Is your online business growing like a summer weed? If so, that’s good, but beware, scaling an online business is a very difficult art, said to be one of the biggest causes of startup failure.
Follow my foolproof tips and get it right.
Get a Partner
Getting a solid business partner is one of the best things you can do to scale your business. A business partner should complement your tendencies and spot certain inefficiencies that you might miss. A technical and business founder are ideal for an online business.
Because your business is online, vast amounts of the work can be automated. This means you get machines to do the work for you. There are automation tools for social media, payroll, PPC, email marketing, and practically all aspects of the online business model. Effective use of automation can really serve to bolster your scaling efforts.
Freelancers can save you a lot of money. You do not have to pay for their insurance or use any payroll software (in most cases). You can hire them for a specific project and then move on. There are hundreds of thousands of freelancers available to choose from on various platforms.
Hire Slowly and Carefully
If you are hiring people, then be very slow about who you hire. Wages are a huge and ongoing expense and you need to ensure that the person is committed to the business and serious about his or her work. It is best to use freelancers until you really need to take permanent staff on board. Only hire when you need a very particular skill set. Don’t hire for the sake of growth.
When scaling an online business, you need to scale in all directions at the same pace. Don’t overspend in a particular area and always look at the business as a whole. Sales and hiring new staff are possibly the two biggest pitfalls when it comes to scaling. These are often justified as being the most important things, for profit and growth respectively. But there is no guarantee that they will do either.
Scale With The Company
As the company scales, you need to scale with it. This involves changing your mindset to look at innovative new ways of doing things. You will need to delegate many tasks and work with a wide variety of different people. You will need to grow and change for your online business to scale.
The Take Away
One of the main goals of any business is consistent growth. The good news is scaling your online business doesn’t need to be difficult if you have a plan and you follow my advice. Need help? Call us and we’ll show you how.
Bob Milliken is a master marketer specializing in helping businesses achieve outrageous levels of success. Bob can be reached by phone at 604.270.1730 or by email at email@example.com