As doers, taking the leap in the first place is scary. We all know that.
But scaling up? Taking the risk to compete on a global scale? That is terrifying.
Jason Toevs spoke with Meredith and Tara in Episode Four of Project Leap; imparting some of his vast knowledge around scaling up and backing yourself in a global setting.
Jason has Australia in his blood, lives and works in the US, and has made scaling up in a global marketplace into an art form.
“It’s really hard to say I’m going to take this huge risk,” he concedes.
“But whether you want to or not, whether you choose to be or not, you have to realise you are competing in a global market.
“Your potential client can go online and close the gap of distance.”
So, if you weren’t scared before, how are you feeling now?
The fact is, however, it’s true.
Whatever your business, staying blinkered with a local mindset could be cruelling your business’ potential.
Be it websites, be it law. Be it agribusiness or retail – every single one of us in business has a global competitor out there who can do it cheaper or quicker or … whatever!
From that, the questions beg: What’s your key point of difference? What is your niche? And how do you leverage off those to scale up, stay viable and grow?
“You have to play to your strengths,” Jason says.
“Ask yourself, What are your strengths and weaknesses and what do I do best?
“You also need to know exactly who your ideal or targeted customer is.
“You can’t scale what you’re walking into blind.”
Knowledge is always power, and knowing who and what you’re marketing to is vital.
But what about the business itself?
“Anytime you are talking about scaling, you are talking about amplifying your current situation.
“So if your situation is not great – if your cashflow is not what it should be, if your systems and processes aren’t in place and working well – scaling up is going to be difficult and those problems and challenges are only going to be amplified as well.”
As always, Jason stresses that it all comes back to basics.
He said making sure cash flow projects are in place, ensuring you know precisely what it is you’re offering and understanding the market are all as important in scaling (if not more so) as they are in that initial start-up.
“Put systems into place and trust your numbers.
“And love what you do.
“You cannot scale something you are not completely passionate about.”
Yes, it’s a risk. Yes, it is scary. But if you’re competing on a world scale anyway, why not make it a deliberate and strategic part of your business’ growth plan.
The old saying goes, if you can’t beat them, join them.
This is a chance to change that up a bit. By joining this thing called the global marketplace – by having the guts to step up and scale up – you’ll end up beating the competition and creating a niche and a client base which fulfils your original business modus operandi.
Jason Toevs had a great idea and ran with it. And in that, alone, he’s not that much different to the rest of us.