Every business needs to focus on two primary things: scaling the business and being a product-market fit. The best thing is that it is possible to connect the two by emphasizing on scalable, repeatable, and profitable growth.
Let us find out how you can automate and scale your business in 90 days by following a few steps.
- Identify milestones: To get started, you will need to link the capital with each growth phase of your business. For this, you will need to identify when you will possibly run out of cash. Once this has been determined, you need to work backward to define milestones that you’ll need to achieve along with deadlines on when you need to hit them. This will help you have a fully budgeted roadmap moving forward and have sufficient time for fundraising if required. It is highly recommended that you should not view valuation as a number that only goes up. Instead, you should focus less on the valuation part and focus more on how risk can possibly change the valuation over time.
- Look out for an increase in bookings: An increase in the number of bookings will indicate the success of your business. More business should equal the new average rate of return (ARR). To attain a consistent increase in bookings, it is best to make early access sales, ensure customer success, and ascertain a repeatable and predictable strategy to make it profitable over time.
- Identify your ideal customer: This could be the longest process of all involved processes but surely worth its weight in gold. The best strategy will be to avoid selling to too many different groups. Identify your ideal market and customers and then proceed to select a profitable, scalable, and repeatable way to sell to them. You will also need to find a single use case instead of selling to a wide range of use cases. Furthermore, you should be clear when communicating the benefits and unique selling proposition of your products and/or services to the target audience. For this, you should ensure that the message is attention-grabbing, concise, and different from your peers.
- Build your sales funnel: The next step is all about building your sales funnel by following a buyer-centric approach. Would you be able to generate more leads with discovery calls? What is the best method to approach your potential customers? What should be the ideal sales cycle for buyers? Find answers to these and other relevant questions. Thereafter, you will need to build a buyer persona. Find out what your ideal customers expect and care about, how and when they buy, and what steps they follow. Once you have all the answers, you will need to shorten the sales cycle.
- Avoid hiring salespeople too early: It is important for you to make sure your product is ready to be sold and don’t divert much of your financial resources on adding and paying more salespeople.
Find out how your business can automate and scale to go and stay profitable. Contact us at Dana Sacco now