Startups are everywhere on the internet today. It doesn’t matter if your expertise, service, or focus is on technology, business, social media, content creation or even applications — this space is extremely saturated! Everyone has ideas, but only those who know how to implement them and turn their efforts into actions will see real results. Just like it’s easy for anyone to start a website or blog, it’s not so easy to get real traffic and make money.
The same is true for starting any type of business online. It’s all fun and games in the beginning, as you are likely starting from zero… but how long can this immediate growth last?
Rapid startup growth is a common goal for many business owners, but it’s one that is tricky to achieve. You need the right marketing tactics, customer support and operational infrastructure — and you need the resources to sustain it all until the sales start rolling in. This is where the opportunity of running an internet-based business really comes into play.
So, what’s the secret to scaling up with speed? Members of Young Entrepreneur Council share their best growth hacks for businesses looking to expand quickly. By following any of the growth hacks for businesses below, you should start to see improvement across the board in a matter of a few short weeks.
1. Create Your Brand
Start creating your brand as quickly as possible. Your brand is an important asset for a startup. People need to know what you do and why you do it in order to use your product or service. The faster people know your brand, the faster you will be able to scale up your business.
2. Learn How to Delegate
The fastest way to scale is to optimize your time. Start with the things that are taking up the majority of your time and find someone to manage them. Hire, outsource or create daily efficiencies, and scaling will feel easier than it should.
3. Focus on Your Processes
Experiencing rapid growth can be a good or a bad thing, depending on how prepared you are. We experienced and are experiencing this growth currently, and it helped expose areas of improvement in our processes. If your processes are broken and you grow fast, it will only emphasize those weaknesses. If you focus on shoring up processes first, you’ll be prepared for fast growth.
4. Draw Attention to Your Brand and Product
Ride on your competition’s research through SEO and advertising. Use Quora as a platform to answer questions related to your product. You will get immediate traffic. Use video marketing on LinkedIn to draw attention and increase followers.
– Trish Agarwal, V Synergize Global Solutions LLC
5. Keep Reminding Your Audience About Your Brand
You have to get out there and get your name out. The more people you know who keep seeing what you do, the more they will think of you when they need what you do or know someone who you can help. This is a big reason why people buy from top brands — their marketing is all over the place reminding you.
6. Grow Your Team
The rate-limiting factor of growth of any organization is leadership. Entrepreneurs need to scale themselves as well as their teams. When the team is more effective and growing, the business will automatically grow to greater and greater scale. Nothing matters more than human capital.
7. Don’t Be Afraid to Accept Help
If you insist on rapid growth, you’re going to need help. And once you get that help, you are going to need to trust their abilities. Too many entrepreneurs think they can do it all and they end up exhausting themselves/failing. Let those around you help you.
8. Put the Customer First, No Matter What
The bigger your business, the greater the need for a solid customer support infrastructure. Prioritize customer communication early on. Each interaction is an opportunity to showcase your brand’s voice and values. Cultivating loyalty and customer satisfaction is a result of having the right solutions and experts to guide your customer service strategy.
9. Know Your Sales Funnel
Sustainable, fast growth requires every part of the acquisition funnel to be in top shape. This will look different for every business, but it’s always important to pinpoint exactly what isn’t working, whether that’s acquiring leads, converting them or upselling them.
10. Learn How to Get the Right Traffic
You’re great at what you do, your service is wonderful and your prices are well worth the value you provide. The only thing is, nobody knows you and they can’t find you. If you know how to generate foot traffic or web traffic at a good cost, you’ll be able to scale up quickly. Find the right help, or roll up your sleeves and figure out how to do this for your industry.
11. Build a Strong HR Team
Most entrepreneurs do not pay enough attention to HR. To scale up quickly, you need to rely on people. You can’t do everything yourself and let your department heads rely on you in order to move forward. HR comes into play and lets you hire people that you can rely on.
12. Aggressively Network
My advice to startups looking for quick growth is to get the word out about their business or service by any means necessary. Spending a lot of money on marketing and promotion may not be possible in the early stages, but one of the cheapest and most effective methods of doing so is to connect with other professionals. Foster healthy relationships with professional peers.
13. Focus on SEO
SEO is still one of the most effective growth strategies, but it’s hard for founders to execute because it requires content development and the ability to build systems and processes effectively. Double down on content and guest blogging to get backlinks. Stick to it for a couple months targeting niche keywords and you’ll see exponential growth. Most give up too early, but it requires time.
14. Make Time for Strategic Planning
Every year, I make a vision board of what I want in my life. Then, I break it down to the top three goals that I feel I must accomplish for growth. Furthermore, I break it down into weekly actions and daily activities. Once a week, I outline my priorities for that week. I analyze what last week’s activities were, and if I find that I was off track or started another project, I cut it.
– Klyn Elsbury, Landmark Makers
15. Get to Market Quickly With Your MVP
It’s critical you get to market as fast as possible to test your assumptions. The concept of the minimum viable product (MVP) is the fastest way to support rapid scaling. It allows you to quickly test your assumptions, iterate your product and accelerate the never-ending work of building a product that remains a must-have to your target consumers.
16. Create Value
Nothing ethical and good is done without creating real and meaningful value for another business. Anyone who tells you otherwise is selling you a bottle of Uncle Tom’s magical formula. Focus on value and how to make that something that can be shared and promoted.
17. Proceed With Caution
Scale up based on demand, not just because you want to. If you scale up too quickly, you run the risk of overextending your resources and potentially losing your company. Concentrate on the quality of your product and look long term. If what you provide is really worthy of massive growth right away, the market will dictate that naturally and you won’t have to force it.
How to Start Your Startup in the Right Direction
Having read through each of the actionable and expert tips above, you likely already have some good ideas for launching or improving your startup. With all of this in mind, it’s important to take advatage of the many benefits the internet has to offer — especially in terms of connections and online tools.
Take some time to run through our list of recommended business tools and resources, and if you are currently having a hard time with raising the necessary funds for your business, this is also a great resource. No matter what direction or method you take, just be sure to take action daily and always progressing in the right direction.