3 key things tech businesses need to master to scale

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Here are the 3 key things you need to keep in mind in order to scale your tech business:

1. Creating sales flow

Source: Christopher M Duncan

Most entrepreneurs are in client uncertainty and cash-flow anxiety. If businesses mastered sales flow and had a healthy flow of leads, clients, revenue and cash, then investment or debt would not be necessary, unless a significant growth target is being pursued. Furthermore, when such companies do seek funding they will experience far better terms as they have already proven strong revenue generation capabilities.

Sales flow can be achieved, but it is not as simple as flicking on a pay-per-click campaign or creating ‘viral content’. Everything starts with the customer. Who is your ideal client?

For most businesses, they believe they do have an ideal client. However, in order to create sales flow, you need to identify your ideal client in such detail that your message and your solution is highly customized for them and you stand out in your industry. Trying to target everyone equates to targeting no one.

When you know your ideal client, then you can position your business for profit with the right offering. This is the start of the lead tap which allows businesses to create leveraged or automated marketing funnels.

2. Mastering high ticket sales

Source: Christopher M Duncan

In many cases, it costs the business more to acquire the customer than the profit they get out of the customer – basic calories in, calories out. They’re on a food deprivation diet, and they won’t survive long if it persists.

Those that are profitable, realise that beyond high volume and small profit margins, they need to implement high-ticket offerings, for example a big consulting offer for high-value customers, which create much more profit for the company from existing customers in the database.

With a proper value ladder, as it’s called, a business can become far more profitable, and the owners are able to not only free themselves of financial burden, but also deliver more value to the market.

Another aspect of high ticket sales is to be able to sell to more than one person at a time. You already see some tech companies doing this with live or pre-recorded webinars which explain their solutions and invite viewers to a trial, consultation or a direct subscription.

3. Have it work without you