Business growth is always one of the goals of any entrepreneur. But with it comes a growing customer base you will have to satisfy and meet their demands accordingly, thus ensuring you are able to deliver quality service consistently.
Naturally, most entrepreneurs will consider expanding the team to keep up with the increasing number of customers and cope with demands. But hiring more people may not always be the smartest move to make for various reasons, for example, if you are operating with limited capital.
There are ways to scale your business without hiring more people. Read on and see how they can apply to your business.
When you outsource segments of your service delivery, you’ve entered into a business partnership with another firm. This works by a contract basis and the package is customisable to your business needs. At the same time, you can benefit from professional expertise and knowledge readily – which works differently as compared to putting in time and resources to train an employee.
For instance, hiring an accounting firm in Singapore allows your bookkeeping and other accounting services to be professionally handled so that you can focus on your core business. Besides outsourcing professional account services, you can do the same for customer service activities and other non-essential processes in the production line and scale your business without hiring more people.
Singaporeans spend more than 60 percent of their time on the digital space. They are either on social media, buying stuff online or using the web for personal and professional purposes. That means you can interact with clients online, offer product support, and other vital services such as training and education via chatbots and other AI-powered communication tools.
You can also automate customer acquisition processes, such as email marketing and social media management. One thing is certain; technology today is increasingly taking over mundane and repetitive tasks, freeing you to focus on your business.
3. Scaling the Customer
When customer numbers grow exponentially, it can be a problem for the business owner, especially when there are only a few resources to serve the extra numbers. This is where self-serving customers can aid your business. Besides outsourcing customer service agents, you can reduce the number of incoming requests with a FAQ page. Having a knowledge base that contains answers to frequently asked questions for customers to refer to can come in very handy.
4. Scaling the Product
Business growth does not always mean increasing the number of customers. It can also mean increasing what a customer can buy from you. For example, if you’re selling cosmetics and skincare, you can offer related accessories such as brushes and hairband. This way, one client is able to buy two or three more products from you. Your sales and revenue will go up, but you won’t be required to hire more staff to support extra customers.
If you require any assistance on accounting services, feel free to drop us an email at email@example.com or contact us at +65-66358767. At Ackenting Group, we offer a complimentary 30 minutes online consultation for us to better understand your business requirements.