An authority on financial literacy, an international speaker, and two times best-selling author, Marcus Blandin is a serial entrepreneur who mentors aspiring businessmen to create a positive impact on society through their innovative products and/or services.
There is one thing called “growing” a business and there is another called “scaling.” Though more often than not, growing and scaling are used interchangeably to mean the same, they are indeed not. When an innovator enters the world of founding an enterprise with the noble cause of addressing unfulfilled market demands and receiving a high return on investment, the initial few weeks tend to see linear growth. Once the product has reached its target market and the customers have reciprocated well does the company starts to see rapid growth. It is at this point that the company needs to scale. In other words, it needs to put in place a robust channel of communication, hire skilled talent, and incorporate systems and processes to sustain the growth for higher profits. Wealth-creation coach Marcus Blandin offers stellar consultancy services to budding and established entrepreneurs to help them scale their businesses manifolds using laser-sharp operation strategies and effective marketing tactics.
Key considerations to scale a business
Several smart entrepreneurs tend to miss out on some of the crucial elements in their business. Having a business plan is a crucial roadmap to learn where and how your business is headed. However, how many think of creating a business map? A business map comes in handy while onboarding new talent, reskilling existing ones, and ensuring that all your internal communication channels follow the guidelines as per the map. Such a document comes in handy to learn if your brand image is aligned with your brand identity and if not, what steps that you need to take to make sure that they do.
Most entrepreneurs make the mistake of launching a half-baked product and expect to enter the “scale” phase. This leads to high customer dissatisfaction leading to heavy investment to undo the mistakes. It is always best to incorporate customer feedback at the prototype stage when your business is still in the initial phase and has not scaled up. Once your product is rock solid, it is easier to put systems and procedures, hire new talent, and focus your attention towards new marketing strategies, some of the essential elements to scale business.
While it is true that most entrepreneurs feel proud of doing every aspect of their business from the ground up, such an attitude can get overwhelming leading to burnout. It is best to create a culture of trust and empathy where you can delegate your tasks so that you can focus on the higher-priority aspects of the business. This will also add to bring the team together and create a shared atmosphere of building a cohesive business.
An entrepreneur of all sorts
Marcus has played a key role in offering his insights to several entrepreneurs across industries. Being a serial entrepreneur and striving to make his name since the age of 8, Marcus has been a witness to all aspects of business development that makes people reach out to him for his expert advice. Marcus is the Founder and CEO of Millionaires International, FYI Business and Financial Solutions, just to name a few. Marcus is a philanthropist at heart and offers scholarships of ~$2 million to help them attend college free of cost.