Growing a business to over $5 million in revenue is possible, but it requires solving key problems at each stage of growth. In this episode of Influence By Design, business growth strategist Michael Wark shares his 3-step framework for scaling a profitable and sustainable business.
Samantha and Michael talk about the distinct challenges faced at each revenue milestone — cracking $1 million, $5 million, and beyond. They talk about the bottlenecks including the founder being overworked, lacking financial visibility into the business’ true profitability, underpriced offers, and not investing in growth.
Michael emphasizes the need for systematized processes and an effective leadership team during the earlier stages of the business. Once these are firmly in place, you can then shift to building business value. This means preparing for exit or acquisition by taking on a more strategic stance in your business and planning for continuity.
While growth presents unique hurdles at each stage, it all comes down to self-awareness and solving the right problems at the right time. Join us for this enlightening episode as we break through the barriers that may be holding your business back from achieving its full potential.
For full show notes and links - https://samanthariley.global/podcast/547
