Scaling our business is always going to be difficult, it will take a lot of blood, sweat, and tears to get that all-important growth you seek, but it is possible and you can do it faster than you might think if you are willing to do thew work. And really, what’s the alternative? Letting your business go down the drain? Never making enough to truly live off the proceeds of your hard work? Quitting and going back to a 9-5 job you hate?
You don’t want to do that, so do as many of these strategies to scale your business as possible, instead.
1. Create a business plan
Before you fop anything else, you’re going to want to take some time, if you haven’t already, to create your very own eCommerce business plan, construction business plan, or business plan for whatever industry/niche you’re in. Why? Because it will give you a roadmap that you can follow and goals to aim for – basically it will give you direction which means you can really knuckle down and focus on scaling your company in the coming months and years.
2. Build a sales funnel
Next, you’re going to want to build a sales funnel that will enable you to very rapidly grow your business. Companies that don’t have sales funnels generally find it much more difficult to convert sales than those who have one because it can automate much of your business, while also doing a great job of convincing customers to buy.
Unfortunately, it can take some time to put a decent sales funnel into place, but once it’s there, it’s there for good and you can sit back and watch your business grow without too much input from you.
3. Get a customer management system
Why do you need a CMS system? Because it makes tracking your customer transactions so much easier than it would otherwise be, which means that you can easily scale your business without working more hours or having to hire too many new staff, which can be a difficult thing to achieve when you’re on a budget and your business has not yet been scaled.
4. Get to know your customers
If you know exactly who your customer is, what he wants and when she wants it, you can really step things up a notch by offering deals and products that are perfectly tailored to your core audience, When they see that perfect skirt at just the right price, you know they’re going to buy, which is why, if you’re serious about scaling your business, you should also be serious about getting to know who your customers are and what makes them tick.
5. Get to know your competition
As well as getting to know your customers, you should also make an effort to get to know your competition. Why? Because your competition can show you the way. If you look very carefully at everything they’re doing, from the products they sell to the type of advertising copy they use, you can quickly identify what is working for them and what can be improved upon. You can then ensure that your businesses doing it all better. It really is that simple.
6. Look for new opportunities
If you’re serious about scaling your business, it would be smart to ensure that you’re constantly on the lookout for new opportunities. You can do this, first and foremost, by knowing your customers, and as mentioned above, tracking your competition to see what they’re up to. But you can also find new opportunities by looking at what foreign markets and adjacent industries are doing. Basically, you need to always have your eyes open and on the prize if you want to see a decent level of growth in your business.
7. Start a customer loyalty program
If you want to boost your bottom line fast without having to do too much work, one of the best things you can do is to set up your own customer loyalty program. That way, customers will have a very real incentive, in the form of points, freebies, or discounts, to keep coming back to you. Since it’s as much as three times more expensive to acquire a new customer than it is to retain an existing one, this is one of the smartest movies you, as a business can make, and there are so many apps that make it so easy to implement that you would be foolish not to give it a go.
8. Create an email list
When you have an email list, you have endless opportunities to market to individuals who have already shown an interest in your company and what you do by signing up. That’s why you should, if you haven’t already, work on building an email list right now. Companies like GetResponse and ConstantContact can help you with this, but if you’re on a tight budget, it is possible to build your list yourself with a little reading and not a small amount of effort.
9. Go viral
Going viral is not easy. Countless companies and individuals have tried and failed. But, if you can find that sweet spot and create a piece of content that fired up the imagination, attracts attention, and makes people watch, read, listen and share, then you could see your business blow up almost instantly. So, if you’re the creative type, it may well be worth giving it a go.
10. Partner up
A great way of scaling your business that so many people overlook is that of entering into a strategic partnership with another company. For example, if you run a gym, you could partner with a protein shake company or yoga pant store, Why would you want to do this? For the cross-promotion benefits. If someone uses one company and they see your stuff advertised thee, they’re more likely to buy something from you over the competition because they already have a good relationship with the company you’ve partnered with. It can really work very well.
11. Use freelancers
Often, in order to scale your business, you need more manpower. If you don’t have the biggest budget in the world, one thing you can do is use sites like Upwork and People Per Hour to find high-quality freelancers who can work on various projects for you, increase your company’s efficiency and ultimately help you to scale your business without spending a huge amount of your capital.
12. Think about franchising
It isn’t for everyone, and your business will need to be in pretty good shape as it is for this to be a good prospect, but if you want to scale your business, have you ever considered franchising it? It’s complex and time-consuming, but it enables you to license your business to other entrepreneurs, which means you can grow your empire while someone else does the bulk of the work day-to-day.
13. Add new products
Diversifying your business by offering more new products and
Services can be a good easy of scaling your business fast. You just need to make sure that there is a demand for the new offerings within your niche or you’ll just end up wasting money and actually setting your vision for a larger. More successful, business back.
14. Think about passive income
If you can find a source of passive income, or three, then you can easily scale your business without all of the hard work and tiny margins that you generally have to work with, Sources of passive income include things like ebooks and courses, which once, you have created them, can be uploaded and automatically sold at any time of the day or night. Is there any way to make passive income in your particular niche?
15. Expand internationally
Taking your business global has never been easier thanks to the internet, so if you’re looking for a quick way to scale your business, why not start offering your opr5oducts and services in other territories that would be interested in what you do? It could be as simple as a new website launch.
16. Buy another business
If you have the capital, acquiring another business in your niche, or a related one, is one of the fastest ways to grow your business, obviously, it is also one of the most expensive and there will be negotiations and legalities to deal with, but once that’s all over, you will very quickly be able to scale your company – I mean you will be buying a fully functioning business to combiner with your own – progress doesn’t get much faster than that.
As you can see, there are lots of very effective ways to scale your business, and in less time than you might have thought possible. Of course, not all of them will be suitable for you or your business at this time, so have a long, slow think about the possibilities before you forge ahead and start making plans to grow your company and build a better business.