4 Ways a Small Business Can Scale to Profitability
Downfalls like not being a profitable venture, startups shutting their doors or even bankruptcy are often caused by a lack of knowledge or a willing ignorance amongst small-business owners.
“If the owners really knew what they were doing wrong, they might have been able to fix the problem,” entrepreneur and business speaker Jay Goltz told The New York Times. “Often, it’s simply a matter of denial or of not knowing what you don’t know.”
Don’t fall into the trap. Armed with the following knowledge and know-how, you have a fighting chance of making it as a profitable business that continues to scale for years to come.
1. Prove your expertise. To get customers to trust you (and pay for your products or services), you have to prove you’re an expert in your industry.
You can accomplish this by posting blogs, sending out newsletters, participating in interviews, publishing content through noteworthy blogs or publications and making informative how-to and instruction videos that relate to your business.
“You cannot buy trust at any price. But slowly, over time, you can build it for free,” business advisor Jeffrey Gitomer told Copyblogger.