The Covid-19 pandemic has inspired many people to start their own businesses. In December 2020, it was reported that UK business incorporations had increased by 30% compared to the previous period. Plus, the annual growth rate doubled from June.
Many unique business ideas were born out of a socially distant world, as it has led to an increase in technology, fitness, home delivery, digital wellness and logistic enterprises.
If you are one of the many entrepreneurs born out of the pandemic, you might be ready to take your brand to the next level but unsure where to start. If so, read the below tips on how to scale your start-up with ease.
Outsource Tasks to Freelancers
If your task list is growing longer and your profit margin is growing bigger, you might be eager to hire extra employees to help run your operations. Yet, before you hire a large workforce to tackle your mounting workload, consider outsourcing tasks to freelancers.
As you can pay freelancers on a per-project basis, you will not need to commit your business to a large annual salary that will eat into your profitability. There are various tasks you could outsource, such as:
- Content writing
- Graphic design
- Web design
Find the Right Coworking Space
A coworking space can provide start-up companies with excellent value for money. It will allow budding ventures to rent a flexible space that is shared with other businesses. In addition to providing both you and your team with dedicated desks, you can find co working spaces in Shoreditch that offer access to free meeting rooms, phone booths, superfast Wi-Fi and refreshments. Plus, you and your team can attend free business networking and development events. It will allow you to enjoy all the benefits of a modern office without the expensive lease, and you can network with like-minded entrepreneurs and talented employees.
Ramp Up Your Marketing
If your business is ready to generate a much bigger revenue, and your team can manage an increase in demand, it might be time to ramp up your marketing. To do so, you may need to increase your online visibility.
For instance, you can focus on developing engaging organic or paid social media campaigns, compelling email newsletters, effective PPC strategies, or improving your presence in the search engines to increase web traffic. Your business might provide the best product on the market, but it is pointless if your target market doesn’t know your brand exists.
Hire Multi-skilled Employees at First
It might be cheaper to hire a jack-of-all-trades over an expert in a field when starting out. While you might worry about a dip in quality, a multi-skilled employee could have a firm knowledge of different fields to help your business grow in its first or second year. It will allow you to tick off many tasks for one annual salary. As your profit increases and your company grows in size, you can hire subject experts, and your multi-skilled employee could potentially manage the rest of the team.