[Advice] 5 things that could scale your start up right away

[brooktrout]

It's very common for business to only focus on the creative side of business, to often they forget to spend time on the actual business aspect of their business.These are 5 things that could scale your business to the next level if done right.

1. KNOWING YOUR BUSINESS
   One of the most important parts of business is knowing the actual business, it would seem logical to know the industry your in but often times business owners start businesses without fully understanding the industry needs and wants. This leads to waisted capital, time, resources, which no one can afford.
2. S.W.O.T (Strength, Weakness, opportunity, Threats)
   Conducting an S.W.O.T analysis is an important part business operations, understanding what your business is good at and what threats your business face; are crucial to know when running a business. A S.W.O.T analysis should be done at the start of a business, an about every 3 months after.
3. DEMOGRAPHICS
   Demographics are important factors in business, it can make the difference in whether your business makes 4 figures or 7 figures. Demographics tie right back into knowing your business; understanding demographics can make a world of difference.
4. RISK AVERSION
   Risk aversion one of the important factors out of all 5 . Implementing risk aversion in your business can be the difference gaining or losing customers. Not understanding how it works can mean your business would fold before ever get to really get started.
5. Customer Acquisition cost
   With out a doubt this should be at the top of every business owners and marketers list. Understanding what your business pays to get a customer, is the most important thing about business. If you aren't paying enough to gain customers then your business won't have the traffic it needs to function. On the other hand paying to much for a customer would also equal in business failure. Considering most business don't turn a profit in the beginning; this is something you want to get right from the very start.

These 5 things can be what takes your business to the next level, the sooner you become more familiar with all 5 of them the sooner your business will gain the momentum needed to reach its full potential.

IF there are any questions about the 5 topics mentions feel free to inbox me and i'll be happy to talk though it.

 

[mamaafrica]

@brooktrout Knowing your customers is also very important as well. Customer acquisition costs are very important to scaling so you have to know your numbers.

I like the attitude of "Ready, Fire, Aim" in regards to marketing and learning what works. Just be sure to track everything.