How To Scale Your Business For Increased Profitability
If you are reading this, it may mean that you have been thinking about how to start scaling your business so that you get increased profits. Scaling means planning how your business can provide more to more people so that you experience exponential growth. It may not require you to work harder, but definitely working smarter!
Let’s talk about some of the things you need to consider when you are ready to scale.
1. What are you selling for increased profits?
Scaling means that you should have more than one thing to sell. Most successful entrepreneurs are not just selling the same thing to their audience. They have multiple products or services which their audience can buy at different stages of the buying process. They understand that scaling means that their business has to be in demand on a continuous basis. That means that they need to be able to provide solutions to their audience in various ways.
This is how I moved from $150 to $15000 a month in sales
2. Do you have multiple tiers to scale?
Similarly, you want to create tiers of sales in your business. Think about any of your big names brands that you follow, they give you a mix of ways to buy or a mix of products to buy. Some can be as low as $19.99 and others can be as high as $99.99. Businesses do this so
- they can scale
- they can serve their different tiers of clients
- that their audience can ‘test’ them out at first before moving to a big-ticket item.
- they can build that know, like, and trust! This also allows them to cross-sell and upsell to their audience which in turn is how they are scaling their business!
3. Do you have a team to scale?
I know there is pride in saying we are one person shows but the truth is that if you want to scale your business you need a team to manage the growth. Without a team, many things can slip through the cracks. Your team does not have to be a huge and they also do not need to be full time, but they need to be clear on their areas of responsibilities so that your audience is always satisfied. Your team, can take over certain aspects of the business so you can remain focused on the income generating activities that keep bringing more sales.
This may include getting a Virtual Assistant, Project Manager, Sales Manager or Graphic Artist on board. Whoever becomes part of your team should be contributing to the growth of your business.
Let’s look at an example. If you are a service provider, and you are ready to scale your business from only providing 1 on 1 service and that chasing of client after client, you can scale your business by providing
- Digital Products (automated)
- Group Services
- Workshops
- Speaking Engagements
- Physical Products
This a great way for any service provider to start to bring in multiple streams of income into their business and in some instances work even less hours per week…if that is their desire. Scaling does not mean working more, it means working smarter. And offering multiple ways for your audience to buy from you that allows you to experience exponential growth in your profits
