How do you know when to scale your product?
Scaling your product is a crucial decision that can make or break your business. It means expanding your reach, increasing your capacity, and growing your revenue. But it also involves risks, costs, and challenges. How do you know when to scale your product and how to do it effectively? In this article, you will learn some key indicators, strategies, and best practices for scaling your product.
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Measure product-market fit:Before scaling, ensure your product is truly solving a customer's problem and that there's a loyal customer base to support growth. Look for positive trends in customer retention and feedback.
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Ensure scalable infrastructure:Your technology, processes, and team must be able to handle increased demand. Optimize your tech and streamline workflows to support expansion while maintaining quality service.