Christo: Hey there and welcome back! In this video tip, I want to go through forecasting for the future with you.
So, when it comes to growing and business growth, working with lots of different business owners through our Clever Bunch program and our Genius Bunch program, helping them to grow their businesses, a common thing people would say is I‘d like to be 10 times bigger or I want to get my business to 10 million in terms of revenue. For some reason, that seems to be a kind of common figure that people want to hit in terms of business growth.
Now, what we‘ll do as a bit of a brainstorm with our business owners as they‘re growing is always looking ahead at what would happen if your business was even just 4 times the size than it is right now. Four times the volume that you‘re doing right now, what would break? So, as an exercise for you from this video, it‘s good to work through this and think about and brain dump on this question, your thoughts because you need to be ready as you grow. So you‘re already seeing it. Even if you know there‘s going to be challenges in certain areas like you might not be able to answer the phone enough because there‘s just too many inquiries. You‘re going to have to plan for that. At least have it in your head so it‘s on the radar. So, if you are doing four times the volume that you are currently doing, what are all the areas in your business that would break? So that you‘re ready and prepared for that kind of growth.
So basically, have a brainstorm. You might think about inquiries; you might think about production or manufacturing if that‘s your style of business. If you are a service business, you might think about fulfilment. Or maybe you have no more hours left in the day. Okay, you need to think about building a team or building programs where you can leverage your time better so it might be one to many versus one to one.
So thinking about if you are four times the size that you are right now, what would break and preparing for that, basically. So you don‘t break. But you thrive as you grow. This is not just on revenue because sometimes you can four times your revenue without increasing the volume of things. So keep in your mind if you are 4 times the actual sales that you are doing right now is a good place to think because there‘ll be a lot of flow on from that which will help you flush these things out.
So I‘d love to hear you, too. Maybe share what would break. Often the common response is people saying “Me, I would break.” As in, the business owner would break. So share your comments or thoughts or if you have further questions about this video, feel free to ask those anywhere on social media or here or email it through at [email protected] and we‘ll look after any of your questions. Until next time! Keep creating ripple effects of awesomeness and we‘ll see you on the next episode. Bye for now.