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How to quickly scale your business so you can be successful
Many people will start a business, make a few sales, then start spending their profits on things they've always wanted. Well, that's not how a successful business is run, and you will be closing your doors within the first five years if you have plans to do just this.
Instead, you'll need to see yourself and your business as two different entities, and you can't dip into your business funds to buy personal things. Sure, you can pay yourself whatever you want, but the more you pay yourself each month means the potential for your business could drop. Think about it, if you paid yourself a lot and gave yourself a bonus, do you think there would be much left to spread around the business to keep it flourishing? Well, this is a problem that a lot of "CEOs" have, and it tends to hurt them sooner or later.
Now then, let's talk about things you need to focus on if you want your business to be successful.
Re-invest everything you can
I understand that you need to eat and have a roof over your head, just like we all do, but you don't need to go out to dinner seven nights a week because you can afford to right now. If you were to save up your profits, re-invest them into your business, and not into dinner, you would be able to easily purchase dinner for your entire office later on and not blink an eye at your decision.
Re-investing now is more important than a fancy meal because you could profit later with the decisions you make today. There will always be food to purchase, but you can never go back and fix a bad decision, so make the right ones and have no regrets later on.
Invest all of your time or as much as possible
Whenever you're running a business, you will need to understand that you're not going to work a 9-5 type job. You could start work at 4 am, bring the kids to school at 8 or 9, start working again and wait for everyone to come home, then you could make dinner, and you might sit down until 10 pm working to make a better life for you and your family later on. You won't usually work four hours a day, you'll likely work 10+, and you can't complain because the time you invest now will allow you to take time off later.
If you're a business owner, you need to work like one, and that means you can never look at the clock to see when you can leave. Get the job done, move on, and hopefully, everyone understands why you can't make it out to the bar or a party.
Be sure everything flows well and is maintained
One thing I've noticed over the years is that a good flowing business will always work better than something that has a bunch of pointless steps and tasks. Sure, it makes sense when you're reading it but you may have a lot of pointless things going on and not realize it.
Think about it, how often are you browsing Facebook or another Social Platform when you're supposed to be working? Wasted time is what can hurt your business in the long run. Try to avoid pointless action, fill your day with value, and get as many tasks done as you possibly can.
Upgrade your services, software, hardware, etc.
Another thing you might not focus on unless you're a server geek is maintaining everything on the back end, so it runs flawlessly. If you're a business owner who runs a shop and doesn't understand websites, you might want to have a sort of admin working on things to keep them running well. You won't have to pay them hourly, just when you need something updated, and they will jump onto your hosting and fix or update what's needed.
Make sure your customer service is as important as getting a sale
If you're not offering any customer service, you can kiss your sales goodbye! Guess who is offering great customer service? Your Competitors! And I'm sure they're glad you don't offer anything in the form of live chat, ticket systems, email support, etc.
It isn't 1997, so I hope you're offering as many paths to you as possible. You can have a live chat, ticket system email support, phone support, and even talk to your customers via messenger through Facebook if that's what they prefer. You must talk to everyone that has a question, or you will notice your sales dropping drastically.
Take a class on how to sell
If you have a great business idea but don't know how to sell it, take a class! There are plenty of sales classes out there that can turn you into a wolf of wall street and sell anything you want. I've taken two of these classes to make sure I knew what I was doing, and they both opened my eyes. I thought I was good at what I did when talking to customers over the phone, but I was wrong, and these sales classes helped my profits increase due to all the new customers I was bringing on board.
You can't run a successful business if you're not trying to boost it as much as possible. You need to eat ramen noodles, save your money, work long hours, and do everything possible to bring in that next sale while saving money at the same time. If you can do all of that, while not going crazy, you should be able to build a successful company in a year
Thanks for reading
- Tommy Carey