Creating a business that is scalable isn’t easy, but it’s necessary if you intend to grow – and grow some more. There are three simple ways to tell if you’ve created a business that is scalable.
You Have Positive Cash Flow Figured Out. You’ve successfully built a reliable month-to-month revenue stream. It’s money that you can use to invest further into your business – whether it’s to pay for additional employees, technology, systems and processes or all of the above.
Everything Has Been Delegated. Delegating is hard for many entrepreneurs. You want to have a hand in everything. But when your team keeps everything running – and everything runs even when you’re not there – you’re in a great place to scale up.
You Have More Control Over The People You Get To Work With. Basically, you can start to shape your client base. If there is someone you want to say no to (say you don’t have the full resources to fulfill their needs or they’re just not a great fit), you can move on guilt-free.
If you have these three things in place, you have the foundation to scale up safely and to create the business you’ve always wanted. Forbes, Feb. 11, 2021