There comes a time when you have to grow your business to be bigger and better. What signs should you watch out for? Each business is unique and there may not be a secret formula to knowing when to up a level. It can be through goal setting to push their limits and continuous improvement as they compete against themselves (or with others). There are various ways one can level up their business.
Here's what entrepreneurs have to say about the right time to level up a business.
#1- When you feel equal with your stiffest competition
The most urgent sign you should level up your business is when you feel on par with your stiffest competition. If you are on par, you won't be for long: either they will level up, or you will so be one step ahead. Sitting in comfort won't expand your business, but always striving to outdo the competition and offer your customers a premium experience will! Another sign is when you have favorable conditions to develop further – adequate funds and human resources, and there are no particular red flags and adversity on the horizon.
Thanks to Volodymyr Shchegel, Clario!
#2- When customers become increasingly vocal in their requests
A definitive sign that it is time to level up your business is when your customers become obviously and increasingly vocal in their requests for new products and services. We have all been there- a customer asks oh, do you offer X? and we have to say sorry, not yet. When you find yourself saying sorry, not yet often, it is time to level up. Offer that service or product while your existing customers still want it! I did this myself at The Southern Bank.
Thanks to Gates Little, altLine Sobanco!
#3- Once the product-market fit is attained
I would say a business should really go into an aggressive level-up mode, once the product-market fit is attained and the company has decided and fixed a business model. A product market fit means some customers are regularly using your service as it provides value to them – be it in terms of tangibles such as money and time saved, or unmeasurable factors such as enjoyment or relaxation. These customers love your offering, and are also talking about it positively to other potential customers and thus running a referral network.
Thanks to Saurabh Jindal, WacRun!
#4- Crushing one's prior bests
When you find that you have made your first goals too feasible by the level you have set, that is the moment to scale your business, in my opinion. Startups typically lack sufficient historical information on which to base objective projections of future events, revenues, timelines, and expenses. A business owner might use data from other sources to predict what future objectives accordingly. Create ambitious targets, then map out a strategy for maximizing your resources as you grow.
Thanks to Robert Warner, VirtualValley!
#5- When you feel prepared to do so
I believe the best time to expand your company is when you feel prepared to do so. Just though profits are up this season or you have a reliable team doesn't mean you should take any chances with your company or its future. It's crucial to remember that it's impossible to reach a lofty objective after having already achieved a few less ambitious ones. Although there is no such thing as a risk-free business, reducing dangers to a manageable level ought to be done first.
Thanks to Gerrid Smith, Joy Organics!
#6- You're consistently producing money
It makes sense to level it up if you're consistently producing money with your business. Profitable companies are in a great position to grow, so take advantage of this opportunity to learn about the most recent technologies and services for expanding enterprises. If you want to expand your business, you need to accept automation. Automated solutions reduce labor-intensive tasks like data entry and data management. If you've been making consistent profits, it's time to think about investing in automation tools that will allow you to scale effectively.
Thanks to Maria Ivanova, Mastermaid!
#7- When the market/competition changes
It is time to up your game when the market/competition changes, your customers expect/demand more or you see an opportunity to pivot/expand. Chances are if you have an idea and feel it is time to shake things up or it has been a while since you did anything new it is time to at least explore through market research to see if the timing is right. Ask your target audience for feedback. Let the data guide you. Test, listen, and learn for the best results.
Thanks to Paige Arnof-Fenn, Mavens & Moguls!
#8- When I feel I’m doing the bulk of the work
While there might be other indicators, for me the time to level up is when I feel I’m doing the bulk of the work. The decision to scale a firm should be carefully considered before being implemented. I might have a few helpers, but if I’m still solely responsible for the revenue, it’s time to grow. You’re moving to a supervisory role when you delegate or outsource processes. From that point, the success of your business depends on your ability to hire and manage your team.
Thanks to Adam Hempenstall, Better Proposals!
#9- When I feel like I have hit a plateau in my business model
When I felt like I had hit a plateau in my business model, I decided to take a close look at my business and see where I could level up. I realized that I needed to make some changes to move forward and continue growing. started by making a list of areas where I felt I could improve, and then I took action on those areas. I also spoke with other business owners and professionals to get their input on where they thought I could level up my business.
Thanks to Will Cannon, Uplead!
