5 Strategies to Multiply Your Creative Business Revenue

As an entrepreneur, you have a dream of growing your business in leaps and bounds. You want to make enough money so that you do not have to work another day in your life. However, you may have realized that achieving this goal is not as easy as it seems. You may be struggling with managing your time and balancing your client work with product creation. The good news is that with the help of ecommerce, you can scale your business in a way that allows you to achieve your dream. In this article, we will look at six steps that you can take to grow your business.

Before we delve into the steps, let us first consider the reasons why you should scale your business. First, when you scale your business, you will be able to focus on your core objectives. As your revenue grows, you can have your business generate more income without your participation. This will enable you to sit down and focus on those core objectives. As Sam Carpenter, the author of Work The System, says: “If solid goals are established and the majority of time is spent manipulating systems toward those goals, great results will materialize naturally.”

Second, when you scale your business, you will save time. You will be able to generate revenue without directly trading your time for money. If you previously spent most of your day on client work, you will be able to reduce that and replace those hours with other important activities.

Third, when you scale your business, your quality of service will improve. This is because you will acquire specialized talent. You can follow the advice of advertising legend, David Ogilvy, who said: “If you ever find a man who is better than you are — hire him. If necessary, pay him more than you pay yourself.”

So, how can you scale your business? Here are the six steps that you need to take:

Step 1: Think Big and Take Action
While thinking is important, it is even more important to take action. Avoid unrealistic imaginations and think in steps. If your present monthly revenue is barely $20,000, think about how you can make that 10X and what you need to do to get there in the next 3-6 months.

Step 2: Determine Your Value
If you sell services, ask yourself the way forward. Should you get more clients or increase your rates? If you increase your rates, how can you also increase the value so that your clients are encouraged to pay more? Remember that when you increase your rates, your inflow of clients will reduce, and that is okay. You do not want to work with everyone, only those ideal clients that will help you achieve your business goals.

Step 3: Cut Costs Down
As you scale, you need to get rid of unnecessary costs. Critically analyze your business expenses and answer these two questions:
• Can your business do without this and still work?
• How can you spend less on this and still get the same result?

Step 4: Determine Your Budget and Capital
With a budget, you will not spend more than you should or less than required. While cutting down on costs ensures that you do not incur unnecessary expenses as you grow, having a growth budget ensures you increase expenses only on the right things. Your capital depends on how much you need to grow at this point. You will also want to incorporate a “Peace of Mind Policy” into your growth budget. This policy provides security for your life and business by ensuring you make stable and consistent investments that will prevent you from unnecessary expenses in the future.

Step 5: Get the Best Tools and Hire the Best Minds
When you grow, managing contingencies becomes harder, especially if you do not get the groundwork right. You should outsource some of the business tasks to the best talent using sites like Upwork or Freelancer. You should also equip your website to sell your creative products by hiring a developer to install some premium plugins or using simple landing page solutions like Spaces or Big Cartel that are specifically built for creative people.

Step 6: Scale
Bringing all your plans and actions from steps one to five together, you can kick-off the whole process. Without the right systems and documentation in place, you will find yourself working more unproductive hours.

In conclusion, scaling your business with ecommerce can enable you to achieve your dream of making money without much personal effort. While the process may take several months, you will not have a taste of the benefits unless you take action. Hopefully, these six steps will help you take your creative business to the next level.

0 responses to “5 Strategies to Multiply Your Creative Business Revenue”