Scaling Your Business To Seven+ Figures

Cashflow Diary™

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Scaling Your Business To Seven+ Figures

J. Massey

Nov 12, 2018

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Now, let's dive into today's episode...

Allison Maslan is the President of Business Coaching Agency. She was named “One of the Top Women Entrepreneurs Who Inspire” by Self Made Magazine. She is the bestselling author of Blast Off!: The Surefire Success Plan to Launch Your Dreams into Reality and the new book Scale or Fail: How to Build Your Dream Team, Explode Your Growth, and Let Your Business Soar.

Podcast Highlights

Who is Allison Maslan?

Besides being a business owner at heart, Allison is also a trapeze artist. When she discovered that you could actually do what you see in the circus, she began training with a five generation circus family and now she can really fly. She even built a trapeze ring in her backyard.

Allison grew up in an entrepreneurial family. Her father built the largest chain of women’s clothing stores in the US. Watching her dad build his dream inspired her to build her own. If you want something go create it yourself.

At the age of 19 Allison started her own business and by the age of 25 it had evolved into a full service advertising business. Like most entrepreneurs, she had no idea how to run her first business.

Getting It Right

The plan comes in the doing. When you have a product or service, you just need to put it out there. Don’t worry, be crappy.

Get it out and then perfect it along the way.

You have gifts inside of you, your purpose is to share them with the world. The idea of perfection keeps people small.

Getting Unstuck

If you are using the same mindset and strategies in scaling your business as you did when you first started your business, you are going to fail. You have to rebuild your company from a higher level.

To scale you have to take big leaps, you have to be able to stop micromanaging your team and even be willing to let yourself go.

Scaling Your Business

You will hit a wall if you are the one providing the product or service. You have to train other people to do what you do if you want to scale. Your clients just want to be taken care of and it doesn’t have to be just you.

Scaling your business really means to duplicate and multiply. There are five phases to scaling your business: the solopreneur, the pioneer, the ringleader, the co-creator, and the visionary. Each phase comes with its own set of challenges. If you want to scale, you have to build a team and be willing to let go of the controls.

Scaling can take time or it can happen as soon as three years in. Scaling can happen too fast as well, if it grows too soon it can become unstable and fall apart. The longer you can stay with a single focus, the more stable it will be for years to come.

It’s time to scale when you keep hitting the wall and are frustrated with working all the time for the same results.

Being Present

Business owners can be really hard on themselves, it’s important to recognize your accomplishments along the way. You should be enjoying the process.

Having a mentor is crucial. New level, new devil. Every time you get to a new level of business, you will face things you have never faced before.

Reference: Scale or Fail: How to Build Your Dream Team, Explode Your Growth, and Let Your Business Soar, Allison Maslan

Allison’s Takeaway

Make decisions from where you are going, not from where you are at. To really scale you have to pretend that what you want has already happened and work backwards. It’s amazing what happens when you start taking action, the people show up, the money shows up, the support shows up, but you have to be willing to take the leap.

Links:

scaleorfail.com

allisonmaslan.com

Thank you for listening! If you enjoyed this podcast, please subscribe to the show on iTunes!

READY TO FIND YOUR HIDDEN INVESTORS?

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Our AI Investor Finder transforms how you identify potential investors by: