READY TO BLOOM
One of my favorite things to do is to meet with a woman owner in the early stages of her business development and find that her business can be scaled. How exciting! The business has the capability of being developed in a way that it could be very large – it can be scaled to a continuously larger size. A traditional way to scale is by adding locations. Sometimes growth can be planned by licensing a product or service to others across the country. There are many ways to scale a business; that is an entire workshop; I will talk about that later.
This particular women owner has specific knowlege that is needed by large firms all over the county. She can consult with these large firms and help them to save hundreds of thousands of dollars each year. But if she is the only one consulting then she is limited to one consulting job at a time, one:one service, and she is limited in earnings to the amount she can charge for the firms she helps each year.
The excitement comes when we figure out how to scale the company, a strategic plan for growth, that is a fit with the way an owner is comfortable growing. In this case it appears to be a training program with a certification. This is the only way to have a cadre of trained professionals to provide this type of consulting for Fortune 1000 companies all over the country. We had so much fun outlining the nature of the training program, the target market for phase one of the training, and the certification process.
She can build a local consulting practice and at the same time be designing the national training program. Once accomplished the certification will provide a significant boost for her branding – she will become the consulting expert for the corporate experts. The credibility she will gain by having the certification program will carry over into her proposals for future clients.
We talked about the specific marketing plan to secure her next few local clients; that effort will bring stability and constant cash flow, and also will prepare her for the larger scaled firm, the company that will have value and can be sold one day. I can’t wait for our next meeting.
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