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How To Scale-Up Your Creative Business and Sell More — Using Ecommerce

How To Scale-Up Your Creative Business and Sell More — Using Ecommerce

Let me guess:

You’re looking to grow your business in leaps and bounds so you never have to work another day in your life, right?

That’s the case with many entrepreneurs. Whether you run a solo business or you work with a team, it’s always the dream to one day have the business make money without much personal effort from your part.

But you’ve probably realized that it’s not as easy as it seems.

Selling your creative service can be hard work, especially when you’re still trading time for money. You want to have more clients but you only have 24 hours in the day…so how do you build that business? You want to start creating your own products so you can tone down client work, but you don’t even have the time for product creation because of the clients you have now.

You’ve probably thought of quitting client work so you can start working on your business, but how will you pay the bills?

Too many questions, not enough answers.

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Well, if you’re looking to scale your present creative business and use ecommerce to really grow that dream, I’ll show you six ways to do it.

But first, why would you want to scale and grow in the first place?

3 Reasons Why You Should Scale

1. You’ll be able to focus on core objectives.

You started that creative business because you had passion and there were things you wanted to achieve. There was a vision you saw that you decided to run with. If not, you wouldn’t have started.

When you have everything in place and revenue starts to come in without your full participation, you’ll be able to “sit your business down” and focus on those core objectives. As Sam Carpenter, author of Work The System said:

“If solid goals are established and the majority of time is spent manipulating systems toward those goals, great results will materialize naturally.”

2. You’ll save time.

Being able to generate revenue for your business without directly trading your time has benefits. If you previously spent most of your day on client work, you’ll be able to tone that down and replace those hours with other important activities.

3. Your quality of service will improve.

This won’t be because you’re investing more personal time in delivering those services. Instead, it’ll be due to the fact that you’ve been able to acquire specialized talent. After all, as the advertising legend, David Ogilvy advised:

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“If you ever find a man who is better than you are — hire him. If necessary, pay him more than you pay yourself.”

That way, everyone stays happy.

How to Scale

So are you ready to scale? Here are the 6 steps you don’t want to ignore:

1. Think big, take action

Sounds cliché right? You’ve probably heard that phrase since you were 10. But guess what? It’s still important.

At this stage, most people daydream for a really long time. Yes, it’s cool to imagine yourself as the next Steve Jobs, but if you don’t do the “take action” part, you’ll only be Jobs in your head.

While thinking, it’s important for you to avoid unrealistic imaginations. Anything is possible, but be careful. You have to think in steps. If your present monthly revenue is barely $20,000, your thought process should be something along the lines of, “How can I make that 10X and what do I have to do to get there in the next 3-6 months?” Not, “In the next 3 months, I’ll work very hard, make $50M and get myself a condo”.

Really? Business growth is not magic.

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2. Determine your value

If you sell services, what’s the way forward? Is it getting more clients or increasing your rates? And if you’re increasing your rates, how can you also increase the value so your clients are encouraged to pay higher?

Note that when you increase your rates, your inflow of clients will reduce and that’s completely okay. You don’t want to work with everyone — only those ideal clients that’ll help you achieve your business goals. As you start to increase the perceived value of your offering by boosting the price, remember to also increase the corresponding intrinsic value.

3. Cut costs down

Since you’re scaling up, aren’t you supposed to be incurring more costs? On the contrary, what you have to do at this step is to get rid of unnecessary costs. You’re probably spending money on unnecessary software and services that you don’t need.

For example, if you use email marketing software like Aweber to communicate with your email list, perhaps paying the yearly plan (instead of monthly) would serve you better. That’ll save you a few dollars.

Using this example, look at other areas of your business where you have expenses and critically answer these two questions:

  • Can my business do without this and still work?
  • How can I spend less on this and still get the same result?

