next level. And every time I invest, I invest in a higher level, higher investments, a different caliber of coaches. I have invested over $50,000 in coaching in the last two years. Why? Because it's critical to reaching those big, audacious, scary goals. 

Strategically Outsource

You need to have the in-house admin and there are things that we have strategically outsourced. We have VAs (Virtual Assistants), we have Online Business Managers, and we have a team who help us with content, copy creation and marketing. Those are all strategically outsourced. We outsource these roles because I want my team and myself to really work within our zone of genius. You know if something is outside of your zone of genius. You’ll be banging your head against the wall to get it done. It doesn't feel fun. What I personally know is the more fun I have, the more money I make. If I'm doing things inside my business that are not fun and not bringing me joy, I look at why. If it's not in my zone of genius or in one of my employees' zones of genius, then I look strategically outside the bubble for an expert and then I hire that person. You either need to find the right staff or you need to strategically outsource because the scalability of your business is all about capacity and capability.

The scalability of your business is all about capacity and capability. 

While most of us are jack of all trades, just because you can do it all, doesn't mean you should be doing it all. You are  meant for more.

Ask yourself this question: Will my business systems, infrastructure, and team be able to account for the growth? If you're thinking to yourself, this is an unwavering absolute no, then you need to go over these five critical steps. It’s time to fix the foundation and the systems so you're prepared for the next level in your business. It's vital.

If you know it’s time for support. You are tired of playing small. You are looking for someone who's in your exact industry, who knows this business, who's had crazy wild success, not magically, but through proven systems and planned actions, reach out to [email protected]. We'll have a conversation and see if it's a good fit.