Scaling your business can seem daunting and almost impossible when you’re in the trenches, working IN your business rather than focusing on your growth.
It doesn’t need to be hard.
Infact it should be the most rewarding phase of your business..
And the most exciting!
Here’s our 5 simple tips to help you get on the right path..
1. Automate your manual processes
When it comes to scaling online, automation is the holy grail of efficiency. You can scale your production and you can scale your campaigns, but the one thing that you cannot scale is your time. No matter how you frame it we all have the same amount of hours in a day; and that number is 24. In 2020 it makes absolutely no sense to still be doing tasks that can be 100% optimised and replaced by process automation.
Tools like Hootsuite and Buffer are extremely popular to automate much of your social media management. The RSS feed on your blog can be automatically regulated to Facebook, LinkedIn and more with ease, and similar tools also exist to invoice reminders, email proposals to potential prospects, and organise your inbound calls.
Look at where you are wasting time, and then figure out how an automated tool can give you more time to work on your business rather than in it.
2. Identify your bottlenecks
Planning, shifting to an online framework with the intent of growing your business online, will obviously depend on the current status of your business. Maybe you’ve already gotten yourself a strong team of professionals on your side: content creators, a marketing team, a production team, someone handling logistics, and so on.
A big problem that you may face is with so many moving parts it can be difficult to identify the inefficiencies in the system. The pace at which your business can operate will be dictated by the slowest “cog” in the machine. You can work toward identifying any bottlenecks by leveraging project management software like Basecamp or Trello, Monday.com, Asana and more.
Most of these solutions are built on a system known as a Kanban board. This visual aspect of this workflow technique aims to progress tasks from left to right, limiting the number of items that can exist in a column. When you see things start to pile up, you’ll know where things are moving at their slowest.
3. Recognise what your best foot is – and put it forward.
‘The Pareto principle’ states that 80% of output is generated by 20% of input. This is definitely true when it comes to business, and may mean that in order for your business to grow, you may have to make some cuts.
Let’s take e-commerce for example and let’s assume you have 10 products that you sell through your online Shopify store. A couple of them may be real superstars, bringing in the majority of your revenue. But at some point, you’ll need to take a look at those remaining eight items and get rid of the under-performers. Doing this will free up resources so you can either focus more of your marketing efforts on the two superstar products, or develop potentially awesome replacements that will hopefully perform better. It’s about tripling down on your strengths and freeing up resources to explore other profitable avenues.
Remember, this cycle never ends and it’s a mindset you’ll need to reapply over and over again.
4. Grow your content team to leverage organic reach
When you first start a Blog, a Youtube channel, or a Medium account, chances are you’ll be the only one doing the creation of content. That’s fine in the beginning, especially when you’re working to establish your brand or to solidify your reputation as an expert in your niche or industry. But as time goes on, you may want to ramp things ups, and having to do it all yourself becoming may result in you becoming time poor and shifting the focus of your business to content only.
This is your cue to start thinking about outscoring. Marketplaces like Freelancer.com and Fiverr are accessible and convenient, but they may not provide you with the long-term solution that you really need. Take the time to seek out people who you are eager to see their skillset shine on your channel/site for years to come.
5. Pursue media exposure actively
The single most effective thing you can do to scale your business online is buying UNDERPRICED MEDIA. Social media Ads will help you explore new markets and reach out to new people who can potentially become new buyers, readers, subscribers, and ultimately advocates of your brand. There are many ways you can do this, but retargeting ads seem to be the best aquisition strategy of the last decade.
Do you need help growing your brand? Could your business do with a few more sales? Schedule a FREE call with us to find out how we can help you grow your business with online marketing.