Do you want to grow your business multi-folds? Do you want to grow your business to the extent that it no more needs your persistent attention? Do you want to diversify and generate franchisees making money for your brand?
All these facets are of a scalable business. From ten years of my experience as sales and business coach, I have learnt and helped my clients overcome the biggest limitation faced by MSME owners and that is lack of scalability. So, I make it my mission to empower them with affordable and high-quality business strategies and processes, which have time and again proven to be helpful in growing their businesses up to even five folds.
Guys, here is one of the time tested, completely implementable and most reliable pearl from my collection. Let me give you the concept of TRADORAIL. This is bound to scale up your business, making it the express rail of success!
Ø Teachability- Business Skills Training
MSME owners face maximum difficulty in grasping and applying the concept of “teaching the traits” of their business. Mostly, out of insecurity, sometimes due to lack of a capable team. Ninety percent of the time they bear the psychology of- “if I have to do something right, I have to do it myself!” This starts the downward spiral.
A business owner only has 24 hours in his hand, limited time singlehandedly, can deliver only limited outcomes. Now imagine a work force of 5 people working at their 24 hour potential. This makes 24×5=120hrs. The outcomes will also become five times if not more!
Therefore, the business owner should transfer all of their teachable skills to their team, and then use his hours of expertise on expanding the business.
“If you want to do a few small things right, do them yourself. If you want to do great things and make a big impact, learn to delegate.”
– John C. Maxwell, American author
Ø Repeatability-Increase Repeat Customers
Generating a scalable business is impossible without a product with repeatable demand. It is only a repeatable demand product that can assure a strong base of repeat customers and increased repeat sales revenues. Adding cross-sales and up-sales options into your product/service enhances repeat customers. The best example of repeatable demand product is razor and blade. When customer buys razor and blade once, he is bound to buy the blade again and again. If you can create such a repeatable demand in your business you can definitely scale up your business.
Customer loyalty is also earned by giving high quality service/ product along with all-round during and after sales experience.
“Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves.”
– Steve Jobs
Ø Automation of processes
A large proportion of businesses in our country still remain untouched by automation. Don’t get me wrong, I am as strong believer of the fact that human expertise and human decision making remains unparalleled by automation currently. But several aspects of business including team management, order management, recordkeeping, accounting, communication and several others can all be enhanced by automation.
Using technology to reduce our labour hours can help you reap the benefits of a larger team even when you have less number of employees.
Ø Differentiation Strategy- What Makes You Unique
Look for that one unique quality of your product/s that differentiates you from your competitors. Although,
if you would ask my expert advice, I would say you are the biggest USP of your company, your mission, your vision,
your values are the biggest tool that makes you one of a kind. Even the biggest
of brands encash this. Their values resonate with the customers, and their
consistency of quality delivery keeps customers faithful to them.
“Our brands—Nike, Converse, Jordan Brand and Hurley—are loved by customers all over
the world. But we never take that for granted; we know that every day we have
to earn their trust—by serving them completely and adding real value to their
lives through products and experiences.”
– Mark Parker, CEO, Nike
In this aspect I would encourage you to watch my YouTube video here–LINK HERE that talks about
development of your USP.
Outsource Expertise- Build A Team Of Experts
Get experts on board, build a team that shares your dream of success. Most SMEs never build a team, in the name of a team they recruit family members. This is not wrong if you have in-house experts of the field. However, if not, then you will end up spending time in guiding and training them as well. On the contrary, a team of experts will allow execution of your ideas from day one
Ø Re-Investment- Investing in Your Own Business
Whatever are your profits, if a major portion of those do not go back into your business as an investment, then your business can NEVER sale up! You could invest in infrastructure, marketing, learning new skills yourself, training your team, technological advancement, automation. There are endless aspects that could use your investment, and are essential for business scalability.
“MAKE MONEYà USE THAT MONEY TO MAKE MORE MONEYà REPEAT”
Ø Aspire High – Dream And Achieve Your Business Breakthrough
I always say,” Start your journey keeping your destination in mind”. This helps you to find the best route, develop an organization with a mission, collaborate with the best resources, plan better. And even if you tread slowly then, success is inevitable!
Ø Get Investors –Look For Investors To Support Your Business
Present your ideas and business plans to the experts in the field and seek investment. There are experts who can guide you to grow your business. You might have to relinquish some control of your company but this in return will you, the owner also accountable to someone, and continuously motivate you in a guided fashion to go forward!
“Get the best to invest in you, then rest assure your will succeed “
Ø Lead-regeneration-capability
Not only is it essential to have faithful repeat customers, but using an “expert team” and “re-investment in marketing”, businesses must fire their efforts in full force for lead generation. Anyone, can be a potential buyer, your team is to be trained with the x-ray vision for understanding the need of the customer. This comes with asking the right question, understanding the demographics and psychographics of your potential leads. This is not enough, following this “perseverance is the key”. Follow-ups feed you into the customer’s memory, and that will come handy whenever they will think of buying the product you sell!
So that my dear friends these were the concept of TRADORAIL, for ensuring the scalability of your business. I have trained multiple MSMEs to grow and expand based on these principles. And I will you all the best for your success.
Remember, if you need any further assistance, I am just a phone call away!
About Business Guru Rakesh Sharma –
Rakesh Sharma is one of the best business coach in India and Business growth consultant. He runs his own Sales Training in NCR. His company is rated one among the best sales training companies in the country by the clients. He is a sales coach in India. he has coached hundreds of clients. As Sales Trainer in India he has trained coached and trained thousands of trainees across country. He a one among the best business coach in NCR and Sales Consultant in NCR.
