Do you doubt if your company or idea can grow to over one million dollars in revenue, ten million, or even more? Perhaps you don’t think the type of business you are creating is “that type of business.”
If that is how you feel, you are not alone. Women entrepreneurs across the board underestimate what they can accomplish. Most of the business women I talk to need help envisioning their idea to the level of success that is possible.
How do you move from viable idea, to operating start up, to scaling for millions?
- One of the most important actions you can take when starting or running a company is to find a community of other entrepreneurs that can help you see potential you might be blind to as you work in the trenches. Start a mastermind group. Join your local Chamber of Commerce , Lion’s Club, or other business organization. Find a group of people outside your organization you can meet with regularly.
- Another important step is to find a mentor, someone who is doing something bigger and more successful than where you are that you can learn from. You might think they are too busy; however, you will be surprised how many successful people are happy to help others along their way. In fact, my experience is that most of us who are successful rarely get asked by others to help them. If someone is doing what you would like to do, than who better to ask then them how to do it?
- Lastly, take time away from running your business to dream about ways to grow it–new products, services, or completely new businesses. Make bold goals that you don’t yet know how to achieve–then double or triple them! That’s right, make the goal outrageous, not within your current trajectory. Then start to ask yourself, “What would it take for me to…?” You will be amazed at the solutions you create when you set the stage for your creative mind to solve the problem. But if you never set the bar high enough, your subconscious creative mind will never have the chance to soar!
Forbes did an article on four women who are taking their companies big. Maybe they can help inspire you to re-conceive your own possibilities. Here is a summary of their four strategies:
- Nikki Barua is taking her marketing and advertising company, BeyondCurious, larger by rethinking that service industry through the lens of technology. She says technology is allowing her to work with speed where traditional ad agencies have a slow process.
- Aneela Zaib Founder of emergiTEL took a company in the highly competitive recruiting industry to become one of the fastest growing company’s because she rethought the service her company provides to include something no one else was doing helping her stand out–testing applicants on strategic thinking skills and their ability to improve productivity.
- Claudia Mirza took her translation company, Akorbi, through a major growth by imagining all the other ways her company with its staff competent in 170 languages might serve customers. She know offers multi-lingual staffing, interpretation (telephone and in person) and other services.
- Jody Greenstone Miller created a whole new industry by matching professional people who want more flexible work while still earning high dollars with companies who are willing to hire talent on a project basis. In the past, temporary work agencies only dealt with lower positions that have transferrable skills without the need for company specific knowledge.
If you spoke to people at a cocktail party about a local ad agency, recruiting agency, translation company or professional project matching company no one would immediately think, “Now there is a million dollar idea.” These women made their ideas and companies million dollar ventures by thinking outside the box and being willing to have bold goals.
What might you be doing tomorrow with your company, if you took the boundaries off today?