From the course: Entrepreneurship Foundations

Grow the business

From the course: Entrepreneurship Foundations

Grow the business

- Whether you need financial capital, human capital, or intellectual capital to grow your business, it will all be meaningless unless you find a way to get it. Knowing what you need is a great first step, but now you got to get out there and make it happen. This is the perfect time to utilize your well-crafted squad of mentors, advisors, and contacts on your social networks and to ask for their opinion on your scaling strategy. An outsider can often see things that you don't. Scaling your business is a job that requires multiple sets of eyes and experience. When trying to grow my company, I made many, many mistakes and if we'd taken our scaling plan to our mentors and advisors, they might have pointed out some key facts we were missing. Fine tuning your plan can seem tedious but it can prevent you from making some very costly mistakes like I did. Once you are set up with your plan and it's been vetted by others, ask people to help you execute, whether it's raising money, finding new team members, or shopping for new vendors. It's time to activate your network. Posting a message on LinkedIn with a clear ask for your connections is a great start. People can then share your post with friends and tag them in the comments if they're able to help. Allow that magic to happen by advertising what you need to mentors, advisors, and to your greater social networks. I know that scaling can seem slow moving and I can already hear you saying, "But Kim, now is the time to pounce. "We have to strike while the fire is hot." And I know, I can feel your excitement from here, but I promise that making sure that you're headed in the right direction with the right partners in place is going to save you money and time in the long run. There are no second chances when it comes to scaling your business. Make sure you're doing it right the first time.

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