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Five Of The Best Ways To Scale Your SME (With No Investment)

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You should also naturally prepare for any surprises along the way, but most importantly, planning will help you to remain financially stable.

If you’ve just started an SME, then you probably feel you must get investment to keep going, and bring your business to the top of its game. Well, not exactly. You can get by just as well without early investors, and I’ve got some tips on how to do just that.

Competing in a crowded market with other startups in the same sector often means SMEs get off to a difficult start in terms of generating investment. After launching my company, Laundryheap, in 2014, we bootstrapped, and we then waited a further three years before any investment began to come in. This period was and is for many a tricky time, but thanks to some of the tips in this piece, we survived those early years, and went on to flourish.

1. Put things in order It sounds obvious, but it’s always best to start with a plan. Identify your goals, so you can figure out how you’re going to achieve them. You should also naturally prepare for any surprises along the way. But most importantly, planning will help you to remain financially stable. When scaling a business, money is at the forefront of everything you do, so having a well-thought-out plan will ensure you’re spending the right amount of money at the right times.

2. Pick the right talent Your workforce is invaluable to you and your business. Without them, you simply wouldn’t survive. But you can’t just hire anyone. You need the right people for the tasks at hand, so it’s useful to have a hiring strategy. Role delegation is a clear way to ensure everyone knows exactly what is expected of them. It involves scoping out people with the specific talents for the jobs you need to get done. In addition, hiring those with specialist skills will aid in the smoother running of your business. For instance, it’s handy to have a salesperson and someone good with numbers. And you can never go wrong with a tech person. Hiring people with specialisms will help streamline your workflow. Of course, smaller businesses may not have the budget to go on a hiring spree, but sharing resources with other businesses or delegating tasks to the most appropriate team member can work well as a first step. You just need to ensure you prioritize the roles most advantageous for your business.

3. Evolve and adapt to stay relevant The world is constantly evolving, and so are businesses. Whatever it is you offer now, changes will need to be made as you adapt to the markets around you, be it the way something is manufactured, or approaches to bringing in new customers. You’ll need to constantly evolve your thinking and processes to stay one step ahead. What works now may not work next year or even next month. Also, innovation should always be on your mind. But where do you start? Well, it’s a good idea to listen to those employees you’ve hired. They’re on the frontlines, so to speak, they know the ins and outs of daily operations and often experience direct customer feedback. The information they share could be the difference between your business moving with the times and stagnating.

4. Bide your time (if needs be) Whilst I’m sure it’s apparent that not scaling at the right time can be detrimental, I’m afraid to say there is such a thing as growing too quickly. Poor timing can be very harmful, but growing too quickly will leave you with more than you can pay for, while not scaling at the right time could leave you and your business underprepared when things do pick up. It’s best to choose your moments wisely and seek advice. Your planning will help this too.

5. Spread the word Thinking of running your own ad campaign? Go digital. Online advertising is the way to go these days. The rate at which technology is advancing is incredible and only getting faster. Social media platforms like TikTok, Twitter, Instagram, and Facebook all rack up consumers in the millions and billions. Tapping into these sources of exposure can do wonders for your business.

There are, of course, many other steps you can take to scale your SME, but these are some of the most important points. Keep these in mind, and good luck!

Feature Image Credit: Shutterstock.com

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Sourced from Entrepreneur

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The Ultimate VC’s Guide to Creating a Landing Page that Attracts Investors

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By Karnika E. Yashwant

Creating a landing page to attract investors as a VC can be a challenging task, especially in today’s market where safety of the investment is a top concern. With the number of scams and mistakes that have taken place in the industry, investors are looking for assurance that their money is in safe hands. In order to attract these investors, it’s important to understand what they are looking for and update your landing page consistently.

Here are some key factors to consider when creating a landing page that will attract investors:

  • Show the process and steps taken to protect investors: Investors want to know how their money is being safeguarded. This includes information on how due diligence is conducted and any data that supports the process. Be sure to present this information in a simple, step-by-step manner.
  • Include information about the people involved in the investment decision: Investors want to know who they are entrusting their money to. This includes information on the board of members, their qualifications, and how the investment decision is made.
  • Highlight past investment success with specific numbers: Including information on your portfolio and past investments can build trust. However, it’s important to also include specific numbers to show that these investments have paid off. This includes information on how the fund or portfolio companies performed across different market conditions.
  • Include feedback from other investors: Crypto space runs quite a lot anonymously, but when you can put faces out there and build trust that will come in very handy. Include feedback from other members who have been part of the investment for a longer period of time. This can be in the form of videos, audio, or text.
  • Include media publications and other places where you’ve been featured: Any publicity that can help build trust and interest in your fund should be included on the landing page. This includes media publications where you’ve been featured and events where you’ve spoken.
  • Have a structured, corporate-looking website: A well-organized website can attract traditional investors who value structure and trust. However, it’s important to consider the type of investor market you’re trying to attract.
  • Showcase the team’s backgrounds and expertise: Investors want to know that the team behind the fund has the technical ability to understand a project, the ability to foresee the marketing, financial, and compliance side, and diverse expertise in the team.
  • Do not appear desperate or needy: The landing page should clearly state that the kind of investors you’re looking for is not everyone but a very specific type. The more you qualify them, the more boundaries or barriers you set, the more interested the target group would be to be part of it.
  • Create a demand by requiring mandatory training or testing: Funds can require that investors pass a mandatory test or training course before they can invest. This creates a sense of exclusivity and demand that can attract more investors.

Ultimately, every investor segment is different, and it’s important to market effectively and build trust and interest in your fund. By understanding what investors are looking for, creating a structured and organized landing page, and showcasing the team’s expertise, you can attract the right investors for your fund.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

By Karnika E. Yashwant

A prolific writer, KEY brings an insider perspective to blockchain ventures and crypto startups. He shares cutting edge content marketing strategies from his 11 years of management experience. Perfectly balanced in mind and body, he runs marathons, target-shoots, engages in extreme sports and takes a vacation break in 5+ countries annually.

Sourced from Cryptopolitan

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