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The Ripple Effect Scaling Can Have on Your Company

September 26, 2024 by Lisa Mininni Leave a Comment

As businesses experience early success, it’s natural for leaders to start thinking about growth and expansion. The idea of scaling—growing operations and revenue to new heights—can be enticing, especially when the company is performing well. But scaling isn’t just about riding the wave of short-term success. It requires a deeper level of preparation and infrastructure.

Becoming “scalable ready” means that a company is positioned to expand its operations and significantly increase revenue. However, many business leaders mistakenly believe that a few months of increased business and solid cash flow indicate scalability readiness.

When sales are consistently rising, it can be tempting to scale based on optimistic projections. But if those sales don’t materialize as quickly as expected, or the market takes an unexpected turn, you may find yourself burdened with more overhead than you can sustain.

Moreover, sales growth directly impacts other areas, particularly operations. For instance, a surge in sales can strain back-office processes if your systems are still manual. Attempting to scale without addressing these inefficiencies can lead to bottlenecks, missed deadlines, and frustrated customers.

One example of the ripple effect scaling can have is when a company scales up production to meet growing demand without considering its customer service capacity. The increase in orders might require additional support from customer service teams, but if they aren’t equipped to handle the higher volume, response times will suffer, and customer satisfaction will decline. This could lead to negative reviews, decreased loyalty, and ultimately, lower future sales—effectively undoing the growth you worked so hard to achieve.

Before acting on your desire to scale, it’s crucial to plan carefully. Scaling affects every area of your business, from employee relations to customer service. Without a thoughtful, integrated approach, you risk unintended consequences that could hinder long-term growth instead of supporting it.

What is one action you can take this week to work toward being scalable ready?

Invitation

To be scalable ready and get the support necessary, register for the Wake Up Profitable Master Class and/or put your application in for our Profitability Lab or Project Lab Mentoring and Coaching Programs below:

1. Wake Up Profitable – October 21-22, 2024. Walk out with your Blueprint to Scale and learn how to align your team by understanding human wiring. Learn ways to systematize for efficiency, and be coached through ways to expand your revenue streams through our live Coaching Labs done right in this master class. Registration ends Friday, October 11, 2024.
LEARN MORE AND RESERVE YOUR SPOT

2. Profitability Lab – The Profitability Lab by Excellerate Associates is a coaching and mentoring program for small business owners that want to scale and systematize their business. It’s an integrative program with practical, aligned, and actionable steps to be implemented that make a real-world difference for your company. LEARN MORE AND APPLY

3. Project Lab – The Project Lab by Excellerate Associates is a coaching and mentoring program and best suited for start ups or professionals with a project to complete within 12 months. Receive expert coaching to advance your company and your leadership. LEARN MORE

About Excellerate Associates

Our Labs are led by entrepreneurs with real-world experience running businesses and experts at leading groups. We are dedicated to ensuring you get a return on your investment and have carefully crafted our processes to ensure you have expert support in your entrepreneurial journey.

Filed Under: Blog Tagged With: business coaching, Excellerate Associates, experts in coaching

Last Day to Register for Create Your Signature Program

May 9, 2024 by Lisa Mininni Leave a Comment

A Personal Message From: Lisa Mininni, President, Excellerate Associates

I’ve been buzzing with excitement lately. We just launched this awesome radio streaming campaign for Excellerate Associates, hitting big platforms like Pandora and iHeart Radio. If you happen to catch it, let me know!

It’s got me feeling the same rush I get before leading an event. There’s something about seeing people tap into their potential and boost their brand that really fires me up.

With our Create Your Signature Program just around the corner on May 16-17, I’m inspired to see everyone carve out their own unique identity. It’s not just about crafting a brand; it’s about amplifying it in a way that’s totally unique to your company.

Over the years, we’ve worked with all kinds of businesses, from service-based to product-based companies to real estate brokers and insurance agencies. And every time, we’ve helped them discover what sets them apart, building loyalty and scalability in the process.

Whether you’re in services or products, there’s always a chance to stand out. Your brand, like your signature, should:

-Set you apart from the crowd
-Reflect how you connect with your dream clients
-Establish your presence in the market
-Open up new opportunities

If you’re feeling stuck on guiding your clients through your offerings or want to boost brand loyalty, I’d love for you to join us for the Create Your Signature Program. It’s happening May 16-17, and guess what? This Friday, May 10, is the last chance to reserve your spot.

