May 15, 2023

Are you Scaling or Growing and Does It Matter?

25 minutes

We are talking about all things scaling and growing today! We talk about the difference between the two and why that is important, how we have scaled and/or grown our businesses, and more! We also discuss accrual and how Karamel and her business Women Travel Abroad sometimes has to predict for a price increase when booking for a trip that isn’t actually happening until the following year. It’s really important that you identify whether you’re growing and scaling because there is a distinction that can make a difference.

We are really glad that we had this conversation because it really helped spark some light bulbs for us, and we hope that our discussion about scaling vs. growing is helpful and insightful to you! If it is, then please consider subscribing to the podcast if you aren’t subscribed already so that you never miss a new episode when it drops. We are also now on YouTube, so please feel free to follow our YouTube channel if you want to both hear us and see us from here on out. Until next time!

Time Stamps

[0:57] - Today’s topic is on scaling and growing.

[1:38] - Michele explains the difference between scaling and growing.

[3:16] - Michele emphasizes the importance of retention.

[4:35] - Karamel is currently crunching numbers.

[6:37] - COVID revealed businesses that were not fiscally fit.

[8:24] - Karamel argues that there is pressure involved in being responsible for people’s pay.

[11:26] - How does Karamel account for trip prices increasing before WTA goes?

[14:14] - Karamel discusses why she is now able to be more proactive.

[17:03] - Michele gives an example of growing.

[19:15] - Michele and Karamel are transparent about the difficulties of being business owners.

[22:27] - Karamel says that they have to be very intentional about plans for the next five years.