What does it really mean to scale up a business? It sounds a lot like growing, but in essence, it means growing without adding to your expenses. It may seem like a daydreamer’s idea, but the fact is that it’s actually possible. And especially with Frank Fourie’s five crucial insights, you can indeed scale up your business in 2022. Frank Fourie is an entrepreneur and coach and the founder of Millionaire Education Academy. He’s here to help everyone achieve their dreams and scale their businesses.
For Frank Fourie, a new idea is itself worth a million bucks. The question is, do you have one? He says, “A good idea can see you through like a good cash flow. All you need to do is give your customers something worth talking about!”
A bankable infrastructure
To scale up your business, it must have reached a position where it can run and sustain itself independently. Adds Frank, “Before you decide to scale up, ask yourself whether your business would continue to function smoothly if you were absent. If yes, that means you can take the chance and hop onto that yacht to Bora Bora!”
A motivated team
Every successful man considers the strength of his team as his own. But what about your team’s weaknesses? For Frank Fourie, a weak team “is the one that’s uninspired and lacks self-motivation. If you have trained them well to see value in growth, they’ll help you scale up smoothly.”
An active social media
For Frank Fourie, as for any other successful entrepreneur, “having an active social media presence allows you to keep in touch with customers directly. If that’s something you can bank on, scaling up won’t be a problem!”
A strong customer base
“If you don’t have a strong customer base, focus on building one first before thinking of scaling up. Without a large customer base, your efforts are likely to go futile,” explains Frank Fourie.
Now the question is, when is the right time to scale up? Well, it’s when you tick all of the above five criteria as mentioned by Frank Fourie. So, make sure you’re well prepared before taking the leap!