Ron Gottlieb knows all about scaling up a small business from scratch.
He founded Ricky Richards with his family back in 1983 and helped grow it into the successful business it is today.
Here are Ron’s three handy tips on how to expand a small business, based on his own lived experience:
One: Be self-aware
No one’s good at everything, so it’s important to understand your own strengths and weaknesses.
What are your talents, and what tasks can other people do better than you?
Two: Don’t be afraid to delegate
You won’t be able to do everything yourself and that’s perfectly fine!
Find people who are good at what you’re bad at (or even just people who are better than you at certain things) to support you along the way.
Three: Build a strong team
Unfortunately, building a solid team means making tough decisions.
Those who served your business well at the start may not be the best fit as your business expands.
Don’t be afraid to let people go who are no longer helping your business thrive!
It won’t be easy, but narrowing down the best team for your business will only strengthen it.
Every business is unique and there are always things you can only learn from experience, but these tips should guide you in the right direction!