During these two days, we’ll show you ways to turn your ideas into a concrete plan, creating a signature asset that’s truly one-of-a-kind. You’ll learn how to unite different parts of your business, diversify your income streams, and make a bigger impact with your products or services.

Ready to make your mark? Reserve your spot here: Create Your Signature Program

Additional Resources

If you’re inspired to build your distinctive products or services:

1. Can’t make May 16-17? Place yourself on our Waiting List also at https://www.excellerateassociates.com/create-your-signature-program.

2. Download our free eBook, Elevate and Expand Your Brand at http://excellerateassociates.com/elevate-and-expand-your-brand-ebook/

Filed Under: Blog Tagged With: business coaching, business mentoring, create your signature program, Excellerate Associates

The Power of Tailored Communication

July 13, 2023 by Lisa Mininni Leave a Comment

When it comes to introducing new products, delivering services, or launching a new business line, it’s important to remember that research shows change initiatives have a failure rate ranging from 50 to 70 percent. One significant factor contributing to this high failure rate is the manner in which these changes are communicated.

Effective communication can be challenging, particularly because people have different preferences for receiving information. However, by tailoring your communication to suit the recipient’s preferred style, you significantly increase the chances of your message being received and understood. Whether you’re launching a book, communicating to a prospect, presenting to an investor, or coaching your own team, delivering your communication to their preferences is key to successfully launching a new project, gaining support for a product, providing your service, or enrolling others in an idea.

The secret to effectively implement any initiative and enroll others is in paying attention to how people are naturally wired. This is an aspect that leaders often overlook, but it is essential for success. Each individual has their own innate preferences for giving and receiving information, which remain with them throughout their lifetime. By understanding and acknowledging these preferences, you can deliver information in a way that resonates with the recipient.

When information is presented in the recipient’s preferred format, it has a lasting impact. The key is to pay attention to the subtle cues individuals provide, allowing you to tailor your delivery to match their preferred style.

The format you choose to communicate your message effectively depends on your audience. For example, I once had a client who was frustrated because although she was generating leads, she struggled to close deals. Her approach involved providing a wealth of detailed information, as she believed that more information would be better.

However, this approach did not resonate with her ideal clients. Her company attracted individuals who preferred concise bullet points and wanted to hire her company to complete services they didn’t want to do themselves. As it turned out, she was overwhelming her potential clients with excessive information, simply because she had a personal preference for it. Once she began to notice the cues from those who preferred a summary sheet format, she adjusted her approach accordingly. The results were remarkable—she successfully closed 100 percent of her clients for three consecutive months by delivering information in a concise summary sheet format.

There are numerous benefits to tailoring your communication to match the recipient’s preferences.

  • If you’re writing a book, understanding human wiring helps you to keep in mind how to format your book so that readers of all preferences remain engaged.
  • If you’re leading a team, understanding human wiring promotes successful project implementation.
  • If you’re trying to sell your products or services, knowing human wiring results in increased sales closures.
  • If you’re a speaker, you can learn how to leave the audience satisfied and wanting more.

If you’re inspired to become masterful in understanding human wiring, I invite you to join us for

Wired to Win: How Are You Hardwired?

Join us online or onsite.

REGISTER HERE to get your human wiring assessment and reserve your seat for the class.

Filed Under: Blog Tagged With: business coaching, business mentoring, Excellerate Associates, Leadership Coaching, scale your business, tailored communication

9 Tips to Becoming Scalable Ready

April 13, 2023 by Lisa Mininni Leave a Comment

Becoming “scalable ready” means that a company has the capacity to grow its operations and revenue significantly. Many company leaders think that if they can get more business and they have good cash flow for a couple of months, they’re scalable ready.

When sales are continuously rising, it’s tempting to scale based on projections. However, if your anticipated sales don’t happen as quickly as you thought, the market shifts, and you don’t have enough reserves, you have just taken on more overhead.

Additionally, your sales will have an impact on operations. If you have a lot of sales but your back office operations rely on manual systems, your attempts to scale will have negative outcomes.

Before you jump on your desire to scale, remember these 9 tips:

1. Plan for scalability: Scaling requires careful planning and execution because a change in one area of your business will impact other areas. If you don’t carefully plan, you’ll be dealing with customer service and employee relations issues.

2. Build a strong foundation: A scalable company needs to have a solid foundation in terms of your company’s infrastructure, systems, and processes. This includes not only having robust and scalable IT systems, streamlined workflows, standardized operating procedures, but those processes should align with your company’s Contribution, Vision, Mission, and Values.