#10- If your business is dependent on you
In the business, if your business is dependent on you, then you need to level up. You might have a few helpers to help you with the work, but you are solely responsible for the increased revenue. When the work is too much for you, you can always outsource it to people and reduce the burden on you. It will also help you to achieve targets in less time and increase business growth. Once you start to delegate your work, your success will depend on how well you do in the hiring process and manage your employees.
Thanks to Hilda Wong, Content Dog!
#11- Whether the current level of business is sustainable
One key factor to consider is whether the current level of business is sustainable in the long term. If the answer is no, then it may be necessary to level up to continue growing and expanding. Additionally, it may be necessary to level up if the business is not reaching its full potential. This could be due to a variety of factors, such as a lack of resources or a limited customer base. Another key factor to consider is competition. If the competition is starting to level up, it may be necessary to do the same to stay ahead.
Thanks to Farzad Rashidi, Respona!
#12- When you no longer feel an energetic capacity
When you no longer feel an energetic capacity to be able to serve clients who take more than what you agreed to give, this calls for an up-level in your business and it's time to maybe have a look at serving an avatar of a higher caliber. When you desire to serve a client more aligned with your growth, it is also another sign that it's time for an expansion in your business. As you grow and continue to work on yourself, so do the things you can provide as someone who shows u
Thanks to Shamina Taylor, Shamina Taylor!
#13- The moment you establish your business’s core values
It's the right time to level up the moment you establish your business’s core values. Strong company culture is built on values and ideals that act as the foundation for what the business stands for. Businesses with strong core values generally provide better opportunities and environments for employees to flourish. They also tend to gain support due to their trustworthiness and ability to provide consumers with tremendous value.
Thanks to Andrew Chen, Videeo!
#14- When you are getting comfortable
You know it is time to level up your business when you are getting comfortable and complacent. If everything is going well and you seem to be encountering no problems, this is a sign that you are stagnating. You should always be overcoming obstacles and fixing issues. If you are not, it shows that you are not pushing yourself and your business. When all of these factors are present, it's usually an indication that the time is right to level up your business.
Thanks to Calvin Willis, Moo Soft!
#15- When extra hands are needed
When you need additional employees to fully deploy the services you provide and recognize that your company has reached a point where it can afford to do so, you know it's time to move your company to the next level. When a company expands its client base, its service area, and its income, it is said to be doing well. Due to this expansion, more staff members will be needed to guarantee the adequate servicing of these essential functions. Keep in mind that if you don't, your company's standards will suffer as a result.
Thanks to Sam Underwood, Bingo Card Creator!
#16- When you are ready to invest more
The right time to level up your business is when you are ready to invest more in your business and you have a plan in place. It is important to understand your business and its strengths and weaknesses. It is also important to understand the market and your competitors. It is important to have a plan in place before you take the next step. I believe the right time to level up your business is when you're ready to take the next step.
Thanks to Krittin Kalra, Writecream!
#17- When I get nervous
I know when it is the right time to level up my business, is when I get nervous. When I have trouble sleeping at night because I am thinking of my business. That's when I know, I need to gear up, and double down on what is working for me. I am getting these feelings of nervousness because I know I need to do something to improve my business, the only way to cure this is to level up and get some results. Finding the ideal point between what you're doing and what you want to accomplish is the key to growth.
Thanks to Beau Crabill, OptionScout!
#18- When your existing customers are entirely happy
A growing number of happy customers is a sign of a successful business. The perfect moment to level up your business is when your existing customers are entirely happy with your service or product, and you need additional customers for future growth in your organization. This client's growth requires hiring more staff to cover each area perfectly. Remember that failing to do so might affect your sales and profit. If you see this sign, you must take urgent action.
Thanks to Theo Scott, Stream Hunter!
#19- When you have a strong sense of where you're going
The right time to level up your business is when you have a strong sense of where you're going, why you're doing it, and how to get there. It's not always easy to know when it's the right time to level up your business. But if you can answer these three questions—what are my goals for the next few years? What do I need to achieve those goals? What resources do I have at my disposal?—you'll be able to make a much more informed decision about what kind of growth trajectory makes sense for you.
Thanks to Jaanus Põder, Envoice!
#20- If your business gives you enough motivation
If your business gives you enough money, joy, and motivation, it's the right time to level up your business. Every step of expanding a business requires financial investment, whether big or small. it's a good sign that your business is ready to level up. This means that you have a solid customer base and generate consistent revenue. If you want to increase your area of operation or invest in another headquarters, you will need to invest in infrastructure and equipment and hire personnel.
