How To Scale Your Business Without Relying On Investor Money Or Having Deep Pockets!
If you’ve successfully been in business for a while. And you’ve managed to weather a few stormy financial moments.First of all, major congrats. But now, your mind tends to drift towards. How to successfully scale your business or service, correct? Absolutely.
Or to make enough money in a relatively short period of time. So you can cash out and get on with the rest of your life.Right? Sure, what profit seeking entrepreneur, hasn’t had those particular thoughts at some point.
In the meantime. As you continually attempt to grow your business or service. Isn’t it a comforting feeling to know, when the time does finally arrive. And you definitely need to become totally serious about scaling your operation.
You definitely don’t have to rely on overly restrictive investor money or their policies.Or locally or regional banks of any kind. Instead, you can form, some type of mutually beneficial cross promotions or (JV) Joint Venture arrangements. Just like the ones you’re about to discover.
Who Says The Only Way To Successfully Scale Your Business Is Through Potentially Restrictive Investors!
Maybe that’s what they teach at the fancy business schools. But truth told.Here’s the deal. Let’s say there’s a local, Mom & pop, single local, independently owned. Family style restaurant.
And the odds are pretty darn good. At least 98% of them or more.Will never, ever scale or grow their restaurant business, into anything remotely resembling an empire. In fact, the vast majority of them. No matter how hard they work, will ever own more than one restaurant at a time.
For lots of reason. Even with this being the case. There’s still, lots of potential, non utilized, or hidden profit centers if you will. Currently buried within their business, just waiting to be discovered.Say what? That’s correct.
And let’s say, the owner(s) of a local, single location, retail appliance center.Are extremely big fans of quesadillas. So it’s no wonder, they are incredibly fond of this one particular, family orientated Mexican restaurant.
And after getting to know the husband and wife owners over the years. One particular day, they have a lightening bolt of marketing inspiration.
There Are Literally Tons Of Local Businesses Or Services Which Can Or Should Become Potential Joint Venture Partners!
First of all. Since you’ve already run your stores numbers.You are keenly aware of the fact. Your ideal customer, has a total lifetime customer value metric, of somewhere between, $2,500- $11,000 dollars.Give or take over the next five to seven year period.
Which means, your marketing/promotional budget.Can easily afford to test, what you’re about to propose. Basically, you inform the owners, rather than to continually spend a ton of money, on outrageously expensive, direct snail mail, one or two sided post card campaigns.
Or spending another fortune, on local prime time, radio or TV ads. Or expensive local Sunday newspaper inserts etc.
Instead, here’s one of the marketing strategies, you’d like to inexpensively test. Because if all goes well. Both you and their business will be much more profitable.A whole lot faster.
And of course, they’re all ears. You’d like to initially invest in buying 1,500 – or X- number of Xtra large plastic, “Big Gulp” cups.Huh? And you’ll also pay the extra expense, to have the restaurants name put on them.
And here’s phase one. Any time a customer orders any size beverage. Your waiter or waitress, brings their beverage. But also brings back one of these Xtra large plastic “Big Gulp” cups with them as well. Say what?
You Keep Over Delivering And watch How Fast And How Wide Your Best And Most Loyal Customers Constantly Spreads The Word!
Of course they’ll be initially quite surprised. But wildly curious, as to ‘what’ the heck is this all about.Don’t you agree? Absolutely. So here’s the deal. Your waitress or waiter gladly informs them. Going forward.
Anytime they bring the mug with them. If they happen to come alone, they save 10% off any and all beverages they personally order. However, every time they drag a friend with them, whose at least 18.
Any Xtra large beverage they order. No matter what it is. They only pay .99 cents for it. And every guest in their party, whose over 18. They automatically save 20 or X% off any beverage(s) their order.
Obviously, you explain to the owners, this particular marketing strategy, is designed to generate some continuous, positive word of mouth buzz. Both on and off of social media.
But here’s where it gets very interesting.Of course you’re in business to make money too, right? No doubt.
Who Says You Can’t Or Shouldn’t Profit While Helping Others In The Process!
Here’s where your potential profit making opportunities initially come in. You’d like to place, a closeout, 65 inch TV in their lobby. And have their customers, go to a lead capture page on your website.In order to enter your monthly free drawing.Bingo!
And your monthly free drawing, is just for this particular Mexican restaurant mind you. Plus, if it’s not too confusing.You’ll also have a fish bowl, where local business owners, can drop their business card. For a chance to win their own 65 inch, flat screen TV as well.
So as you’re building your opt in email/mobile marketing list, larger and larger, every month. Plus, you’re strategically building an entirely different, offline database of local business owners/service providers.
Once a month or once a quarter. Two 1st grand prize winners will be selected and notified. And of course. Each month, all 99% of the runner ups, will be notified, via opt in email or text, about their extremely time sensitive discount coupons.
As well as, a couple of nice, totally unexpected surprises.But more on that, coming up shortly in part two.Okay? Thanks. Hopefully, you’ve discovered, how to successfully scale your business or service.Without investors or local bankers.Right?
Let Your Major Competitors Chance Potential Investor Money! (And Continuously Jump Through All Of Those Hoops!)
P.S.Now as is customary during this part of our show.Please share your extremely valuable comments (in the comments section below) that you can apply to your business,product or service in the next 30 days or less!
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