Business growth is the main goal of entrepreneurs worldwide, but scaling presents a unique challenge in itself. The idea is to boost revenue far beyond the rate of cost – easier said than done, that’s for sure!
We asked successful executives for their best business scaling tips in the age of the internet, so keep reading to learn some valuable inside info.
Start with a Roadmap
Nothing worthwhile happens in business or life without a vision and plan. Start by mapping out your strategy before you get to work and limit risk.
“When beginning your business, sit down with a financial planner to fully plan out financial goals and expectations. By doing this from the start, you are able to focus on the growth of your company as part of your business plans. You can market and promote your business all you want, but if you are not increasing revenue constantly, your business will not grow as fast as you would hope.” – Michael Waxman, CEO and Co-Founder of Sundays for Dogs.
“Find the right influencers. Here at Blink Bar, we were lucky enough to have an organic clientele of influencers because of our location in Los Angeles and because of our reputation of being the original, natural-looking lash extension service. We were able to work with these influencers on creating genuine content and helping us market our service. The influencer market is also highly saturated which makes it important to find the best influencers to fit your company’s morals and values.” – Tirzah Shirai, CEO and Founder of Blink Bar.
“Start with a business plan. Mapping out exactly how your business is structured helps define more attainable goals. Creating product plans and business needs from the top down will help you create specific tasks. These tasks, once completed, achieve a goal- each goal builds your business. Continue breaking each of your goals down into smaller goals to reach each larger end goal.” – Chris Vaughn, Co-Founder of Saucey
Coordinate Across Departments
Don’t get stuck in silo mode when scaling your business. Efficient growth happens in unison with effort and coordination between key departments.
“Make sure you have a solid sales process that has been tested and perfected. This way, when you’re ready to scale your business, you’ll know that you just need to do more of what you’ve been doing. The more sales you close, the more people you’ll be able to hire to keep your sales rates growing.” – Amber Theurer, Chief Marketing Officer of ivee.
“I’ve found that the key to scaling well is making incremental improvements across the board without letting anyone department fall behind. It’s a bit like juggling or spinning plates – you’ve got to see the bigger picture and how everything fits together. You’ll soon see how lessons can be learned and applied from one department to the next.” – Brandon Monaghan, Co-Founder of Miracle.
“Be an expert on your product! This is your brand and you of all people have to be the best marketer for your company. Pocketbook Agency has a strong product development team that we work tirelessly with. We put in all of this time to create products that we truly think are the best options on the market. By articulating this passion for our products, we have been able to effectively gain consumers and investors!” – Brittney Dolan, CEO of Pocketbook Agency.
“Growth is the result of a healthy competitive atmosphere, so your goal should be to cultivate that. This is more effective than trying to choose a particular path forward and planning from the top down.” – Edward Felten, Professor of Computer Science at Princeton University.
“If you want to scale your business, incorporating TikTok and Instagram into your marketing strategy is important. These platforms have become powerhouses in helping brands broaden their reach. You can visually highlight your products through videos, photos, and live streams. If you offer fashion or beauty products, you can easily create a lot of content around how to use or style your products. Partnering with other brands and influencers can open up new audiences as well.” – Sara Shah, Co-Founder and Co-CEO at Journ.
Maintain Strong Fundamentals
When scaling fast, staff may be overworked, and the foundation of your business can get shaky. Move slow and steady to avoid disaster.
“If you can build your company based on what you want to provide to your consumers, you are able to build the company structure based on that criteria. Begin with the logistical idea and then create future products and optimal sales goals based on your ideas. You are able to easily set up what you want your brand to look like in the future and propel your business to successfully fulfill those dreams. Put yourself in your customers’ shoes and get your creative juices flowing!” – Danielle Calabrese, COO of De La Calle
“Growing means setting yourself apart from everyone else. If you want to scale, you have to clearly demonstrate why your company is different and better. By using unique ways to stand out, you’ll be more likely to connect with customers who are looking for the kind of value you’re offering.” – Eymel Daniel, Co-Founder of ForChics.
“Too many companies try to be good at everything when they should be focusing on what they do exceptionally well. Figure out what you can offer customers in ways other companies aren’t and put all of your efforts into it. Having too many mediocre offerings can dilute your success as a whole.” – Courtney Buhler, CEO and Founder of Sugarlash Pro.
“You must have a stable brand concept. Yes, you have a product and yes, you have a business model but your company needs to brand itself. You need to have distinct content that emphasizes your values. Your consumers don’t want just a product, they want an experience. They want to be able to be a part of your brand’s community. Share your consumers’ content and reviews on your social media pages or newsletters, make them feel welcome! Taking your company to the next level means fully delving into every aspect of your industry with full force and profound confidence.” – Joe Parenteau, Co-Founder of Fable.
Level Up and Move On
When one goal is reached, another one takes its place. There’s always more that can be done to improve and scale your business, so stay focused on the road ahead.
“A great way to scale your business is by investing in the right tools and technology that your employees need to be more efficient. By investing in the right tools for your employees they can focus their time on scaling the business in the right way. Remove any roadblocks they may have with technology and let them do their best work.” – Chris Gadek, Head of Growth at AdQuick.
“If you want to scale your business, you have to know how to serve your customers in a way that keeps them coming back and recommending your company to others. The easiest way to make sure you’re serving your customers to the best of your ability is to simply ask them how they feel about your level of service. Once you have gathered their feedback, implement meaningful changes to meet their needs and expectations.” – Benjamin Smith, Founder of Disco.
“Think big, but start small. When you’ve got the green light, then scale or fail fast. You repeat this process time and time again, learning and improving along the way” – Mats Lederhausen of the World Economic Forum.
Scaling your business isn’t always easy or intuitive. Follow these tips and you may find some ways to optimize while keeping overhead low – more revenue awaits!