Sep 28 in How to scale your business
3 Things You Can Do To Scale Your Business
- Charge More
One way to IMMEDIATELY make more money is increase your prices! I know this is a touchy subject and feel overwhelming. The number one thing entrepreneurs say when I say this is what if I lose clients?! You will. BUT you will also make more room for clients that will pay the new price. Also, because you're charging more you won't notice a huge difference. Now don't go increasing your prices by 50% lol start at 10-20%
2. Spend Less Money
Many entrepreneurs don't know their numbers. The best thing you can do for your business is to figure them out. What is your fixed expenses (rent, water, PSEG, ETC.)? What are your vendor fees? What are your payroll fees? Marketing fees, etc. you get the point. Add up everything and figure out what you can do to make things less expensive. When you do this you don't even have to make more money to get more money.
3. Get More Customers
MARKET. Market your business! This usually includes spending money to make money. The thing you have to remember when it comes to marketing is if your average ticket is $50 you want your marketing to cost way less per lead. For example, if I pay $600 in marketing per month but it brings enough paying clients that spend $10,000/month that's $16.67/lead I'm paying for. Sounds like a pretty good deal to me! Now without that $600 your missing $10k from your bottom line. Keep in mind depending on your business you will have to find what kind of marketing works best for you and will most likely have to go through some trial and error at first.
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3 Things You Can Do To Scale Your Business
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