Why do so many businesses fail when trying to scale? Because it’s really hard. You need a range of different skill sets as you grow and scale.
Here is what you need to do:
- Fix your margins: understand your real margins and your actual business model. Make sure this is at least > 10%
- Solve the Cash Crunch: keep on top of your aged receivables, and payables. Forecast ahead and make sure you have enough cash as you grow.
- Build Real Value: Think like a business buyer, what would they want to purchase? This takes a shit in mindset and the founder must be able to step away whilst the business continues to run.
