I talk to entrepreneurs everyday, and they all ask me this question…
“How can I scale quickly?”
First, ‘quickly’ is relative….what’s quick for me, may not be quick for the next person…
So I usually follow-up with, “Why do you need to scale quickly”
And they will give a list of desires, liek leaving the 9-5, or spend more time with the kids.
Awesome. Got it.
Then I’ll proceed to map out a 12 month plan for them…
Here’s the inputs to that plan
Get your pen + paper to take notes here.
The first lever to pull is TRAFFIC.
To scale, you need more TRAFFIC.
It’s not new products, It’s not more discounts.
You first need TRAFFIC.
I won’t get into the details here on increasing traffic, but understand if you want to scale, this should be your first priority.
Put the majority of your focus there, and there only.
The second input is CONVERSION.
Getting traffic is a necessity, but CONVERTING that traffic is where the $$$ live.
Most websites are NOT setup for optimizing CONVERSIONS.
Go check your Shopify right now.
If your CONVERSION rate is under 7%, you’re missing out on THOUSANDS.
Again, another conversation for another day.
Back to this.
Once you nail down your TRAFFIC channels, it’s necessary to prioritize and optimize your CONVERSION.
Last input to scale…
LTV. Otherwise known as lifetime value.
Otherwise known as how many times your customer comes back to shop with you.
Rule of thumb - your customers should be spending $$$ with you every 60 days.
Figure out how to get them back into the door.
Those are the only inputs you should focus on to SCALE.
In that order.
Let me know if this was helpful! Also let me know which of the three inputs you need the most help with….