Five Ways To Scale Your Business For The Modern Entrepreneur
Ingrid Vanderveldt (iV) is the Chairman and CEO of Empowering a Billion Women (EBW), EBW Cares Distributors & Vanderveldt Global Investments
As a CEO and founder of a successful and ever-growing business, I am constantly being asked what tips I could give others to scale their own companies. Sitting down in reflection, I began to think of the most effective advice that I could give to encourage those who are trying to scale their business and bring forward more success. A few of these tips I was fortunate enough to be given when I was first starting out, and I am happy to be able to share them with you today.
Find a mentor.
Mentors are invaluable. Having the right mentor can mean gaining insight, encouragement and advice gleaned from the direct experience of others. Having the right mentor can also help you increase your social and professional confidence, as well as feel more empowered to make the decisions that will develop your communication, personal skills and business growth. Your mentor can offer you guidance on developing strategies and help you identify goals to keep you on track — all while offering you valuable insight as you begin to scale and grow.
Surround yourself with positive people, and lift one another up.
They say you are a reflection of the five people closest to you. This is so true. Your time is your most valuable asset. Don’t waste it around people who are negative and who are a drain. It’s important to have people in your life who understand the drive and passion you have to have in order to achieve your goals. With positive and like-minded thinkers, you have the support needed to be held accountable, the inspiration to think outside the box and the encouragement to continue to grind as you scale your business. Bonus: You can do the same for them.
Get comfortable with being uncomfortable.
Growth comes with being uncomfortable. Life happens. You will be thrown curveballs, and things will sometimes have to fall apart in order to fall into place. Change can bring uncomfortable, unsettling feelings along with it. But I believe only when you are uncomfortable are you put in a position where you have no choice but to push through, and this is when the magic happens. This is the time when you will see all of which you are capable. Comfort zones, while they are just that — comfortable — are not as conducive to transformative growth. Embrace the uncomfortable feeling while you scale your business and you will see all the resilience and determination you have in order to succeed.
Keep clear and concise records.
I cannot stress this enough: You need to keep track of everything. Having clear and concise records lends itself to put things in order and grow a successful business in all aspects, including bookkeeping, tax preparation and financial audits. It also helps when you’re doing things like filing for grants or certifications, which can greatly help your business. While you are scaling, keeping clear and concise records will allow you to keep track of growth and stay organized in all aspects if anything is to come up. (And I promise you something will come up.)
Have faith in yourself.
This might just be the most important. You need to have faith in yourself and in your mission. You are taking this journey because it is something you believe in, and you need to believe in yourself as well. You are capable of great things. Have faith in your abilities, skills and passions when you take the jump into entrepreneurship. Scaling your business ties directly into having the self-confidence needed to grow. Take control of your thoughts and feelings to reach your peak state and to lead your business to success. I suggest spending quiet time each day rooting yourself in your purpose, vision and mission through meditation and journaling.
In conclusion, scaling your business is no easy feat. It takes confidence, a community and clarity in communication. I invite you to join me in the much-needed conversation that revolves around how we can come together to support those scaling and growing their small businesses.