Is your business scalable? Does it have the potential to reach bigger audiences? When it comes to making more money you have to increase your reach. So here are some tips on how to scale your business.
Once you have a product there are two obvious methods to scale your existing business that make money.
1) Paid Advertising
If you can get your funnel to produce at least $1 for every $1 that you invest, then you have a scalable business model. Even though you’re only breaking even and not making any profit in the front-end, you are acquiring customers for free. When that happens, you win.
Why?
Because your customer list is a gazillion times more valuable over the coming years. The lifetime value of a customer is something I see many people underestimate – You have to think long-term. The value of your list is much much higher that you could ever imagine.
You have to start playing around with paid advertising, more specifically with Facebook ads. That’s what work best right now in the online marketing world. However, breaking even or making profit from advertising is actually super hard and takes a ton of optimizing and tweaking. Just breaking even is a lot harder than you think. It takes a lot of time, testing and effort.
Make sure you learn the advertising game ;).
2) Joint Venture Partners
A less risky strategy is to recruit affiliates and JV partners for your product and have them promote for you. This way you only have to pay when someone refers a sale, which means there’s no risk.
Just use a platform like ClickBank or LeadDyno or JVZoo and create a partner program and give 50% commission for every sale.
Those are two basic ways to scale an already working business.
Hope it helps. 😉
All Posts
Website