Thanks to Shaun Martin, Cash For Houses!
#21- When you feel your business seems stuck
Your business may reach a point when it feels like it hit the pause button – not going bankrupt, but not really growing either. When you find the business in this state, it’s time to seek new growth opportunities: explore new markets, collaborate with other businesses, and seek new clients. If we don’t act on this stuck state, it can go quickly from flat growth to company losses and eventually bankruptcy. Making the move at the best possible time will allow you to gain higher rewards while decreasing the chances of your risk of failing.
Thanks to Deepanshu Bedi, Holistapet!
#22- When you have a plan
The right time to level up your business is when you have a plan, and that plan is working. If you're not getting the results you want, then there's no reason to change what you're doing. You might be doing something wrong, but that doesn't mean it's time to start over from scratch. You should only make changes when it's clear that the problem isn't with your strategy or your execution—it's with your target market or your audience.
Thanks to Dr. Prav Solanki, Prav!
#23- It is based on the level of strain
A great rule of thumb for knowing when it is the right time to level up your business is based on the level of strain you or your employees are feeling daily. If you and/or your employees are starting to feel overwhelmed by the amount of work you are having to do daily, then that's a pretty good indicator that you need to level up your business by bringing on more employees. That's why it's important to consistently check in with your employees – to understand how they're feeling and to know when it's time to level up.
Thanks to Jonathan Gans, Kahana!
#24- When you feel like your business is stagnating
When you've reached a point where you feel like your business is stagnating, it's time to level up. If you're not constantly innovating and improving, keeping pace with the market will be hard. You don't want to fall behind, so ensure you're always looking for ways to improve. It's also essential to keep up with technological advancements—the world is changing quickly, and if you can't keep up with where things are going, your business might not survive.
Thanks to Andrew Tsionas, Kaizenzo!
#25- When there is more competition
Whenever I sense that the competition is growing in the market I immediately try to make strategies to be on the top. I know one cannot always be on top but if you will not act right away, you will be left behind. I always try to study the market to know the changes that are being made by my competitors. I keep an eye on their moves and when I think that they may have a chance to go ahead of me, this is when I come into action.
Thanks to Kami Turky, SolarEnergyHackers!
#26- When I see an opportunity
Finding the ideal chance to expand my company is something I'm always looking for. When an opportunity presents itself that will help me develop professionally while simultaneously advancing the interests of my organization, I jump at it. People running startups are sometimes wary of taking chances like this since they can make or ruin the company, but I am always sure of my decisions, and that's what allows me to make the ones that are best for the company.
Thanks to Saurav Ahuja, ExcelTrick!
#27- Multiple external signs
You know it's time to level up your business when you see multiple external signs. In many cases, the drive to level up our businesses comes from the outside, rather than from the inside as we might expect. Usually, we like to imagine leveling up happening in a way that is smooth and comfortable, using goals based on our internal objectives. In reality, however, leveling up often comes as a kind of push from all manner of outside sources.
Thanks to Daniel Apke, Land Investing Online!
#28- Once it has gone viral
The easiest way to expand your business is to have it go viral on social media. This is a definite indication that expansion is required, and soon. The demand generated by a viral campaign might be enormous. The first flood of orders might overwhelm the stock of many small enterprises. You should contact your bank about getting a quick cash injection to help you meet your future order commitments. Consistent with this rising demand, it is a good moment to consider employing an outsourcing strategy.
Thanks to Bram Jansen, VPNAlert!
#29- When I see consistent growth in my revenue
I know it is the right time to level up my business when I see consistent growth in my revenue and profit margins. For example, if my business is growing 20% year-over-year and my profit margins are healthy, then I know it is time to level up my business. This could mean hiring new employees, expanding my product line, or opening new locations. This growth gives me the confidence that my business can handle a higher level of operation.
Thanks to Josh Craven, SprintFunding!
#30- When everyone else is playing it safe
When you see your competitors playing it safe and playing their cards very close to their chest, so to speak, that's the exact time that you need to go harder and do everything in your power to level up your business. It might be rough in the beginning, but your business will come out much farther ahead than your competitors once the environment changes that made them play it safe, to begin with. You can set yourself up for massive success by learning to zig when everyone else is zagging.
Thanks to James Green, Cardboard Cutout!