#62: Scaling from 7 Figures to 8 with Julie Ellis

“As you go from one to two to three million, you start stress testing the systems that you've put into place that have gotten you there,” explains Julie Ellis, author, professional speaker, leadership coach and co-founder of Mabel’s Labels. It can be a daunting process to scale your business and it does not happen overnight. As you scale more and more, there are certain changes that will need to be made, both in systems used and in the level of formality expected by your employees. Today, Julie shares her tips for successfully scaling your business.

As your business grows, it can start to feel more difficult to make decisions. This is why it is important to have strong boundaries for yourself so that you do not get caught up in a loop of over consulting or worse, stuck in decision paralysis. Although growth requires many changes to be made within an organization, particularly when it comes to systems and technology, it also opens up the possibility of hiring more people to help. While you could probably juggle multiple hats at the beginning of building your business, as you grow and scale, this will be more and more difficult to keep up with. Learning how to properly prioritize and delegate tasks is an essential part of being an effective leader.

Growing a business is hard work and Julie recommends not trying to do it all alone. Entrepreneurship can be very lonely, especially with so many people now working remote and hybrid schedules. Use the growth of your business as an opportunity to bring on employees with more experience and more clearly defined job roles who you can trust to take over certain tasks for you. This will free up time so you can focus on running your business and will also help shield you from potential burnout.

Quotes

“As you go from one to two to three million, you start stress testing the systems that you've put into place that have gotten you there.” (1:46-1:55 | Julie)
“There's a difference in how people want to be treated and in the formality that you need to have in place.” (3:20-3:26 | Julie)
“There are some things you may have to let go of and you have got to prioritize what you really need out of it so that you get the best outcome you can.” (24:39-24:45 | Julie)
“The decisions feel bigger, and when they feel bigger, they can feel harder to make.” (25:14-25:20 | Julie)
“It’s keeping that growth mindset of, there are advantages to being bigger and having struggles, because you can afford to bring people on to help you solve them.” (26:12-26:22 | Julie)
“Entrepreneurship can be so, so lonely if you don't build community for yourself.” (27:58-28:02 | Julie)

Links

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Connect with Julie Ellis

Instagram: https://www.instagram.com/thejulieellis/

Instagram: https://www.instagram.com/biggorgeousgoals/

LinkedIn: https://www.linkedin.com/in/julie-ellis/

Facebook: https://www.facebook.com/julieellisandco

Connect with Kiley

Social: @kileypeters + Linkedin.com/in/kileypeters