A few years ago, it was you and your computer science friend. Your business has been a long way in the joint work space in the sketch of the city.
I was worried about the tire stolen 10 stages before the end of the work. Now you have Tesla and parking spaces with your name, and after that there are three very important characters.
Nevertheless, not all sunlight and roses of startup C-Suite. You can continue to steam as you can impress the investor. You can’t lose your momentum, but you can’t afford to take a big risk. Your extension is as follows: Growing business In a smart and sustainable way.
1. Hire remote global workforce
Hiring employees can be a slow and wrong process that cuts the team’s resources. Lost time and resources at all stages, from interviews in multiple rounds to long on boarding and training processes.
On boarding costs can also be astronomical. STATS varies, but according to Ender.com, it can cost $ 4,000 to $ 20,000 for hiring new employees. And it clearly does not include their salary and benefits, and the sky can be high depending on the foundation of the company.
From there, we are looking at all kinds of overhead costs, such as renting enough office spaces to accommodate the team. And when the staff leaves, the hiring process must be restarted in Square One.
Remote employment (especially international employees sourcing) can reduce these costs. Workers at low -cost positions can help limit the cost of salary, but remote means that there is no need to allocate the office space. However, global recruitment provides all kinds of compliance and management obstacles. You can see them by working together Employer. EOR can store headaches in the HR team by managing on boarding, salary and legal works.
2. Determine the priority of customer problems
Leadership can be miserable when viewing customers by reducing short -term costs with low priority problems. Many famous companies have stopped the business because they thought about the numbers at the expense of shoppers.
We see the case of Circuit City, which prioritizes cost savings by dismissing experienced employees and replacing them with cheap new immigrants. As a result, many people had more frustration when many people had already switched to more convenient rival stores.
Keeping your customers happily is actually the first business rules, but it means you actually listen to your customers. The business that wants to expand continuously should investigate the customer base and make a decision based on the actual customer data. Ask them what kind of changes they want to see, what kind of product they are craving to.
Scaling requires customer securing, but not to mention that customer maintenance is cheaper and effective. The word of mouth of satisfactory fans is the best marketing.
3. Simplify the technology stack
The growing business is wasting money on Clunky Enterprise Software SUITES, designed for expansion that too many companies have not yet achieved. They spend thousands and fix themselves to use programs that are not most suitable for their business.
The cost of bad software selection is not a purchase price or a replacement program. Every time you implement a new technology, there are hidden costs, such as new software consulting and re -educating employees.
In a growing business, especially in small terms, new companies need to find alternatives such as SaaS solutions and free open source programs. They can mix and match cheaper options that meet the company’s needs better.
In other words, it is important to keep in mind when choosing technology. As the scale is expanded, the technology will have to integrate it with a larger platform like Salesforce or Shopify. Most new companies know that this is a priority, so it’s not difficult to find a program designed for compatibility.
4. Be smart about how to spread words
There is no need for a huge marketing budget to see the company’s traction. And you do not need to consume a lot of cash that takes expensive advertising. Instead, focus on cheaper and more effective strategies that put your brand name in the mouths of all right people.
Nowadays, most consumers say they don’t really believe what the brand says. They do not believe that ads provide or useful information for their own benefit. They want to hear from friends, online reviewers, or influential people. They can trust and speak honestly to the pros and cons of real people who use your product.
To gain trust with the audience, you will be organically raised social media or helps with cheap niche influence. They can emotionally appeal to them and reach the target customer. In order for loyalty to build consumer trust and interest in the brand, please provide evaluation or write product reviews.
Also, do not forget your email marketing as a tactic to grow and sell your business. It may seem to be an old -fashioned way, but email is a favorite way from the brand you like. Three to four largest emails per week do not look annoying and can increase customer brand awareness.
Prudently and efficiently approach the expansion
The name of the game is causing gradual changes when it expands sustainably. Check out the data to work and what it is, and implement a new strategy at a time. It is a good idea to place new products or policies that can be easily recalled, reversed, or restructured. If you are suspicious, we have a partner relationship with an expert who helped other companies’ success.
