When your business is running smoothly, you have an important decision to make: whether to sell the business or scale it up. Both options have pros and cons, and there is no right or wrong answer. It ultimately depends on your personal goals and preferences.
Growing a business is maximizing one key metric at a time, putting out fires that effort has created, and then repeating that cycle. Scaling a business is completely different — it means increasing throughput, reducing inventory, and reducing operating expenses, all simultaneously.
In other words, you need to increase net profit while simultaneously increasing return on investment while simultaneously increasing cash flow.
Scaling your business to the enterprise level may be your ambition, but to achieve it, you will need new ways of thinking, different decision-making models, and possibly a complete redesign of your organizational structure. Remember, what got you here will not get you to the next level.