Scale up my business

[Mat Yani]

Hi Fastlaners,

I stumble upon MJ's book The Fastlane Millionaire around two months ago and feel really connected ad resonate with his ideas. I started 3-4 business and running my digital agency company at the moment. My mission now is to scale up and grow my business and living an UNSCRIPTED life.

After completing the first book, then I read another book UNSCRIPTED . These two books brought me a new perspective on how to approach the business and life - I wish I found this book before I took my MBA course. During my MBA, I learnt a lot about frameworks and business strategies but I found it is mostly only fit for the academic purpose - too complicated or not practical in real business life application, especially if you are a small team company. But DJ's framework and ideas fit to both world - practical and applicable in any size of your business.

I read a lot of business books and ask myself how come I didn't find MJ's books earlier. It's still surprissed me. I am confident I still can learn more from MJ's books and from great people in this forum

Need to learn a lot from anyone here especially about scaling up the business and will be very happy to share my humble thought as well in this forum. Thank you.

 

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[Mike S]

Being able to scale is a critical element of growing your business. We took several years to figure out how to scale website development but once we did, we took our company national. It's also going to be important to have a sound sales/marketing strategy once you figure out scalability. Do these and you'll rock out whatever you decide to go after.

 

[Mat Yani]

Thank you Mike for sharing your insight

What I found the biggest hurdle for scale up my business is clients quality and team members. Some clients are too demanding asking unlimited revision etc. making the project unprofitable. Another clients not paying it then we spent most of the time chasing the payment.

With the member, finding reliable team member also challenging local or overseas . I tried using staff from Upworks and some similar services as well but no luck so far.

After reading the TFM books and browsing the forum, I found pricing (monthly fee vs fixed price), team building and special (niche) in particular industry are the areas I need to work and focus on.

What's your main strategy to scaling up your business?

 

[Mike S]

Most of my experience has been as a white label provider of web-dev for digital agencies so I've got quite a bit of knowledge within this realm. Scaling here is a two pronged challenge, one being sales and the other in scaling a team(s) or services provided. I'm a firm believer in niching down thus becoming an expert in one aspect of digital marketing or addressing a niche market or specific vertical. Start locally, gain traction and expand regionally then nationally as your team grows. Sales (like content development) must be a process that can be replicated, measured, and tested. With respect to staffing a team, we've used a 1:4 approach meaning that as we grew, we'd take a top person and make them a team leader over up to 4 team members, as this grows you can use the same ratio for group leaders over team leaders with you at the top of the pyramid. We do this with designers, developers, support and project managers. The key is solid accountability to the chain of command. We've found that we have solid teams in place, pay them well, give them the flexibility they need for their personal lives as long as the work is getting done, we've been able to not spend inordinate amounts of time micro managing.

This may sound simplistic but it has worked for us!

 

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[MJ DeMarco]

Welcome Mat, congrats on having scale problems -- that means you're headed in the right direction!

 

[ZCP]

Ready Fire Aim has some good thoughts. Check out the book.