“Rev Up Your Online Business Growth: Scaling Strategies using High-Performance Teams, Online Systems, and Data-Driven Decision Making”
Are you tired of plateauing in your online business growth? It’s time to rev up and accelerate to the next level using high-performance teams, simple online systems, and data-driven strategies.
As an online business owner, you know growth is essential to success. But with so many strategies out there, it’s easy to feel overwhelmed and unsure about which way to turn. Trust me; I get it. I’ve worked with numerous six and seven-figure business owners who felt just like you. So I’m gonna give you the exact phases we walk through to save them hundreds of thousands of dollars and cut their work week in half, all doubling their client capacity.
Let’s talk about the three things you need to take your business to the next level: a lean team, simple systems, and data-driven strategy.
First up, The High-Performance Team.
When scaling your online business, building a high-performing team is critical. However, we aren’t just talking about any team, this needs to be a team that will grow with your business. So we’re looking for long-term team members with amazing growth potential.
For some reason, in the online industry, we want to hire what I call “band-aid” fixes. These are team members who aren’t invested in the success of your business. They move on quickly, leaving us with increased team turnover and more time spent on hiring and training.
Business owners also tend to hire the wrong types of team members. There are essentially two types of team members in the online industry, the doers and the thinkers. The thinkers cover positions like OBMs, Marketing Coordinators, DOOs, COOs, things like that. They’re responsible for the strategy behind your business.
The doers are the people who implement those strategies. They’re making the magic happen. Too often business owners rush to hire multiple thinkers and neglect the doers. This simply leaves you with more people to manage while you’re still doing all the work. Invest in your doers! I often recommend the Executive Assistant as the first hire.
It’s essential to keep your team lean. Hiring too many people can eat away your profit margins quickly. By hiring a small group of doers, you can get more done without compromising your bottom line. You can even start with just one team member and grow from there. In the online business space, a small team is entirely possible because you’re not dealing with products, inventory, or things like that.
On the other hand, under-hiring is also a danger to avoid. Thinking no one can do things as well as you can and refusing to delegate tasks will result in stagnation. I’ve had many business owners tell me that “no one can do it like they can.” And they’re right, but often team members do it better. The key is to hire BEFORE it’s necessary, allowing yourself time to adequately vet candidates and train new team members. The goal is to hire the right people, for the right positions, at the right time. That’s the first step to scaling with healthy profit margins and without working your life away.
Next, we build Simple Systems that Scale.
Notice I said SIMPLE! Systems should not make you want to pull your hair out every time you log in. Building simple systems is a critical aspect of scaling your online business. These systems are meant to serve two core functions, automating your business and providing a seamless experience for your clients. Having well-thought-out systems is crucial to creating a positive customer experience that will keep them coming back for more. A negative experience, on the other hand, can lead to the loss of clients and potential revenue.
It’s essential to have systems that are designed specifically for your business. While following a cut-and-paste method that worked for someone else might be tempting, that doesn’t mean it will work for your business. Every company has unique needs that require custom-made solutions. Building simple systems that address these needs is critical to scaling your business.
When building systems, we always start with your core team systems first. This means we identify how you will assign tasks to your team, how you’ll communicate with them, and how you’ll manage repetitive actions in your business. These should be the building blocks of your business’s systems. Trust me when I say these are the systems that make your life easier.
It’s important to remember that systems will only fix some of the problems in your business. While they can make things easier, there still needs to be someone to run the system. That’s where your team comes in. Your team should be running the machine, not you. Focus on tasks that are a good use of your time, and let your team manage the systems.
Finally, remember that your systems need to be updated and maintained regularly. Keeping your systems up-to-date is crucial to ensuring they work as intended and provide the best experience for your clients. Your team can help with this, but you should still invest time and effort into understanding how your business’s systems operate.
By building simple systems that address your business’s unique needs, you can create a seamless and automated experience for your clients while making scaling your business much easier.
Finally, we create a laser focused strategy that’s based on historical data.
A data-driven strategy is an essential component of scaling your online business. This allows your entire team to stay laser focused on what needs to happen next to move the needle forward. This is how you avoid wasting time and money, and allows you to collapse your growth time.
So many coaches and consultants are selling cookie cutter strategies for online businesses. The problem with these strategies is that they often neglect the actual data behind your business. Then you end up paying a team to do tasks that have never moved your business forward.
Let’s use your marketing strategy as an example. An organic strategy should be based on the platforms that have historically performed best, the types of posts that resonate with your audience, and other related data points. Using these historical metrics, you can create a strategy that’s much more likely to work and scale your business. It’s not enough to have a one-size-fits-all solution. With this in mind, resist coaches and consultants who offer a strategy that doesn’t consider the unique numbers specific to your business.
A common misconception business owners have is that they have to pull all their numbers themselves. It’s overwhelming to do this, and a task should be outsourced to a team member. Nevertheless, as a business owner, you should be able to read and interpret your business’s numbers to make data-driven decisions. Still, the compiling part should be handled by someone else.
In conclusion, scaling a business requires a combination of the right strategies and tactics and the right mindset. By focusing on building a lean high-performance team, creating simple systems, and using data-driven decisions to adjust your strategy, you can take your business to the next level.
However, this is just the tip of the iceberg. To succeed, it’s essential to take action and implement these strategies to help your business grow. Start by identifying one area where you can streamline your team, your systems, or your data-driven decision-making process, and start taking steps to improve it.
Of course if you need help with any part of the process, we’re only a quick Zoom call away. We would love to chat and see if we could help you reach the next level. You can find more info on our Streamline to Scale program here or reach out and book a free 30 minute business assessment.