Are You Poised For Growth?

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Are You Poised For Growth?

Encourager-In-Chief: September 7th, 2016

Is it possible to duplicate your business?

At some point, you may want to expand your business. This could mean handling a bigger volume, selling to a much larger market, or opening additional locations. The key to success in any of these scenarios is being able to duplicate what is already working. That’s why you want to make sure you have effective systems in place.

If you have been documenting your systems, either electronically or in hardcopy, the next thing you need to do is make sure you are training your staff so they can duplicate everything needed to operate your business.

Let’s say you have a restaurant and you want to open a second restaurant. You’ll need the procedures for ordering food and supplies, seating, scheduling your staff, employing a cleaning service, hiring and training employees, and using a merchant account to process credit card orders, just to name a few. The good news is, all of these strategies can easily be duplicated from your first restaurant.

Understand that, in some cases, two different locations may require two different procedures. For example, in your first location, you may have a huge sign advertising your business. The second location may be in a more conservative area which permits limited signage and only in mandated colors and styles. As I’ve said before, one of the keys to successful entrepreneurship is learning to be adaptable.

My point is, duplicate as much as possible when it comes time to grow and tweak the differences rather than creating a new model from scratch.

If you don’t have enough time to do it right, when will you have time to do it again?
- Source unknown

This excerpt is taken from my How to Create Automatic Money Machines. I also encourage you to sign up for my Survive and Thrive II: How to Create Automatic Money Machines 1-Month Drip Program.

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