Masters of Scale

Masters of Scale teaches entrepreneurs ways to open up a successful company and scale it from the grounds-up by going into detail about the right business practices, how to seize opportunities, and foster an organizational culture that encourages innovation and customer-centricity.

Let’s say you’ve just finished pitching your idea to a potential investor. And after your presentation, all you get is a no. That’s it, they didn’t even consider another option. Or perhaps they evaluate your idea in detail, and then they say no. Another situation is when they didn’t even hear it right, yet they rushed to greet you with a negative answer. You see, different no’s have different meanings.

However, all of them can help you re-evaluate your business and come up with better ideas. In any case, receiving a no should never keep you from chasing your goal, but it should help you reassess it, perhaps. Oftentimes you hear criticism from your family and friends, who don’t want to see you hurt.

Ask them why they don’t like your idea, and if they can’t be specific about it, it’s an emotional-based opinion. If your investors refuse your idea straight away, they could be trying to spare themselves an uninteresting pitch. Therefore, take that opportunity to reevaluate your business and address the weaknesses. Do so when you receive a detailed no as well, and ask for advice.

Sometimes a no can give you the chance to grow your idea even stronger before you take it to the market. Chances are you won’t succeed at first. But after a while and if you persevere, your idea will grow stronger than ever. The lesson here is to learn to differentiate between a lazy and a real no and learn from them later.

Scaling up can prove to be a real challenge if you don’t know how to set the pace for this process. Luckily, all the information you need to take this leap forward is already in the market. So the only thing you have to do is look for it. Scaling up your business through referrals or huge promos can speed up the process. But it’s important to know if you can handle that. Always expect the unexpected. What if so much more people than you’ve imagined sign up for your list of products? On the other hand, fearing the market is another impediment for entrepreneurs. There isn’t such a thing as the perfect momenfcret. However, you can get pretty close if you listen to your customer’s needs and wants. Then, serving them your solution at the right time and not waiting forever to perfect your craft can prove to save your company from starvation. A great way to…