5 Ways to Scale Your Service-Based Business

A successful business can fail if it can't scale

(Image: iStock/julief514)
(Image: iStock/dino4)

 

Whether you’re a solopreneur or small business owner, chances are you’ll reach a point when you’re ready to take your business to the next level. Scaling your business means creating opportunities to reach a new audience, offer a new product or service line, and ultimately, make more money. Here are some ways to get started:

Automate your client’s journey

 

One of the biggest mistakes new entrepreneurs make is failing to anticipate the needs of their customers. But with the right systems, you can automate everything from recurring communications with your customers, and growing your business with Facebook Ads to sending invoice reminders. Ultimately, automation helps you provide a positive customer experience while freeing up your time to work on growing the business.

Narrow your focus

 

Think small to grow big. Clarify what’s working and what’s not working, then focus on your most successful niche. Simply put, a niche is a more defined product or service, which meets the needs of a specific group of people.

For instance, let’s say you initially opened a food truck, which sells comfort food, but later determined chicken and waffles was your top seller. You could then change your business model and menu, which could offer 10 variations of chicken waffles.

Turn your services into products

 

Identify your repeatable processes in business, then document your steps and turn them into templates, digital guides, courses, or webinars. For instance, let’s say you’re a web developer who provides custom web design services, you could develop a series of website templates for sale.

Update your pricing model

 

Stop charging by the hour and have client’s signup for a monthly package or three-month minimum contracts. Alternatively, you can also consider a tiered pricing business model—a range of services or products at different price points.

Form a partnership with another brand or influencer

 

Partnerships can serve as a bridge to reaching a massive audience. Research potential brands that have similar communities or connect with influencers who target groups focused on a similar niche.