5 Ways to Fast-Track Your Business’s Growth

July 2, 2021 5 min read

There comes a time in your journey as an entrepreneur or leader when you hit your peak.

You’ve launched your business, mastered a handful of skills and reached goals that once felt like a long shot. To many, it may look like you’ve already made it. But to you? You’re craving what’s next and longing to push yourself further. You’re curious about the view from an even higher summit.

And that’s when you know it’s time for an upgrade. When you hit this peak, and you’re ready to elevate your career, follow these simple but empowering five steps — they’ll help you expand your business for long-term and sustainable success.

1. Hire a coach or mentor who’s done it before

With the help of a coach or mentor, you’ll learn way faster, and it’ll shorten your timeline to prosperity —big time. According to a survey from the International Coach Federation (ICF), executives and entrepreneurs who use a business coach can increase their net income by an average of 46%, and 52.4% built more self-confidence.

Those results are astounding, and they very well could be yours. But first things first: To find the right coach for you, think of what qualities or goals you want to achieve. Is it building your confidence? Learning more strategic skills? Scaling your business? Find role models who highlight their ability to help you achieve what you’re looking for — and then absorb everything you can from them.

Related: 4 Benefits of Finding a Mentor

2. Work on increasing your confidence

Your confidence and self-trust are absolutely everything when it comes to expanding your business. If you grow a company based on insecurities or the need to “prove something” to someone (even to yourself), it will constantly feel like you lack something. However, if you come from a place of power and confidence, you will create the space to succeed with little to no exhaustion. With confidence, you can create a balanced and successful business that comes from a self-assured place.

But here’s the kicker: Do not mistake arrogance for confidence. True confidence is a belief in oneself. Other than working with a coach, some ways to grow your confidence include putting yourself in uncomfortable situations to see what you’re capable of and checking out personal-development books  that help you recognize your worth.

3. Invest in a solid team

It’s easy to get overwhelmed by the thought of growing your team. However, investing in a team doesn’t have to be as hard as it seems. In fact, it can be easy. Start by focusing on the qualities that you need or want on your team. Then, find people who are really good at things that you aren’t or things you don’t like doing yourself, and invest in them.

The trick? Invest before you even have the money — because if you wait until after you have the money, your business will never grow to the heights that you need it to. I recommend finding an investor or raising money to give yourself that extra push. Plus, there is some great talent out there waiting to join your team.

Related: 10 Things Your Team Needs From Your Leadership

4. Make sure you’re getting paid your worth

Are you exhausted from your work? It’s likely because you haven’t invested in step No. 2, or you’re getting paid way too little. An essential step in expanding your business’s potential is to create an energetic minimum of what you want to receive each month or quarter. If you don’t set a minimum for yourself, you’re essentially dancing around with no solid direction. Decide your minimums and your non-negotiables, and then raise your rates if they’re too low.

Yes, when you raise your rates, your audience may change. But trust me, the right audience that can afford your services will come. Once you make this critical move, don’t look back. It may feel like you’re losing business initially, but you’re really just gaining clients that trust in you and your next-level expertise.

5. Shift and pivot — fearlessly 

Don’t be afraid to change your business model or team when things aren’t working. If you have a goal of $1 million, but you’re currently in a cycle of $100,000 a year, then there is something wrong with your business model, your energy or your connection to your audience. Many times, it’s all of the above. As a leader and CEO, I shift like the wind. When something doesn’t work in my business, I confidently shift gears or pivot completely. Sometimes these moves require staff or organizational changes.

When a staff-related shift is necessary, you must be confident and trust that it will be for the highest good of everyone involved. You can let go of people without feeling guilty or anxious; it may even serve them more than you think. Investing in a mentor or coach will help you push through these changes with double the ease.

Related: Ways Your Brand Can Pivot to Thrive in Uncertain Times

Above all else, remember this: You deserve to expand your business, and you have what it takes to stretch your potential. All it takes is that first step and the conscious choice to improve.