Many small businesses have trouble scaling past 6-figures. I’ve seen so many entrepreneurs frustrated with the revenue they’re generating and feeling like the hours they’re working don’t pay off.
I’ve been there. When I first started my dance and music studios, I looked very successful, making 6+ figures a year, but I was “robbing Peter to pay Paul” and feeling so overwhelmed.
Can you relate?
Are you feeling like you can’t seem to break the 6-figure barrier, you’re stuck at $100-$200K a year, covering expenses and paying employees but working all the time and approaching burnout?
- You feel overwhelmed.
- You’re worried that if you have a “down” month everything will fall apart.
- You’re still doing too much – answering emails, staffing a front desk…
Let’s talk about the real reason you’re having trouble scaling your small business
I’ve helped thousands of entrepreneurs get to the root of why they can’t break through that 6-figure threshold and it all comes down to being willing to commit to making changes.
These are the strategies I teach inside our Foot Traffic programs and many of them are also discussed in this Forbes article. (If it’s in Forbes, you know it’s solid advice).
(Side note: These are also based on my own personal experience building multiple 7-figure businesses. Addressing these 5 barriers to scaling your small business will change everything.)
5 Reasons You’re Having Trouble Scaling Your Small Business
You aren’t assessing risk
- You’re Idealist and/or overly optimistic
- As CEO’s we’re visionaries and often have an idealistic view of how we believe things will turn out. When we really evaluate the areas of our businesses that might crumble if there was a crack in the foundation, we can prepare ourselves.
- Assessment and preparation for unforeseen circumstances allows us to have a built in safety net that won’t set our progress back when we have something unexpected we need to deal with.
You need all the control
- By far one of the biggest reasons
- We see our businesses as our “babies”. Nobody can take care of our baby like we can. This is the biggest stumbling block of your growth that you need to overcome ASAP.
- Even as you delegate to team members and hire your top 3 positions (learn what those positions are HERE), there is still plenty you have control over. You’ll likely find that when others are confidently handling things, you enjoy the things that are still within your control even more.
Your mindset needs a refresh
- This is keeping you stuck.
- I bet you have the “Hard work=success mindset.” You think that constantly hustling is the only way to get where you want to go and the irony is that it’s keeping you from getting there.
- You’re likely sabotaging yourself with a fear of failure or a fear of success. Evaluating these mindset hurdles and taking conscious steps to overcome them will free you up for growth in a big way.
You are not transferring accountability to your team
- This goes with needing to have control
- If all of your systems and processes are in your head or there isn’t a clear way to access them, you can’t transfer accountability to your team even if you want to.
- Start with one system and one team member and take intentional action to properly and thoroughly train that person on that system. The more you witness your team handling things without you, the more confidence you’ll gain that they can run the show if/when they need to. (Watch this YouTube video to learn more about how to create systems in your business.)
You need more automated processes
- Funnel marketing strategy
- Once you have manual processes and systems in place you can evaluate what can be automated. Appointment scheduling, email confirmations, even sales and fulfillment can be automated.
- If you aren’t sure where to start with funnels, read this post, Different Types of Funnels and the Businesses that Should be Using Them for all the basics.
These 5 reasons why you’re having trouble scaling your small business are hands-down where you need to start making changes to shift your trajectory.
Disclaimer: They’re simple. But, if you expect it to be “easy” you’ll likely fall back into bad habits.
I would not have been able to scale if I hadn’t invested in mentorship which is why I offer mastermind programs for small business owners who are ready to take action for massive change and growth.
If you’re curious what that could look like for you, there’s never been a better time to set up a call and learn what the Foot Traffic experience is all about. Book a call here and let's get you started scaling successfully today!