You’re a small business – nimble, agile and sized just right. Then, you win more clients, or get more orders. Great, but also challenging. How do you turn growing pains into growing gains? London-based life and leadership coach Rasheed Ogunlaru, shares the top questions that entrepreneurs who want to scale up should ask themselves.
1 What are my goals …
Whether you’re a small business or a freelancer, you need to have clear goals about what you really want to achieve from your business, says Ogunlaru.
“I’ve had countless conversations with people I coach … who are asking themselves deep questions about what they want from their lives, careers and businesses.”
There are many ways to get to a goal. Are you taking a harder route than you need to? “Ask yourself – who am I? What do I really want from my business? How hard do I want to work?”
He stresses the importance of a written plan “even if it’s just to satisfy your mind and the people involved in your business. And know that this will change constantly.”
An often neglected part of scaling your business is the psychological impact of always being switched on and the struggle to be successful when there aren’t enough hours in a week to get things done.
More and more entrepreneurs are starting to realise the importance of work-life balance and taking a break. “Put the time for you and loved ones into your diary first, or it will not happen. You need to take a break, or you will [break],” he says.
2 … and how do I get there?
It’s all in the mind – you need to have the right mindset to set those goals, and the right skills to be able to achieve them.
Many entrepreneurs will tell you that they have had to become a jack of all trades and constantly problem-solve to meet the needs of their business. Ogunlaru says: “You need to study the field and really master your craft. You’ve got to understand your customers deeply and you’ve got to have the skills that match that.”
Improving productivity as you scale up means learning new skills – anything from finding an alternative supplier at the last minute when your preferred one lets you down, to helping your employees.
“When you’re on the scale-up journey, you’re a leader. You need to gather a team with the right skills and values in order to achieve that goal. And you need to be able to inspire, empower and develop others,” says Ogunlaru.
3 How can I reach out to others?
Ogunlaru tells his clients that no entrepreneur or business can afford to be an island – you must reach out for help. “Many people underestimate the value of someone who has been there and done that. Don’t be afraid to reach out to people who might want to help you on your way,” he says.
Accelerator programmes can also really help you scale your business. For example, Ogunlaru is the life and business coach partner for the British Library’s Business and Intellectual Property Centre, which along with Arts Council England, offers a free three-month programme for creative entrepreneurs.
You’re also going to need investment, whether from your own funds and income, an angel investor or a venture capitalist.
“As a small business, you need to pick your advisers and collaborators and team really wisely and shrewdly,” he says. “Just because they can do the job doesn’t mean they’re going to stick with your values or be ideal for your customers.”
4 Do I have the right tools to grow?
“Technology is incredibly important to every business, albeit in different ways,” says Ogunlaru. “It’s also about being resourceful, so you need to ask yourself: what technology do I have and what do I need to succeed?
“Certainly, for most people on that journey of being their own boss, the first things they will need are their computer, a smartphone and a printer. For many microbusinesses, this is the core infrastructure for their business,” he says. “Those core technologies mean you have your own home office and you’re ready to go. But it’s not just about hardware or software, it’s also about support, which people often don’t think about.”
When it comes to selecting the right business laptop – it all depends on your needs. From video calls or presentations to crunching numbers or designing marketing material – it’s vital your tech is aligned to your business demands. For example, the Dell Latitude range of laptops with Intel Core processors could be a good option for hybrid workers – its vPro platform provides multi-layer, hardware-enhanced security protection, while its remote administrator access offers better security management.
Ogunlaru says he uses his laptop 11 hours a day, five days a week, so it has to be durable and able to cope. “I deliver training, workshops and coaching via my laptop. I might be doing video conferencing calls, social media. Freelancers and trainers, like me, are travelling around with their laptops remotely to work, attending meetings and delivering products and services.”
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