3. Define a scalable business model: A scalable business model is one that can accommodate growth without requiring proportional increases in resources. There are many ways to build a sustainable and scalable business model. If you’re a service-based company, you may create products. If you’re a product-based company, you may create a service. At our Wake Up Profitable Boot Camp, where we teach a systems approach to scaling, we look at the best way each company can scale but also how the scaled model will impact your operations.

For many companies, scaling doesn’t mean making a big investment either. There may be assets you’re not using or not using as well as you could that will benefit your company. One of our clients created a consulting arm from her product-based business, not only adding another income stream but increasing the lifetime value of each client.

4. Develop a compelling value proposition: A company needs to clearly articulate its value proposition to customers and differentiate itself from competitors. One way to do that is to create your Signature Asset. A signature asset is a unique model, program, process, or system that defines your approach and distinguishes you from all others that have similar products and services.

5. Focus on market validation: Validating the demand for the company’s products or services in the target market is crucial before scaling. This may involve conducting market research, piloting the business model in a smaller market, testing different marketing strategies, and refining the product-market fit.

6. Build a strong team: Having a skilled and motivated team is essential for scalability. How do you build an effective team? By understanding their innate human wiring and learning how to align their natural wiring with how you need that position executed is a game changer when scaling a business. When you understand the environment in which they best thrive, you can align people with your positions, keep them highly engaged, and increase satisfaction and productivity.

7. Be Fiscally Fit. Scaling typically requires an investment so be sure you secure adequate funding or save enough in your reserves. To be funding-ready, create solid key performance indicators that are reviewed regularly. If you can show a lender that you’re responsible in managing your numbers, they are more likely to fund your next level growth.

8. Embrace technology: Use technology to automate processes, streamline operations, and enhance customer experiences. This may include adopting cloud-based systems, data analytics, apps, and other technologies that can drive efficiency and effectiveness. These solutions also don’t have to be expensive to be effective.

9. Focus on customer success: Satisfied customers are more likely to be loyal and refer others to the company, which can fuel growth. Ensuring excellent customer service, delivering value, and building strong customer relationships can help drive customer success and support scalability. Remember to give your biggest fans an opportunity to support you, by asking them to leave a review.

By following these tips and setting up a continuous improvement culture, your company will increase its scalability readiness, and position itself for sustained growth.

Invitation

If you are inspired to learn the Entrepreneurial Edge System’s approach to scaling your business, join us for the Wake Up Profitable Boot Camp for Business Owners on April 25-26, 2023. Walk out with your Blueprint to Scale by registering today at https://www.excellerateassociates.com/wake-up-profitable-boot-camp/

 

Filed Under: Blog Tagged With: business coaching, business mentoring, Excellerate Associates

Do Your Goals Have That Inspiring Mojo?

January 19, 2023 by Lisa Mininni Leave a Comment


Inspiring others and enrolling them in something bigger is a skill. It’s a skill that every leader needs but not every leader has.

One leader that had that skill of enrolling others was Martin Luther King, Jr. He inspired millions into action with his I have a Dream speech. He enrolled others in an idea, he spoke into a future, and painted a picture with his words. He declared a future that, at the time, seemed impossible. His goals were spoken from the heart and had that inspiring mojo.

Business leaders can learn a lot from his approach. When you read your goals are you inspired by them? If you aren’t inspired by them, others won’t be either. So, what are those finer points that inspire you and others?

When developing your goals for your company, consider these tips:

1. Construct goals using declarations with future-based language.

With future-based declarations, you craft visions so that others see new possible outcomes.

2. Inspire others with vivid, tangible outcomes.

When you use tangible outcomes it creates focus. When you speak those outcomes regularly, others see and hear consistency and consistency creates trust within your company culture.

3. Align goals with a greater Contribution in the World.

When your company’s Contribution is actualized, has a ripple effect in the world. Align your goals to that contribution and watch how new opportunities emerge.

When you put the effort into setting up your goals that are aligned and inspire you and others, you start the ripple effect. You have the power to enroll others, create opportunities, and produce results that weren’t going to happen but happen because of your inspiring approach.

To craft your company’s Contribution in the World and learn more about scaling your company, join us for the Introduction to Scaling and Systematizing at https://www.ExcellerateAssociates.com/events.

Filed Under: Blog Tagged With: business coaching, business mentoring, enrolling others, Excellerate Associates, goal setting

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