How to Grow and Scale Your Business

The best way for businesses to systematize their operations in order to more substantially grow core business and accelerate revenue is by properly delegating work functions and designating in-house responsibilities to those most suitable to their role.

As a business owner or entrepreneur, your main focus should always be to become the best possible coach to your team. You need to evaluate the strengths and weaknesses of your team and after doing so properly designate work functions based on their strengths. Opportunity cost is quite possibly one of the most overlooked aspects when delegating work responsibilities. Your team needs to have clear and defined roles and these roles need to encompass the strength of your team members.

Two Viable Strategies

Depending on the scope of your business, there are two viable strategies for accelerating growth and taking your business to the next level. The first is innovation & disruption from above. This will be most relevant for businesses in manufacturing and design-based industries. If you have a superior product to your competition and have a successful marketing strategy, making use of “pre-sales” and “waitlist marketing” is quite possibly one of the more powerful ways to expand your business. Honey, Tesla, and Robinhood are the most prominent examples of just how successful and powerful this strategy can be. Robinhood acquired 1 million app downloads before the project even launched with this marketing strategy!

The second viable avenue for accelerating growth is via employing industry leading customer service and value add marketing. This will be most relevant for sales companies, financial services, SaaS industries, etc. Amazon, Squarespace and Netflix are the most prominent industry players which have utilized the above strategies. Squarespace adds value for customers by providing a free website builder (SaaS) with the hopes of getting customers in the door and eventually upgrading to the subscription service. However, before they acquire a customer their ultimate goal to provide great customer service and add value to the potential customer well before they have signed up for their service. Amazon is renowned for outperforming its peers in customer service, yes in their earlier stages they were losing money in order to build clientele, however those losses all eventually turned into paying customers which could not go without the service and live without an Amazon Prime subscription. Netflix is king of content and many feel it to be integral part of their life.

Elements of Success

Entrepreneurs need to first and foremost own their failures and mistake and make due change whenever they occur. Failure is always a part of the process! The important thing is that you “Fail Forward in Everything You Do”, and learn from your mistakes! Moreover, entrepreneurs should be experts in planning and mapping out their vision for the company.

“Unsuccessful entrepreneurs don’t plan to fail, they fail to plan”

The reality of succeeding in this economic landscape is that those that really successful businesses provide something unique to their customers. “What separates you from your competition? If the service or product you provide as a business is 99% similar to other businesses in your industry, why would customers gravitate towards you and why would you gain market share?” If you’re not separating yourself from others your being lumped together and that typically isn’t a good thing.