Are you a CEO stuck at the 6- or 7-figure mark who wants to make a way bigger impact – but feel like no matter how hard and how much you work, you can’t seem to break through to that “next level?” Then it’s time for you to SCALE your business!
Read an excerpt from the episode launching Season 2 of the Women Who Own It podcast featuring special guest host, Patti Massey, President of MYCA:Learning interview Allison Maslan. Allison Maslan is normally your female founder host of the Women Who Own It Podcast. She is the CEO and founder of WBENC-Certified Pinnacle Global Network and a Wall Street Journal Best Selling Author of Scale or Fail. She’s built ten successful companies starting out at age 19 and founded The Pinnacle Global Network ® in 2010 to pay it forward and help business owners scale their companies and reach their dreams.
You as a business owner, have the opportunity and the capacity to change the world, and if you’re stuck, you’re limited on the impact that you can make.
– Allison Maslan
Our moment is now! This is our time; so if you are considering ‘should I really blow it up and make this business all that it can be,’ I would say, go for it. There are so many opportunities, right now, working with various corporations and just in general, supplier diversity is on the rise.– Patti Massey
Listen to the full episode:
Patti Massey: How do people know when it’s time to scale? Are there any key indicators that somebody might realize “oh now now is the time to go beyond what I can deliver or my current team can deliver”?
Allison Maslan: For a lot of business owners, you get into business and you start creating traction and and all of a sudden, you hit this wall and you can’t get over it. You keep pushing and you keep pushing and then you just kind of burnout physically and emotionally. I think a lot of times people think that with scaling, you should wait until you run out of bandwidth, but what I really feel is that you should actually scale and start planning for scaling before you even start your business. When you begin to think that way and you’ll save so much time and energy and headache and heartache.
For those of you thinking “well, is it a time for me to scale now?” I would say some of the factors would be:
There’s no time left. Your day is full from beginning to end, so that means that there’s no room to bring on more clients.
Or you’re trading time for dollars and generally you’re going to hit a ceiling of growth. From my experience once a company hits about 450K to 500K in revenue and you’re the one delivering the product or service, that that’s it, you can’t physically do more work.
Or you are doing okay, but you have a goal to really grow a much bigger enterprise, then I would definitely put scaling in part of the strategy.
Patti Massey: I know from my experience that there are different stages in scaling so, can you share with us a little bit about your thoughts around that?
Allison Maslan: At Pinnacle, we have helped thousands of business owners us to grow and scale and what we find are there are five pillars of scaling and five phases, that a business must go through. The five pillars are an acronym for SCALE, so you must have these components to scale your business.
S: Strategic business vision
C: Knowing where you’re going see is Cash flow, which is the oxygen of your business.
A: The Alliance of the team so everybody must be aligned with the vision right and have a strong company culture.
L: L is Leadership, where we’re often in our own way. We are often the culprit so it’s really how we elevate how we show up.
E: E is Execution, where we have our benchmarks, our accountability, and have all of our systems and processes in place.