Building A $10m Business – The Next Level

 

1.BUILD YOUR NETWORK

 

It’s a lot of pressure running a business , people invest a lot of money, reputation and emotional labour into growing a sustaining a business. In order to stay successful and avoid burnout successful CEOs handle the fear of failure by developing strong networks that they can rely for support. If you don’t know where to start Meetups are a great way to start building a network of like minded peers where you can start to pick up valuable insights into better ways of running your business, helping you take it to the next level.

 

“successful CEOs handle the fear of failure by developing strong networks that they can rely for support.”

 

  1. FORM A BOARD

 

Once you have established a successful business and things seem to be running smoothly many people experience a growth plateau. This is a critical stage in the life of your business you have reached a size where you have to start letting go of the control you once had over each aspect of the business and start to prioritise your time and begin to trust your team. A critical growth tip is to form a board of advisors. These are senior people who have built multi million dollar businesses in the past and can advise you on financial and strategic decisions that will help guide your business as it begins to change from a small to medium enterprise.

 

“These people can advise you on financial and strategic decisions that will help guide your business as it begins to change from a small to medium enterprise.” 

 

 

3.LEARN TO HIRE & FIRE

 

No matter what stage you are at  the fact is that the business is only as good as its people, you cannot underestimate the damage the wrong person can do to your business. Put in place structured hiring processes to make sure you find the right person someone who aligns with your companies values. If it turns out that things are not working do not be afraid to let someone go and move on. The faster you can identify what is or isn’t working the faster you will grow.

 

“find the right person someone who aligns with your companies values”

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