Joining us for 021Disrupt 2020, Veqar ul Islam, CEO & Director of Jaffer Systems Limited, gave an engaging talk about the differences between growth and scale and gave us 5 power tips that he believes are required in order to build a scaling mindset.
Let’s begin with clearing up the biggest confusion: growth is incremental, whereas scaling is exponential. Growth happens due to individual brilliance, whereas scale depends on systems and processes. When your business grows, your costs grow with you. When your business scales, your costs grow incrementally, while your business and resources grow exponentially.
In order to build a mindset for scaling, you must understand the cardinal differences between growth and scale, so that you don’t confuse the two.
In order to build a scaled organization, here are 5 power tips that can help you:
- Think big. If you’re not thinking big, you’re always going to remain small. As we already know, growth is incremental – it takes you from 1 to 2 to 3. Scale, however, will take you from 1 to 10 to 100. When you let yourself think big, think scale, you’re more likely to make bigger leaps.
- Create a scaling culture; if you can’t communicate with your team to build up a strong belief in scaling, to build a mindset, value and vision around scale, chances are that you won’t be able to scale at all. After all, you can’t do it alone.
- Hire the best people. The best scaling businesses are those who intentionally populate their HR department with A-class people. In order to build a successful business, you have to ensure that the backbone of your business is filled with the best of the best. The top corporates build a culture of recruiting, grooming and producing the best, so don’t compromise your business by having a less-than-best HR team.
- Curate a business whose desire is to pursue the best policies, processes and systems. These 3 things are the backbone of an excellent business framework; if you’re good at them, then it doesn’t matter whether you’re working with a team of 10 people or 1000 people.
- The most important, yet most difficult tip is this: Learn to let go of your past and do so gracefully. If you have moved from one position of authority to a different one, then let your new replacement adjust themselves according to how they see fit, rather than constantly breathing down their neck, trying to teach them how to do things your way. As a founder, exit with grace, so that in your next venture you are able to take yourself and your team further than you did in the past.
For the full video of the talk, head to our YouTube Channel.