Growing your business is an exciting thing to do for small businesses. But undertaking this task requries much planning and even more patience. Without the proper tools and outlines you can grow too quickly. It takes a delicate balance to grow effectively in a way that can be maintained. There are multiple stages to go through in order to grow correctly.
Stage 1: Simplification
Making simple processes that are easily delegated is the first step to being able to scale your business. You need to have things figured out to a certain degree in order to grow. Complexity is a huge time suck. Simplify your business from the ground up and you will find it is easier to scale.
Stage 2: Create a timeline
As with anything else, scaling your business requires milestones to be able to gauge wether or not you are growing. Without anything to measure you can't know if your business is growing or if you just have a larger cash flow. Goal setting is a great way to have something to aim for. Without goals, your business won't have any direction to go in.
Stage 3: Customer identification
Understanding your customers or clients will allow you to better serve them. More customers/clients means more business. How you handle a growth in sales will reflect how you will handle a larger company. Focus on one target market when advertising. A product created for everyone is a product created for no one.
Stage 4: Marketing
Create a sales funnel that appeals to your identified customer and gradually increase your reach. Once you have your audience figured out you can create a way to appeal to them and how to get their attention. Marketing is an important part of growing your business because without new customers you won't be able to grow.
Stage 5: Invest in people
Hiring should be the last thing you do. Many small businesses make the mistake of hiring help too quickly and don't realize that it can be their greatest downfall. Make sure that you can really afford to pay for everything that comes with hiring on.
Proven Strategies to Grow Your Business Workshop
DATE & TIME: October 24, 2019, 10:00am CDT
Location: Leander Chamber of Commerce & Visitors Center
100 N Brushy St. Leander
Leander, TX, 78641
Denise Lee will help you strategize to take your business to the next level. Create systems that work!