My small business is several years old now and revenue has been flat for the last 2 years. There’s a good amount of profit and I’m not complaining, but I would really like to see the business continue to grow and not just stay flat at the same level.
We have $15k which isn’t needed for anything else and could theoretically be invested in growing/scaling the business, but I’m not sure how. We already sell internationally. We already have pitched our service to nearly everyone in our niche industry. We have the capacity to handle more clients but our marketing efforts are already maxed out. All the low-hanging fruit is gone and we’re struggling to find new ways to grow.
The business sells professional services online B2B and B2C.
Any ideas?
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What is work that you can delegate? 20% of our efforts achieve 80% of the results.
Using the 80-20 rule, you can identify which work is useful, but not critical. Use your funds to outsource this work. This will open up time to study more areas and plan further expansions.
Another option is to hire the appropriate minds that can think outside of the box to tap into new niches and convert at higher rates.
Best Regards,
Landon