5 Things to Focus on to Scale Beyond 500k and Towards 1 Million
I think we can all agree that this past week has been wild and crazy for us all and it leaves us wondering what does the next year/years hold for our business? It can be easy to spiral and think of the worst but let's take this time and focus on what we know we can control.
I get asked so often what I would do if I wanted to scale past the 500k (revenue) mark and strive for the 1M mark. First off I want to address the most common freeze periods. Getting past the 100k mark, then the 300k mark and then the 500k mark. You will most likely hit a ceiling at all three of those ranges and you will have to reinvent the wheel and figure out what needs to change to break through.
So today, I want to focus on breaking through a specific mark. If I was trying to scale my business beyond 500k (revenue) in 2025, here are the 5 main things I would focus on.
Create a scalable business model
If you got an influx of 15-20 new clients next week, could you handle them? Do you have the team and processes to onboard them without letting things fall through the cracks? This is so important, because you could invest in ads or do a whole marketing push and get all these new clients.....only to not even be physically able to serve them. Improving your operational efficiency and productivity is such an underrated strategy!
Lean into thought leadership in your marketing
This is something that I'm personally going to be leaning heavily in for 2025. You need to position yourself as an authoritative figure that shares valuable insight throughout your personal brand AND your business brand. Believe me, we love a good funny reel and expanding your community and connecting in that way is so fun. But people also need to know that you really know what you're talking about when it comes to how you're saying you can help them.
Automate and systematize
The past year, Profit Priority has grown beyond my wildest dreams and I truly don't think we could have done it without our systems, softwares and automations. Thinking back 4 years ago and how much I know now about monetizing softwares blows my mind. But really, we have automations and softwares in place for onboarding, offboarding, marketing, sales, social media... you name it, we have it! A little hint, ClickUp is my ride or die. I couldn't do business without it.
Scale with strategic partnerships
Don't just wait for referrals to come to you. Reach out to be a guest on podcasts that your ideal clients would listen to. Network and connect with other service providers (like coaches, online business managers, etc) serving the same clients as you. This is something that I did in the first year of my business and to be honest, I've slacked on this the past year. But I'm slowly bringing this back into my weekly rhythm. Not only for the impact that it makes for my business but just the importance of having friendships with people that are going through the same things as you are!
Manage your finances wisely
You didn't think I would get through this without finances being a point did you? Lol! But for real, businesses that are surpassing 500k are not ignoring their numbers. In fact they are very aware of what is going on financially because that is where the gold is. (pun intended 😂) Track specific KPIs, pricing analyses and time audits. Create budgets and cash flow projections. You will learn so much if you just let the numbers speak to you and if you don't know how to interpret them or know how to analyze them, that's where we come in!
There's going to be ups and downs and you will feel like quitting at times (speaking from personal experience 🤦🏼♀️) but stay steady and hold the vision. With the right strategies and determination, you will get there and then if you're like me, you'll be so focused on the next goal you won't realize how far you've come. (yes, I know... my enneagram 3 self is working on this... 👀😅)
A little bonus tip for y'all.... I was looking at my personal finances last night and let me tell you.... I spent WAYYYY too much money. It wasn't that I didn't have that money, it was more so that I just neglected to look at my personal finances for most of the month because I was just busy. This lead to me just buying who knows what (tbh.... lots of Christmas decor lol). I got distracted by the here and now instead of remembering our long term goals. You don't have to restrict yourself in a budget to be able to keep the eye set on the prize. But the moral of the story here.... don't neglect looking at your spending. Because after a while, your habits will shift from long term vision to short term satisfaction.
