I promise there is no typo in the title of this blog. You read it right. In the ever-evolving world of entrepreneurship, we often hear about scaling up, expanding, and reaching new heights. Yet, we rarely talk about scaling back. Sometimes, life gets in the way, motivation lacks or in some instances, scaling back is required for growth.
In this blog, we will explore the art of scaling back from your business, highlighting how it can lead to growth and success.
Determine Why You Need to Scale Back
There are many reasons why your business might need to be on the back burner. I’ve been realizing lately that when push comes to shove, family comes first. But you’re reason could be anything. Maybe you need to realign altogether to figure it out. Are you burned out or lacking motivation? Feeling unhappy with your business?
Take a moment to reflect on your core values and your definition of success. It’s important to remember what about your business makes you happy because it’s not just about the numbers. Are you in your business for the money, the impact, or a combination of both? Once you have a clear picture of what truly brings you joy, you can steer your business towards those goals.
Know When to Ask for Help
Once you’ve figured out why you need to scale back, it’s time to handle logistics. You likely have responsibilities that need to be fulfilled regardless of your scaling back. This is the time to start asking for help.
This might involve seeking advice from mentors, collaborating with experts, or bringing in new talent. Surrounding yourself with the right people can amplify your ability to scale back while still achieving your goals. Leverage your network to ensure your business stays on track while you step back.
Implement the Right Tools
Scaling back is the perfect time to figure out what it is exactly that you need to be able to fully resume your business responsibilities. You don’t want to come back to the same environment that led you to remove yourself. Instead, you want to put the right tools in place to make your transition back into your business smooth and set you up for long-term success. Here are a few ways to make good use of your time away:
- Brain Dump: The mind can become cluttered with ideas, worries, and endless to-do lists. Get everything out of your head and onto the page, you can begin to prioritize and focus on what truly matters.
- Do a Quarterly Review – Identify your strengths and weaknesses, as well as your financial resources. Try to optimize your existing resources to enhance productivity, cut unnecessary expenses, and create a plan to move forward.
- Work with a Coach – Scaling back may feel like uncharted territory for a goal-getter. A coach can provide guidance, accountability, and an outside perspective to help your business grow.
Scaling back from your business may seem counterintuitive, but it can be the pathway to achieving lasting success. If you need to scale back, but don’t want to start the process alone, let’s set up a call to talk about how my goal accountability program can help!