Many businesses start out without a grand business plan. Instead they find their place in the market by filling a demand rather organically. While this is great for survivability, it is seldom a good setup for long term growth.
I’ve been contemplating our agency’s business model for the past few months and distilled it down to three things I’d do the next time around:
- Solve for Pain and ROI: Offer a service or product that client would be crazy to say “no” to. We don’t and it makes sales unnecessarily difficult.
- Scale Past Key Man Risk Quickly: Make sure every critical task can be performed by multiple team members to ensure long term continuity. This also helps you settle on a business model that can support the necessary overhead.
- Understand the Funnel First: You need a marketing and sales strategy that scales along with the size of the business. It’s easy to get started based on word-to-mouth, but if this does not support the business past its infancy you will have to reinvent yourself along the way.
Luckily we got a lot of things right, too:
What would you do differently if you started over?
Have a great week,