4. Determine your budget and capital

Without a budget, you’ll either spend more than you should or less than required. While cutting down on costs ensures that you don’t keep creating unnecessary expenses as you grow, having a growth budget ensures you increase expenses on the right things.

Your capital depends on how much you need to grow at this point. Will you be building a team? How many people do you need and how much will you pay them? Laying these figures out would give you a financial goal to work towards, especially when you’re not generating much revenue yet.

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You’ll 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’ll prevent you from unnecessary expenses in future.

One good example of this is getting insurance, in case of any catastrophes. You can shop around for the cheapest insurance rates that’ll give you some peace of mind.

5. Get the best tools, hire the best minds

It’s going to be harder to manage contingencies when you grow, especially if you don’t get the groundwork right. If managing an arrogant team member is hard work, how would managing four with the same attitude be?

If you’re looking to outsource business tasks, ensure you outsource the right ones. Depending on your business needs, you’d want to outsource some of those tasks to the best talent using sites like Upwork or Freelancer.

If you’re looking to equip your website to be able to sell your creative products, then perhaps you should consider hiring a developer to install some premium plugins, or use simple landing page solutions like Spaces or Big Cartel — which are specifically built for creative people like you.

6. Scale!

How? By bringing all your plans and actions from steps one to five together. Now that you’re clear on your figures, you’ve gotten the best tools and hired the best minds, it’s your duty to kick off the whole process. However, without the right systems and documentation in place, you’ll find yourself working more unproductive hours.

That’s it! You’ve successfully taken the first step by reading this article. Your next step is to start from Step 1 and start laying those concrete plans down on paper. It’s not enough for you to get revved up by this and do nothing. The benefits of scaling are endless. And even though the process may take several months, you won’t have a taste of those benefits unless you take action.

So go get started!

Featured photo credit: Giuseppe Milo via flickr.com

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Published on September 17, 2018

How Being Smart With Your Money Leads to Financial Success

How Being Smart With Your Money Leads to Financial Success

Achieving financial success is not something that just happens. Maybe if you win the lottery or something, but for the average person like you or me, it comes from a series of small steps you take over a long period of time.

With each step, you form a new smart money habit. And with each smart money habit, you build towards financial independence.

So what sort of habits can you form to get on that path? Let’s take a look at smart money habits you can start today to get you closer to a financially independent future.

1. Avoid being “penny wise but pound foolish”

It’s tempting to try saving a couple cents here and there when buying small items. However, that’s not where the real money is saved. You’re putting in extra effort for something that doesn’t move the needle.

You get the most bang when you’re able to cut down on your bigger bills. For example, finding a lower interest rate for your mortgage could save you $50+ per month. And cutting your transportation bill by purchasing a cheaper car or taking public transportation can provide large gains as well.

So, look at your recurring expenses such as housing, transportation, and insurance, and see where there’s wiggle room. It’s a much better use of your time than trying to pinch pennies here and there on smaller purchases.

2. When you want something big, wait

Impulsivity can get you in trouble in most aspects of life. Finances are no different.

It’s human nature to see something and want it right then and there. It starts as a kid in the checkout line at the grocery store, and it continues on through adulthood.

We get an idea in our head of something we want, and it’s hard not to go out and get it right then.

A good example is wanting a new car. Perhaps you’ve had your car for several years. It’s crossed the 100k mile mark. Maybe maintenance is due, and you’re annoyed that you need to replace the timing belt or purchase new tires.

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So, you get the itch.

You start digging around online, and you realize you could trade in your current car for something newer and more exciting… all for a few hundred bucks a month. Then you get obsessed.

Here’s where you have to take a step back.

Your newfound obsession is clouding your judgement. Rather than giving into the impulse, wait it out.

Set a timeframe for yourself. Maybe you come back to the decision three months down the road. See if the obsession lasts.

It might, but often, a funny thing happens. Often, you forget about it. And often, you find that the new car wasn’t a need at all.

The impulse faded. And you just saved yourself a ton of money.

