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How to Scale Up Your Start-up in a Limited Budget
- November 8, 2019
- Posted by: admin
- Category: Growth strategy
To grow start-up you need to scale up. But the main question arises where are the finances coming from and how to manage everything with constraining budgets?
Scaling up your business means taking up more workload without neglecting on quality of work and cost of it. Some start-ups get off the race track due to lack of right mindset, people etc.
When you have limited resources, be creative.
We have jotted down some tips which can get you out of the dilemma and help you take the pace:
Get the right people
Onboarding right people, help you scale your business.
Get a person how can do more than a program. In a start-up environment, a single employee needs to do multiple tasks. Hiring people with multiple skills sets will help you cut the cost and manage it well
Right people make wise decisions and save your business from sinking.
Move your business responsibilities off your shoulders which means your business can grow without you.
I know it takes time to come on track after coming back from a long vacation. But you will be happy to see that.
Shifting your responsibilities can help you concentrate on other important things like ideation, networking etc.
Thumb rule for start-ups is outsourcing. Let the mundane jobs machine do. Automate the process which doesn’t need human efforts.
A startup definitely doesn’t need an in-house janitor person. To sustain in the race and succeed you need to outsource some activities. Freelancers provide you specialization at lower costs which is definitely not avoidable.
It’s ok to take time in setting up your backend but it will ease your work in the future which helps you in scaling up your business model.
Few things which can be outsourced –
Now you have easy access to the world of internet and liberty to reach the world, to be sensational in a limited budget and why not social media, as masses are widely available there. Social media can also be used to collaborate with new people and develop a business connection.
Social media gives you maximum returns in a low budget. Channels such as YouTube, Facebook, Twitter, Snapchat, etc. have the capacity to give you returns within hours.
Content marketing has the potential to make it viral. In short, marketing can make or break your goodwill or let it grow. Keeping a constant eye on social media will help you survive, as to stay in the storm is part of scalability.
It’s all about networking
Keeping mentors is always useful. Be a part of business groups/associations, share links, exchange information. It’s damn important to have mentors who guide correctly. Participate in business groups that can promote your business positively to each other.
Create a value proposition and increase the demand for your product/service. Aim that your customers know you with brand proposition.
Certainly, opportunities are going to arise that will attract you. But be careful while making the decisions. See if the opportunity is in streamline with your business. Study well before stepping into it or scrap it.
SEO of the website
SEO leads you to be on the first page of the google search which can cost you some money and also take time. PPC which is putting your ads on Google to attract your customers to your website which can be done by any freelancer digital marketer.
Startups are not easy but definitely good to hear that freelancers are gaining interest in startups.