You’ve got the business idea that you know will take off, but now you have to get it out into the world and make it work. You’re probably thinking, How do I scale my business in a year?
It might seem like an impossible task at first, but if you set your mind to it and follow these ten (10) tips, you can accomplish just about anything in three hundred and sixty-five (365) days. Here are some ideas on how to scale your business in a year.
1) Keep your customers happy
If you want your business to grow, you have to keep your customers happy. The best way to do that is by listening and providing what they need. And when they don't know what they need, ask them. That way, you'll be able to anticipate their needs and help them achieve their goals.
In addition, customer happiness leads to customer loyalty. And customer loyalty means repeat business and more referrals - which leads to growth!
2) Train your employees well
Train your employees well. It's important to find people who will do your company justice and teach them the ins-and-outs of how you want things done.
All too often, entrepreneurs neglect this part of growing their business, and they end up with underperforming employees. Make sure that you are investing time into training your team members so that they are equipped with the skills they need to succeed on their own in case something were to happen to you.
A good way to train your employees is through hands-on experience and by giving them opportunities where they can make mistakes without it costing the company anything.
3) Invest in marketing
Investing in marketing is often the difference between success and failure. You can have the best product in the world, but if no one knows about it, you won't make any money.
There are so many different marketing strategies that work well for different kinds of companies, but these are some of the basics you should be thinking about. Start with your website, blogging, search engine optimization (SEO), social media (including LinkedIn), video marketing, email marketing and advertising.
Some people even invest in billboards or getting their logo on items like t-shirts or coffee cups. Whatever type of business you're running, get creative when it comes to advertising - because every penny counts!
4) Stay flexible
Be sure to stay flexible. The business world changes rapidly and new ideas are constantly emerging, so it's important to keep your eyes open and be ready to change course if necessary.
One of the most important ways to stay flexible is by maintaining relationships with the people you work with. As your business grows, you will need more assistance from others so it is crucial that they understand what you're trying to accomplish and can provide support as needed.
5) Delegate
It's time to let go of that one-person show and delegate. Delegate as much responsibility as possible, including the things you're not good at.
You don't have to do everything yourself, and there are plenty of people out there who want (and need) your help. Figure out what you're good at and what you enjoy, then start delegating those tasks to someone else.
6) Prioritize
Prioritize the right growth channels. Understand that there are many opportunities out there and some will be more appropriate than others, depending on your business goals. For example, if you want to grow through acquisition, then investing time and money in paid advertising is likely not the best option.
If you're looking for organic growth, then networking with influencers may provide better results.
7) Set realistic goals
One of the most important things you can do is set realistic goals. It's easy to start making big plans but it's better to start small and work your way up. Setting realistic goals means not taking on too much at once, which will make it more likely that you'll succeed.
A goal could be as simple as trying out a new email newsletter marketing campaign. Some other examples might be implementing an employee onboarding program, adding some new features to your website, or creating an internship program.
Setting achievable goals will give you motivation to achieve them and success along the way will make it easier to keep going with these smaller victories.
8) Measure your progress
Measure your progress by tracking key metrics that are important to your business. These can include revenue, customer acquisition cost, customer retention rate, conversion rate, and average lifetime value of your customers.
There are many tools out there that you can use for this purpose. Some of them are free and some require payment. It all depends on what you're looking for and how much time you have on your hands.
9) Stay organized
With scale comes additional responsibility. To manage your growth, it's essential that you stay organized and have systems in place.
One of the best ways to stay organized is to focus on your top priorities and make sure everything else falls into place around them. Write down your goals and map out how you can achieve them, then set up a system so that you can track progress.
When it comes to scale, the two most important things are staying organized and remaining flexible.
10) Get help when you need it
The best way to scale your business is by getting the help you need. You don't have to do everything on your own, and you'll get more done when you delegate some tasks.
It's hard sometimes to let go, but it will be worth it when you're able to focus on the things that really matter. Take an honest look at what's working and what isn't, who can handle what needs to be done, and who has the time or inclination to give you a hand.
Hire people where needed, or bring in volunteers if you can. Then set up systems so that as much of your day-to-day work gets done without constant supervision from you.
