5 Must Do Steps To Scale Your Small Business

by Jim Smith on June 25, 2012 · 5 comments

Struggling with how to grow your business?  Perhaps you’re not thinking big enough. Here are 5  steps to grow your company to several times its current size.


1. Look at financing alternatives.

As an entrepreneur, you need easy access to small business loans through banks, angel investors and other sources. You should also consider partnering with a larger organization that is seeking a small innovative partner like you.

2. Think big and be bold.

Small business owners should become creative and think about where they can take their business. Think both inside and outside your business sector because that may be where the opportunities really lie.

3. Increase your visibility.

Make sure that people consider you an expert in your field. Get as much publicity as possible through contact with the press and through the web and social media.

4. Work on and not in the business.

Thoroughly understand your strengths and weaknesses and build a team accordingly. Make sure that the right people are in the right positions and can help you get to the next level and beyond.

5. Establish a support network.

Every small business, whether established for a while or just starting up, should have a small business support network. This should be at a minimum an informal group of friends or acquaintances who are there to provide both moral and subject matter support or the group can be more formal in the shape of an Advisory Board to give you advice and counsel whether for a fee or better yet pro bono.

{ 5 comments… read them below or add one }

Lovely Lewis June 26, 2012 at 3:17 pm

Starting a small business is not an easy job to handle. It requires a lot of patience and hard work. I love your post it can help those who are starting their small business.

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Jim Smith Jim Smith June 26, 2012 at 3:37 pm

Lovely:
Thanks for stopping by and glad you found them useful.
Jim

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Cassandra Park June 29, 2012 at 3:51 pm

I think this is very much useful. I like your post and keep up the good work.

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Jim Smith Jim Smith June 29, 2012 at 7:30 pm

Hi Cassandra:
Glad you stopped by and found this useful.
Jim

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Jason Hull July 20, 2012 at 5:05 pm

Another idea is to seek complementary partnerships. Is there a potential partner who can provide a brand extension for what you offer? Can you leverage this partner to make offers to your customers and vice versa? Are you good at marketing and they’re good at execution? Find partners with strengths that augment and enhance yours to allow both of you to make proactive offers to both sets of customers.

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