Owning a business is rarely as straightforward as people think, regardless of how much planning you do. Scaling your business is tricky because there are so many variables to consider. So, how do you prepare your business for growth and measure that growth?
Here are some effective strategies for scaling your business:
1) Hire a Digital Solutions Agency
If it’s within your budget, you should consider hiring a digital solutions agency. Having a strong digital presence is crucial if you want to be successful in today’s marketplace.
Companies like Icreon can offer incredible digital solutions, from digitizing warehouse inventory to mobile app development and automating processes and technology.
Streamline the digital platforms that your business uses by improving the way your data is used, managed, and stored. It’s a great way to scale your business because it keeps you organized. Explore some other digital services to see one of the many ways to boost your business.
2) Invest, Invest, Invest
Scaling your business doesn’t come cheap. If you don’t have the income to invest in your business yourself, you’ll have to get creative and find money from other sources.
Growing your business requires implementing new technology, upgrading equipment, hiring new team members, and more. Innovation sometimes comes at a steep price. Luckily, there are lots of small business grant contests that you can enter. These will give you the funds you need to expand your company.
3) Focus on Sales
Sales are essential if you are trying to scale your business. Ensure that you have a sales structure in place to create more sales – not just stay stagnant with the ones you already have. This means having a sufficient lead flow to produce the number of leads that you want.
You also need marketing systems in place to manage and track these leads. As well, make sure there are sufficient sales representatives to close leads, a secure system to manage orders, and a reliable billing system.
4) Build a Strong Team
A business is only as strong as the people who run it. Technology can give you a huge advantage, but fancy equipment will get you nowhere if you don’t have creative and practical minds on your side.
Make sure you have enough customer service representatives and people in management positions. Also, make sure that you’ve chosen reliable manufacturers and have an organized inventory management personnel in place.
5) Leverage SEO
SEO ties in with the earlier point about having a strong digital presence. Search engine optimization is a set of practices that allow you to rank higher in search engines like Google. Using SEO will lead to organic traffic and an increase in sales.
An example of an SEO strategy is keywords. Keywords are the words or phrases that people type into a search engine when they are looking for a particular product or service (Ex. “bakery in Dallas).
Doing keyword research and strategically choosing the keywords that you want to highlight on your website will allow you to rank higher in search engines.
6) Connect with Influencers
Social media platforms like Instagram have lots of influencers with massive audiences. One marketing strategy to scale up would be to hire an influencer to promote your product or services. Most of the time, these people have trusting audiences who are willing to try products that they promote.
If you truly believe in your product or service, an influencer is a great vehicle for driving your message across to your target consumer. Think of it as buying an ad on a TV channel that has a large viewership. You’re guaranteed to make an impression and potentially increase your sales just by being featured on an influencer’s page.