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30 Minutes with Workroom Tech: Episode 75 / What Does "Scaling Your Business" Mean to You?

Updated: May 12, 2023

On this episode of The Sew Much More Podcast: 30 Minutes with Workroom Tech, Ceil DiGuglielmo and Susan Woodcock discuss business growth and the different ways that you can scale your small business.


You can listen here:


Does the term "scaling your business" scare you?


Does it feel unattainable or out of reach because of expectations to have a seven figure year, or a six figure year or even a profitable year?


Scaling can be about growth but it could mean "scaling back"

to focus on the profitable parts of your business.


Discussion topics on this episode:


Are you ready for growth?


Do you feel like you have reached the full potential of your business?


Have you created a solid foundation for growth?


What is your goal? Scaling up growth strategy examples:

  • Larger workspace / expanding or moving to a new location

  • Purchasing equipment

  • Hiring employees

  • Outsourcing

  • Adding products and services

  • Marketing and/or rebranding


Scaling back growth strategy examples:

  • Increasing efficiency

  • Raising prices

  • Eliminating less profitable products and services

  • Specialize / niche market

  • Financials - fine tune the numbers

  • Focus on core customers


A plan is essential for any growth strategy


Resources


SCORE mentors to America’s small businesses and a resource partner of the U.S. Small Business Administration, www.score.org. See this blog from SCORE about how to scale a business www.score.org/resource/blog-post/how-scale-business



The Millionaire Next Door: The Surprising Secrets of America's Wealthy by Thomas J. Stanley & William D. Danko, 1996.


Michele Williams, Scarlet Thread Consulting


Ann K. Johnson, Sew Easy Windows


The E-Myth Revisted: Why Most Small Businesses Don't Work and What to Do About It by Michael E. Gerber, 2004



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