Do You Have What It Takes to Scale Your Business in 2023?

Running an established business and scaling a business for growth are two very different endeavors that require different strategies and approaches.

An established business is one that has already found a successful formula for delivering products or services to its customers. It is generally stable and has a steady stream of income. The focus of an established business is often on maintaining and improving its current operations, rather than on aggressive growth.

On the other hand, scaling a business for growth involves expanding the business and increasing its revenue and profitability. This often requires making significant changes to the business model and operations, such as entering new markets, launching new products or services, or increasing production capacity.

Here are a few key differences between running an established business and scaling a business for growth:

1. Risk vs. reward: Scaling a business for growth involves taking on a higher level of risk, as the business is venturing into new areas and trying new things. While the potential reward of successful growth is great, there is also the risk of failure. On the other hand, running an established business involves a lower level of risk, as the business has already proven its model to be successful.
2. Short-term vs. long-term focus: When scaling a business for growth, the focus is often on the long-term potential of the business. This means that short-term sacrifices and investments may be necessary in order to achieve long-term success. On the other hand, the focus of an established business is often on maintaining and improving its current operations, which may involve a shorter-term focus.
3. Investment of resources: Scaling a business for growth often requires a significant investment of resources, including time, money, and human capital. This may involve hiring new employees, developing new products or services, or expanding into new markets. Running an established business, on the other hand, may not require as much investment, as the business is already operating successfully.

In conclusion, running an established business and scaling a business for growth are two distinct endeavors that require different strategies and approaches. While running an established business involves maintaining and improving current operations, scaling a business for growth involves taking on a higher level of risk in order to achieve long-term growth.