Let's face it. Scaling your business is hard. It takes
considerable effort. In the beginning, it means wearing different hats. It
means dealing with sales and marketing. It means
understanding taxes and corporate compliance. It involves having to
interact with customers daily. And so much more. At the end of the day, it
takes its toll on you.
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| NIrav B Patel Hoboken - Business tips |
Nirav B Patel is a great businessman and he lives
in Hoboken, New Jersey. He is
explaining business growing steps. If you're struggling to grow your business,
there is light at the end of the tunnel. Sure, it's hard. But, what's the
alternative? A life-sucking 9-to-5 job? Surely not. Okay, maybe you're longing
for the security of a guaranteed paycheck. But, at what mental or emotional
price will that come?
The truth? If you
buckle down, clear your mind, and just look at things in perspective, you can
easily identify ways you can grow your business and make
more money quickly. While hundreds of business growth
strategies likely exist, the following 15 will take your business to the
next level quickly and efficiently.
Nirav Patel, a business growth strategist,
has a unique approach to scaling businesses. As a principal of Digital
Marketer and Native Commerce Media, and CEO of War Room
Mastermind, he knows a thing or two about the online marketing world.
Nirav B Patel, who builds and scales seven,
eight and nine-figure businesses tells me that there are loads of ways to grow
a business quickly. But, only 15 core strategies that will truly make a real
impact on your bottom line. Some are time intensive at the outset. That much should
be expected. But, the benefits and profits will ultimately make them well
worthwhile.
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| Nirav Patel Hoboken - How to grow a business |
Like anything else in life or business, you have to put in the
time if you're looking to reap the benefits. Don't focus on the short-term outcome of your work. Look to the long term. Build sincere value and look to
help your customers. Genuinely care. That should be the foundation. After that,
it's simply a matter of taking action and putting in the work to scale.
1. Build a sales funnel
The first way to quickly grow your business is by building a
sales funnel. If you don't have a sales funnel, you're making a monumental
mistake. Sales funnels can help to automate your business. It helps you to
scale and grow quickly and easily. Sure, there's some front-end work involved.
Obviously, but, once those processes are in place, it's smooth sailing from
there.
Nirav B Patel says that every sales
funnel needs to be carefully conceptualized before it's created. Consider
the different funnels first and foremost. Whether it's a free-plus-shipping
offer or a high-ticket coaching funnel, it's important to build your automated
selling machine to quickly scale and grow your business.
2. Utilize customer management
system
Manually tracking transactions is hard. No one wants to do that.
It gets too cumbersome as the business grows. If you want to scale quickly, use
a customer management system. There are plenty to choose from. But, it depends
on your line of work. Of course, cloud-based software
like SalesForce is always a viable option.
QuickBooks can help you with accounting. Infusion
Soft can also assist with sales and marketing. There are plenty of CMS
systems, most of which integrate with other cloud-based services. Find what
works for you and utilize it.
3. Research the competition
When going to market, and you're looking to get your offer to
the masses, you need to research the competition. Nirav Patel says he uses two platforms to conduct his research. The
first is a Similar Web. The other, Ad Beat. Both provide competitive
intelligence. It's your chance for x-ray lenses into all landing
pages, ad copy, and other stages of the funnel.
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| Nirav Patel - Small Business Growth |
This allows you to uncover any advertiser's online strategy.
Find the ads that have been running for the longest and emulate those. That's the
quickest way you scale any business. If it's proven and it's working for your
competitors, it'll likely work for you.
4. Create a customer loyalty
program
Loyalty programs are a great way to increase sales. It costs
up to three times more money to acquire new customers than it does to sell
something to an existing customer. Other resources pin this number anywhere
from four to 10 times more. However, any way that you slice it, acquiring new
customers is expensive.
Nirav B Patel says that building a customer loyalty
program will help you retain customers. It might also help you attract new ones
as well. If there's a clear incentive to spend more money with you, it'll pay
off in the long run. Build an attractive loyalty program and make it accessible
to your existing customers and watch sales skyrocket over time.
5. Identify new opportunities
Analyze new opportunities in your business by understanding
you're demographic better. Understand everything from distribution channels to
your direct competitors and even an analysis of foreign markets and other
potential industries. There are likely dozens of new opportunities you could
pursue immediately with the proper amount of analysis.
6. Build an email list
One of the best and most effective ways to grow a business
quickly is to build an email list. That means you need to have a lead magnet.
Why else would people subscribe to your list? And, with a lead magnet, comes
the necessity for a sales funnel. Look into companies like Aweber, ConstantContact, ConvertKit, Drip, GetResponseand
others for building and managing your list.
7. Form strategic partnerships
Strategic partnerships with the right companies can truly make a
world of difference. It could allow you to reach a wide swath of customers
quickly. Identifying those partnerships might be easier said than done. But,
look out for companies that are complementary to your own. Contact them and
propose opportunities for working together.
8. Leverage global platforms
In the e-commerce business selling products? Why not
use Amazon's FBA service? In the business of selling services? Why not
use Upwork? In the business of renting vacation homes? Why not leverage AirBnB, InvitedHome, HomeAway or
other global platforms? Find a platform that's reached saturation and use it to
grow your business quickly.
9. Licensing deals
Doing licensing deals is a great way to grow your business
without too much added effort. If you have a product that you can license to
others and share revenue, that's an ideal way to grow quickly. Taking a
popular or successful product and bringing it to a company with a large
footprint can help you achieve market saturation quicker.
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| Nirav B Patel - Grow Your Business |
10. Consider a franchise model
If you have a successful business, and you're looking to grow
quickly, consider franchising it. Although franchise costs are high and moving
to a franchise model is complex and takes a lot of marketing know-how, it could
make all the difference if you're truly looking for quick growth.
11. Diversify your offer lineup
Look into diversifying your offers. What complementary products
or services or information can you offer in your business? To grow, you need to
think about expansion. Identify new opportunities within your niche. Uncover
the pain points. What else can you sell to your clients? Where else can you add
value to the exchange?
12. Build passive income streams
Growing a business takes significant effort. If you're dealing
with razor-thin margins, consider building passive income streams. This way, you
don't have to worry so much about keeping the lights on, so to speak. Passive
income will allow you to make mistakes and not have to lose your shirt. It'll
keep you in business and provide a basis to grow and market and scale quickly
by giving you ample resources.
13. Acquire other businesses
Sometimes, acquiring other businesses is a very quick way to
grow your own business. If you can find competitors or businesses in other
industries that would complement your own, you could use them as platforms to
scale fast. Take a look within your industry and even outside of it to find a
potential for potential opportunities.
14. International expansion
Can you expand internationally? Can you take your existing
offers and scale them internationally? What would it take to do business in
Canada or Mexico or Europe? If you have a converting offer, international
expansion could be a quick way to grow. You'll incur some costs. Sure. But, the
potential for profits could be massive.
15. Create a webinar
Webinars are a great way to promote any product or service.
It can also help you grow any business relatively fast. Webinars provide an
automated selling tool for literally taking any product or service to market
and reaching a wide audience quickly. The webinar medium is great for
captivating audiences to clinch sale after sale, automatically.
