Scaling Your Business During A Pandemic Year
As a new or struggling (yes, we have all been there and very well maybe there now!), a small business owner or entrepreneur scaling your business might sound overwhelming, especially how this year seems to be going. Whether you are a brand no or seasoned solo entrepreneur or a small business owner wanting to scale like big time going into 2021, this is for you. My primary career-oriented goal for this year for my business was to scale it, big time.
If you want to scale your business as we move into 2021, here are some tips to keep in mind that have proven successful for myself, clients, and many others in my network.
To be clear, at this moment, we are ideally talking about scaling your business and your income. Taking on more work without compensation isn't scaling.
Ways To Scale Your Business And What Saved My Business During 2020
Learn To Pivot ASAP
Pivoting is accepting that everything is changing at an extreme pace and to pivot is to capitalize on this knowledge! By learning to pivot, you will better capitalize on new revenue opportunities than others, stay relevant, and focus on building your business consistently without massive lag times.
Whenever someone asks me how I grew my business's client roster this year, pivoting, that is my answer! Is constantly pivoting comfortable positions to be in? Absolutely not.
The outcomes of being flexible and faithful enough to accept that everything is changing and I can change for the better as well made all of those uncomfortable moments 100% worth it.
Know Your Targeted Audience
The closer you're able to pinpoint your ideal targeted consumer, the easier it is to find new clients or sell your product. You should know what your targeted consumer lifestyle looks like, age, location, income range, interest, buying/purchasing patterns, stage of life, and anything else relative to your services or products.
Continuous Education
Keep on top of what is happening in the industry and use it to your advantage. Be sure that whatever field you are working in, you are continuing to grow in. New competitors are always popping up, don't let them snatch your audience because you thought you knew enough for now.
Secure an Anchor Client/Service/Product
Your anchor client or service is what you know works. They are the clients that have been with you for three years or the services you sell recurring. No matter what pivots you make, be sure you keep them secured on your list!
This stability allows you to seek out other work without fear of losing any income.
Outsource
The whole goal is to scale here, so make sure you have the needed resources to grow your business.
Whether that means hiring a content manager, a bookkeeper, a marketing strategist, whatever it is - when scaling your business, you will run out of time and limit your opportunities by trying to do everything yourself.
Note: If something is not in your wheelhouse, please outsource it, do not sit there and struggle or half-ass something that could be done quicker and better due to your pride alone. It is just not worth it, and you don't have the time for those things.
Raise Your Prices
Know your worth. This should take some research, but be sure your prices reflect your targeted market and your quality. Don't raise yourself so high that you scale yourself out of work. But once you have some credibility, be sure that you are pricing yourself correctly. In my first couple of years, this was one of my biggest struggles.
Develop A Business Plan
For Goodness sakes, you have no idea how many starting freelancers and small business owners want help growing their business to a full-time income or supporting a larger team but don't have a clear business plan.
There is no way of avoiding a business plan. A business plan is a must. How are you going to succeed if you have means of measuring your success by? If you don't feel confident in creating a business plan, get help! There are tons of people out there in your network, for hire, and tons of resources.