3. Live smaller than you can afford

You finally get that big raise. And you want to celebrate – and why not?

You’ve been looking forward to this forever. And after all, it was all due to your hard work.

That’s fine, splurge a little. However, make it a one-time deal and be done.

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Don’t get caught in the trap that just because you’re now making more money, you should spend more.

Too often, people get more money and feel like they that gives them the means to buy a bigger house, a bigger car… you know the drill. Resist.

The fact is that living smaller than what you can afford is one of the fastest ways to build savings.

But if you constantly upgrade as you begin to make more, then you’ll never get ahead. You’ll just build up more debt along the way and have just as little wiggle room as before.

4. Practice smart grocery shopping

Food… it’s one of the biggest portions of any budget. And if you’re not careful, it can be one of the biggest drains on your wallet.

But luckily, there are a few things you can do to ensure that you stay smart with your money when buying groceries.

Create a grocery budget

Set a strict weekly grocery budget. When you know how much you can spend on groceries, you can then plan your weekly menu around it.

Once you know what all you need, you can go shopping and keep a running tally as you shop to ensure you’re on track.

I tend to do this in my head, rounding for each item. However, writing it down as you go would probably work best for most people.

Make a list… and never deviate

Never go to the grocery store without a list. If you go to the store with a ballpark idea in mind, you don’t have a true ide of what you need.

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You’re not well-researched. You don’t know what the sales are. As a result, you’re going to make decisions on the fly.

These impulse decisions will lead to overspending, which will derail your grocery budget.

Eat before going grocery shopping

It’s also important to eat prior to going to the grocery store. Hunger is a powerful force.

If you’re shopping on an empty stomach, everything is going to look good. In particular, you may find a lot of ready-made, processed snacks will look enticing.

After all, you’re hungry now and that food is easily available. So subconsciously, you may lean towards those items.

Unfortunately, not only are those items typically less healthy, but they’re likely more expensive. You pay for convenience.

However, when you eat prior to shopping, then you’ll shop with a clear mind. Your hunger won’t cloud your judgement, influencing you to make poor decisions like a cartoon devil resting on your shoulder whispering in your ear.

This makes it much easier to stick to your grocery plan.

5. Cancel your gym membership

Now that you’re all set on your food, it’s time to get smart about managing your budget in terms of physical fitness. And let’s begin by avoiding the gym. The gym bill, that is.

The average gym membership costs around $60 per month. That’s $720 a year.

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Yet, two out of three gym memberships go unused. That means two-thirds of people who have a gym membership are literally giving away almost a thousand bucks a year. It’s crazy!

I recommend seeking an alternative. One good alternative is to look into fitness streaming services.

Streaming services allow you to stream hundreds of workouts like Insanity and p90x, right in your own home for around $10-20 a month. That’s $40-50 less a month than the average gym membership.

Of course, then there’s the free option. The internet is full of free workouts that you can do on your own with minimal or no equipment.

For example, there’s the Couch to 5K program, that I personally used a decade ago to ease myself from couch potato to running my first 5K race. If I could do it, anyone could.

Then there are free resources like reddit that have limitless information on workouts. The Fitness subreddit has done all the research for you, populating workout tips and detailed workout routines for anyone to use in their wiki.

There are several routines that require no equipment. And you can join in on the subreddit to become part of the community, making it easier for those seeking comraderie and encouragement in their fitness goals. All for free.

It’s baby steps… And baby steps can start now!

I’ve never met anyone that can’t stand to be a bit smarter with their money. And on the flip side, anyone can get smarter with their money. But remember, it doesn’t happen all at once.

Begin by fighting your impulses. Prepare for the week and be smart at the store. And cut monthly expenses like gym memberships that are overpriced and you probably aren’t getting your money’s worth out of anyway.

The devil is in the details. And the details can change your lifestyle and prep you for a financially independent future.

Featured photo credit: Unsplash via unsplash.com

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