- April 5, 2018 -

When I ran my mortgage business, I had three shops in three different states.

It was a lot to manage, but I was young and hungry and had the right people in place to make scaling possible.

Fast forward 20 years...and we've started two new businesses in the last ten years.

I'm old(er),have less hair and am just as hungry...and scaling is a royal pain in the ass.

Think you'll never be in a position where you have to start over? Think again, my friend...

+ Booms and busts in the economy are no respecter of businesses.

We just talked to two clients in the past week who are in a world of hurt, both because of the economy - one who is facing Chapter 11. We're helping both restructure.

I watched my mortgage business die a slow and painful death. No resuscitation could bring it back to life.

+ Business relationships aren't always trustworthy.

I can't even recall (probably because I've blocked it out) the number of venture partners Cheryl and I have worked with that haven't worked out.

The partners we've been working with now for several years are the literal salt of the earth. There is a mutual respect and work ethic that can't easily be found or replaced.

+ Personal issues can wreak havoc.

Divorce, lawsuits, bad credit, catastrophic health issues...the list goes on and if you're past the age of 35, you've got a load of baggage that come with life.

My point is...

Change is inevitable. Growth is optional.

So if you want to grow, scaling at some point isn't an option.

The headaches that come with scaling are real...

+ There's health insurance.

Try hiring someone while looking them in the eye and telling them the job is part-time...or full-time but without benefits. There are ways to deal with this if you're smart.

+ There's the IRS.

Damned government and taxes. Forms, forms, and more forms. That's why you have an accountant - God bless my CPA Frank!

+ Payroll has to be made.

Profit margins start to go down as expenses go up. If you're like me, writing those checks at the end of the month is physically painful lol

Bottom line, the journey to scaling is painful...but possible.

Picture trekking through a jungle that leads to a dirt road that finally turns into a three-lane highway.

Your life will get harder before it gets easier.

More is added to your plate before tasks are taken off your plate.

Geez, Art...thanks for nothing, Debbie Downer.

Show me. Don't tell me.

I don't sugar coat and spit out platitudes. You know me by now...giving you a bunch of b.s. is a waste of your time and mine.

My goal with these daily emails is to be transparent...being a business owner is not always easy. Some days it sucks.

And I refuse to act like I have my sh*t together 24-7.

But there is no "high" like it in the world...and I have learned a thing or two 🙂

Here are the two questions you have to ask yourself when deciding whether "to scale or not to scale."

1. Does your current way of running your business fit with the lifestyle you want for yourself and your family?Most of us became entrepreneurs because we wanted time freedom. Or are you feeling more like a stressed out employee that can't be replaced?
2. Are you set up to handle growth? If you can't fulfill when the sales start coming in, you've got a whole new set of problems.

Need another set of eyes and ears to talk through your situation with you? Next step is set up a free consult with us.
 
Talk later,

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