In this episode, Robert talks about the concept of Scale. It can be one of the biggest roadblocks or accelerators for your business, depending on how you use it.
Robert tells us that in order to avoid multi-level consequences, we should consider scale. We hear his philosophy on evaluating downside versus upside risk, and he tells us how to determine whether an activity is scalable or not.
When we spend time thinking about scalability, we are more able to see the long-term potential of a strategy, and therefore give us more confidence to move forward – “if you don’t have this confidence, you’re really throwing darts at the board."
How do you evaluate and consider scale? Robert elaborates on this with an example, we learn the difficulty of scaling a time-for-dollar business, and he gives us some solutions.
The process really is to test and identify problems, try to mitigate those problems, consider the upside and downside, and make a decision to either keep or throw out the idea. Systemization of your tactics and strategies will save you at that point.
Highlights
