You're ready to scale your business and get more clients. However, certain challenges come with preparing to scale. Most importantly, you may be wondering about how to do so in the most affordable manner. Minimizing your costs is typically a pretty major concern.
You might be in a position where you have the infrastructure to expand and you're willing to make investments toward your company's development.
If that's the case, all that's left to wonder is where exactly you should be allocating that budget, so that you can get more clients without overspending.
Fortunately, in the modern landscape, there's no shortage of affordable means. We are more connected than ever, and scaling your business shouldn't be a frustrating task.
Here are just five methods you can consider when trying to get more clients while minimizing the costs of scaling your business.
Investing in software is a great way to minimize the costs of scaling, all while keeping your company up-to-date. From information management to automation, technology can drastically cut the expenses of scaling with the right forethought.
For example, investing in a good means of system integration and information management may mean paying less for oversight.
Depending on the service in question, technology is also a long-term investment.
Paying for better technological means of storing and tracking information means less money spent down the road on unnecessary hires. And by saving time, you'll be able to have your existing team be able to accommodate more client work.
You want to get more clients, but you have to prioritize the internal components of your business structure first.
Chances are, you have a staff dedicated to each important task in your company. So the first thing you might be thinking is to go out and hire more people as your business scales.
But as you know, hiring takes a lot of time. The opportunity cost of looking externally may not always be worth it.
That's why scaling teams and responsibilities should first and foremost involve a consideration of what you can do internally. Though this isn't always easy to do, you can be flexible. For instance, you can often move someone from marketing into copywriting (or vice-versa, depending on the scenario and needs).
The point is, you can often fulfill new client work internally. Only when you absolutely can't should you look externally and make that time and monetary investment in a new hire.
Here are some guiding questions you can ask yourself in making such a consideration:
If your company delivers products, how many staff members should you allocate per customer?
How large do you expect your company to grow in the near future and how many new employees are appropriate to hire?
Analyzing each department and area of your company before scaling will help you cost-effectively scale your business. And your customers will appreciate this forethought.
Expanding your business often means entering a new market. Whether you're relocating or just branching out into new areas, formulating a new advertising budget is a good idea.
Though it may sound like an additional cost, advertising often pays for itself. If you don't have a staff dedicated to advertising your business, creating one can cut costs down the road by helping your company get more clients in the initial stages of expansion.
While scaling your business, consider how you can optimize your deliverables to be more satisfactory for your existing clientele. Because after all, selling more to existing clients can cut down your customer acquisition costs and help you scale without unnecessary spending.
Here's how you can approach doing so:
First, you can start with formulating a plan to better your rate of outputting deliverables to existing clients. This may involve delegating more responsibility within your company regarding deliverable output, so that you can provide status reports more regularly to clients.
You could also offer your clients services such as real-time digital status reports. Putting effort and time into optimizing deliverables for existing clients will also incentivize referrals and help you get more clients, as well as cutting potential future costs in other areas such as marketing and advertising.
When you have the right infrastructure in place, you are more than likely looking to scale. But contrary to popular belief, scaling doesn't necessarily require you to invest a fortune into acquisition. We saw today that there are a variety of ways to grow while minimizing scaling costs.
Though you know how to do most of these things better than we ever will, ad copy is something our copywriters have excelled at.
Compelling ad copy often pays for itself in multiples as a relatively small initial investment can help you get more clients. So what are you waiting for? Hire an ad copywriter today.
Steven Li is the founder of The Rising, a publication that covers how changes in the environment impact business, politics, and technology. He is also a contributing writer at Entrepreneur Magazine and Forbes.Hire Steven