How to Grow and Scale with Limited Funding
So you’ve turned your idea into a tangible business or solution and now you want to scale but don’t have the resources to do so. What’s the solution? Work more hours? Go for all-nighters from time to time? Trust me, I’ve tried that. It doesn’t work.
It’s not good for your body, your mind and it also sure as hell won’t work in adding to your bottom line.
So how do you grow and scale your business in spite of limited funds? I’ll tell you up front: Offer more value but continue to spend less and limit overhead costs.
Continue reading for more details.
1. Streamline your Prices
Here’s a way to get more revenues. Streamline your prices! Don’t BS anybody and tell them to send you a message, put up your Prices up front and practice Full Cost Transparency!
It’s vital to let people know how they can take advantage of your services and which packages suit them.
So streamline them and create categories for your different products and services and see how that may get you conversions in the long run.
2. Add more value to your content marketing
It’s a great idea to add more value to what your niche is. If you’re in the drop shipping business, then why not offer bonus products if your wholesale supplies allow it?
Or give them incentives for purchasing higher quantities of goods which people actually need for their long term necessities?
You can also offer freebies in other forms such as YouTube Videos, or eBooks or seminars. And the registrations for those offers will then allow you to create more outlets for lead capture.
3. Automate
If you want to save time and money and you want to focus on being on the front end of closing more deals with investors? Then automate! There are many ways where you can harness the power of AI’s and Macros to do your work for you. Just be sure to automate smartly and know when it’s your turn to manually make decisions and sift through the data when everything is collated and gathered.
4. Add more services
If you’re able to add more services in addition to those you already have, those can very well be new pockets of revenue streams you can achieve. It’s always possible to create more revenue through expanding your offerings. But never do this if you’re going to offer half assed products. You want to go all the way in terms of quality control. Because if you focus on quality, the more customers are inclined to purchase and they’re gonna wanna talk to others about you.
5. Grow your global team through Outsourced Staffing
It’s also important to know when to expand your staffing capacities. Sometimes you can’t do things on your own. It’s all well and good if you can hire, train and spend for overhead costs onshore. That would certainly give you creative control.
Managed Operations however is a different model of outsource staffing, where you retain the same Full Control of your metrics and your workflow as if you were managing field staff. So far, the best way to offer More Services without having to actually spend more is to Outsource Staffing through a Managed Operations Company.
In other words, you hire an Office for Hire and then grow your global team.
I know it because I started this company simply because I was frustrated with traditional outsourcing and freelance. Growing your global team comes with almost no risks at all since the cost of staffing is low but you get highly paid Outsource Staff who are willing to do the work you give them.
In any case, you should hire people who Take Ownership of your business. You can’t go wrong when you’ve got that part down.
Got any questions? Comments? Concerns? Comment below or send me a message!