Starting and Growing a Business is a challenge for most entrepreneurs. For those that have dreams and aspirations of how to scale a service business, I have a few secrets that you will want to focus on if you are facing this challenge.
If you want to scale any type of business, it will be harder than you think.
Let’s be honest, everyone that says you can do something that can change your life fast, is probably selling something. Even with an unlimited budget, scaling takes lots of research, time, and a team of leaders. It takes a Strategy and systems to run your operations and people on the back end.
Just because it’s hard doesn’t mean you can’t make it look easy
This is a favorite saying of mine, “make it look easy”. That is the key. As long as you have a simple plan and can visualize how you can scale and believe that you can scale your service business, then it is possible.
First Step in How to Scale a Service Business
Just like any challenge or campaign, you will need a team. To build a team, you have to first, build up yourself. Your leadership is the foundation of which you build anything in your life. Your personal life, and your business. You can’t build a team without leadership. You can’t recruit leaders if your leadership is weak. You also must have a big dream and vision that benefits everyone on your team, and they must all see the potential for growth. This is a must.
Second step is to build a customer value optimization plan
If you don’t know what Customer value optimization is, check out my other posts and it will go into more details. The quickest explaination of what it is and why you need it is this. Every business that needs to scale will need to accomplish 2 things before it begins to scale. It needs to have a systematic way of generating leads, building the relationship with those leads and converting them into sales. A CVO strategy doesn’t just stop there like most companies do. It continues to sale them other products and services over and over and focuses on getting testimonies, referrals and growing fans out of their customers.
This accomplishes 2 very important things that is crucial if you want to scale a service business. It lowers the cost of acquiring new customers, and it raises the customer lifetime value or how much on average each customer spends with your business.
If a business can’t do these 2 things, it won’t have the money to scale and sustain growth. In Fact, this is probably the first important concept to full understand and implement in your business as long as your leadership skills are solid and you understand that you will need to build a team. When you can consistently generate leads at a lower price and get repeat sales and referrals, you can scale a service business a lot easier.
The Third and Final Step to Scaling a Business
Once you have your team and customer value optimization strategy in place, you have to have systems on the back end of your company to help with the consistency of which your business runs. It will reduce mistakes, increase cash flow and speed between the initial sales and also help with customer service and public relations.
In closing, It doesn’t matter what type of business you run, these 3 steps are the foundation of scaling most types of businesses, and especially if you are wanting to scale a service business.
If you are interested in learning more about how you can scale your business, Book a free strategy call and let’s discuss you and your business structure and the best next move that you can make to get the most results.