Have you ever experienced a growth plateau in your business?
It's a common struggle when scaling from multi-6 to multi-7 figures and can be incredibly frustrating when it feels like no matter what you do or how hard you work, you stay stuck right where you are.
It can also lead to burnout from continuously working harder and harder for the same or diminishing results.
Although plateaus are common, the good news is that they don't need to keep you stuck. You can move through them quickly when you have the right strategies in place, or they can be avoided entirely.
In this episode of the Lean Out Your Business Podcast, I break down the 6 common plateau points many businesses experience and the necessary strategies to overcome them including:
- The 6 common growth plateaus between multi-6 & multi-7 figures
- What causes plateaus and how to avoid or break through them
- Key strategic shifts needed for ongoing scalable growth
- Why you need SPSTI to avoid and minimize plateaus as you scale
Tune into Episode 167 of the Lean Out Your Business Podcast or keep reading below.
Have you ever felt like your business hits a roadblock just when you're gaining momentum?
Well, you're not alone. There are six common plateau points that businesses often face on their scaling journey. These plateaus typically occur at revenue milestones of...
- $250,000 to $300,00
- $500,000-
- $750,000 to $800,000
- $1.2 to $1.3 million
- $3 million
- $5 million
The Impact of Plateaus
When a business hits a growth plateau, it can be a frustrating and daunting experience. Strategies that worked in the earlier stages of growth may no longer yield the same results, leading to a cycle of working harder without seeing a corresponding increase in outcomes. Oftentimes, businesses resort to reactive and unsustainable measures, such as increased marketing spend or hiring more staff without a clear plan, resulting in decreased profit margins and further operational challenges.
The SPSTI Framework
The SPSTI framework, which consists of Strategy, Planning, Systems, Team, and Insight, are the core elements for navigating growth plateaus and achieving scalable business growth.
Each of these elements plays a crucial role in ensuring that a business can evolve and adapt as it progresses through different revenue stages.
1. Strategy
Effective strategy involves aligning the business model and suite of offers with the overarching vision and financial targets. It requires clarity and focus on scalable offerings that can support the business's growth trajectory. Businesses often struggle with strategy when transitioning from the early stages of growth to the multi 6-figure mark, which highlights the need for intentional and strategic planning of offerings and business models.
2. Planning
Planning encompasses the coordination of activities to market, sell, and deliver offers that are pivotal for driving business growth. As businesses move beyond the initial stages of growth, solid planning practices become essential in minimizing inefficiencies, optimizing resource allocation, and ensuring the timely execution of initiatives. Without effective planning, businesses can incur unnecessary costs and struggle with the timely implementation of crucial projects.
3. Systems
A well-designed and streamlined system is essential for ensuring consistency and efficiency in delivering results. Systems help in stabilizing and standardizing operations, ultimately leading to predictability and improved decision-making. For businesses at the plateau stage, the lack of robust systems can contribute to revenue fluctuations and hinder sustainable growth.
4. Team
Building a high-performing team that can support business operations and that deliver exceptional client experiences is crucial for scaling. At each revenue milestone, the composition and capabilities of the team need to evolve, from hiring the right support at the multi 6-figure mark to more specialized roles like the Strategy and Operations Leader as the business scales further. Without the right team composition, businesses may face challenges in sustaining growth and meeting evolving client demands.
5. Insight
Insight involves measuring and analyzing key performance indicators to guide strategic decision-making. Having the ability to gather valuable insights from the business's performance ensures that resources are focused on high-value activities and areas driving results. Businesses that lack a data-driven approach and fail to derive actionable insights may struggle with allocating resources effectively and adapting to changing market dynamics.
Navigating growth plateaus is a shared challenge for many businesses scaling through the multi 6 to multi 7-figure stages. Understanding the potential plateaus and being proactive in addressing the underlying challenges is key to sustainable growth and long-term success.
If you are ready to work through what is holding you back and continue to uplevel, consider joining our Simplify to Scale mentorship program. Implement the strategies, systems, and team that will allow you to shift your focus to what matters most to you.
Visit leanoutmethod.com/scale to learn more and start your journey today.
by Crista Grasso
Crista Grasso is the go-to strategic planning expert for leading global businesses and online entrepreneurs when they want to scale. Known as the "Business Optimizer", Crista has the ability to quickly cut through noise and focus on optimizing the core things that will make the biggest impact to scale a business simply and sustainably. She specializes in helping businesses gain clarity on the most important things that will drive maximum value for their clients and maximum profits for their business. She is the creator of the Lean Out Method, 90 Day Lean Out Planner, and host of the Lean Out Your Business Podcast.
