If you want your business to grow, at some point you’ll have to think about scaling it. Scaling it isn’t exactly the same as growing it, though they are often used interchangeably. Growth refers to adding resources and increasing your revenue in a linear fashion. You double your number of offices to double your number of customers, for example. Scaling means increasing your revenue without a substantial increase in the resources used.
The source of your income helps determine if you need more or less cash. If your income isn’t highly diversified—that is, if the majority of your income comes from one or two main clients—you’ll need to have more cash on hand.
You’ve probably heard the maxim that it’s better to work smarter than harder. Working smarter means allocating your time, energy and money so vital tasks get done more efficiently, freeing up your personal time.
