Scale Your Business in THREE Steps
Updated: Feb 18, 2019
In the world today, there are more businesses than imagined but how do you bring your business out of the crowd so that you can keep your business profitable and scalable.
Using the phrase "Scale a Business" make things a little vague. So what does it really mean to scale a business?
Scaling a business means to position a business in a phase of prominent potential growth and high profitability and for this to occur, the business has to procure less overhead costs and expenses and also no sign of commensurate growth in overhead costs.
In this current generation, the most scalable businesses turn out to be online business as they require less income to keep them running and they are open to a larger worldwide market. If you own online business, there are ways to scale them and in this session, we will only discuss three of these ways of scaling your online business.
When you start an online business, your customer base is near zero and we all know, "production is not complete until the product gets to the consumers." To create a significant number of potential customers and customers eventually, you should borrow traffic from another online business that already has a large customer base. This can be a mutually beneficial relationship between the two businesses as the old business can generate income in the form of commissions for referring online visitors to the website of the new business. This means is best for generating organic traffics for your business online.
Also, the business can use a social media influencer like people with millions of followers on Instagram and Twitter can also promote your business online by tweeting about your business and referring potential customers to your business website and generating traffic.
There are numerous ways to create awareness for your products or services online and this process is called e-marketing (electronic marketing). The more persons that are aware of the existence of your product or services, the more potential customers you will have. This e-marketing involves the use of Google Ads, Facebook ads, social media marketers, content marketing and so on. You may even require the services of an SEO expert to write contents for your website that will up-rank your website on Google.
It is very important that you keep records of the costs of various e-marketing processes as well as their level of effectiveness so that you will know which one to cut down to focus all your forces on the means that works best.
Work and Time Investment:
It is still important to realise that time is of the essence in everything so also is your hard work. To make a business work, you need to put in the work and put in the hours. It takes hard work and time to prepare the best business plan that would be attractive to investors and will work fine to generate recurring customers and sales that will keep the business scalable.
Also, making your business work out requires the right team; ensure to invest quality time in hiring the best team players because a poor team will translate into a poor business outcome while the right team will yield a much scalable business.