Leading business consultant Jeff Nock, from Iowa City, Iowa, reveals the best ways to successfully scale a new or existing business.
With a demonstrated history of successfully growing companies ranging from startups and nonprofits to established companies with national and international operations, Jeff Nock has spoken at length about how best to scale a business, the concept of social entrepreneurship, business plan development, and much more. Here, the leading business consultant, who’s based in Iowa City, Iowa, revisits a series of tips designed to help scale businesses of all sizes.
“When looking to scale a business, begin by first ensuring that you have a vision and mission/core focus for your company and strategies that you plan to execute to achieve that mission. Once you have thought through that it is imperative that you have a leadership team plan that scales to support your planned growth,” suggests Nock, “as a strategic plan is only as good as the leadership team that will execute that plan.”
A thoughtful staffing plan is often not considered when rolling out new and aggressive growth plans, he says, as different sets of skills and experiences are required as companies scale. “Making sure that you have the right people in the right seats from both a cultural and skillset/experience is essential to the successfully scale any business,” adds Iowa City-based Jeff Nock.
With the vision, mission, strategies, leadership team and staffing plan in place, it is still always to stay in tune with what is happening in the market. This doesn’t just mean keeping up to speed with best practices, all companies try to achieve those, but it means thinking how to define new and even better ways of doing things so as to differentiate from the competition. “Redefine ways of doing business rather than just improve the old ways,” he suggests. “The companies that define the way products or services are offered reach the peak of their industries and those that just follow best practices chase them,” says Jeff Nock. Industry leaders scale much faster than the rest of their industry. “Remember, too,” Jeff Nock continues, “that it is ok to take calculated risks and fail.”
Failing for a business owner or entrepreneur, Jeff Nock says, is how learning happens and quantum growth ultimately happens. “Most are afraid to fail and never take chances on truly solving big problems or completely changing the way things are done. Those that do, have the opportunity to break through to a whole new level,” reveals the expert.
“Mentorship from professional consultants or industry mentors to family members and friends with business experience,” he goes on, “leveraging the knowledge of those around you can sometimes be vital in successfully scaling a business.”
A graduate of Colorado’s Regis University, Jeff Nock holds a master’s degree in management and is an expert in strategic planning, business plan creation, business model ideation, market analysis, competitive niche analysis, business development, and brand evolution.
“Lastly, when looking to scale a business,” he adds, wrapping up, “remember that it is so important to take time to think strategically and get out of the day to day. Grinding day to day doesn’t allow an owner to see the big picture of where they can go.”
Jeff Nock is the founder and CEO of Prescient Consulting, LLC, based in Iowa City, Iowa. Nock and his stellar group of partners have helped over 250 companies to build and execute successful strategic and business plans. To find out more, visit https://prescient.us/.