How to grow any business lightning fast

Author

Sven Milder
July 24, 2023

Reading Time: Approximately 4 Minutes

How to Grow Any Business Lightning Fast?

Hey.

In the last 8 weeks, I've managed to acquire two businesses—an e-commerce DTC business and one ISP (internet service provider).

I will share my turn around plan for these 2 bad boys in future newsletters, but for today, I’d like to share some growth strategies.

Under 5 minutes you’ll learn:

  • 4 Business Growth Levers that are at Your Service

  • How to Grow Any Business Lightning Fast

  • The importance of consolidation before massive Growth

  • 2 Methods to Expand Your Business into South East Asia

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4 Business Growth Levers at your service

You want business growth, but what is your true plan?

  • Seeking for equity funding? Then focus on Revenue Growth.

  • Attracting interest-based funding? Then Prioritize Margin Growth.

  • Propelling word of mouth? Then Concentrate on User Growth.

  • Aiming to exit your business? Then target EBITDA Growth.

Based on the answer you’ve selected. Let's explore some growth ideas. Please bear in mind that working on one lever may impact others:

For Revenue Growth:

  • Increase your prices by 5-10%—your customers won't likely notice.

  • Acquire your competition—the easiest way to boost your topline.

  • Focus on customer retention—selling more to existing clients is easier than acquiring new ones.

For Margin Growth:

  • Renegotiate for a 10% cost reduction and longer payment terms with suppliers.

  • Optimize your supply chain—remove, simplify, or automate processes.

  • Focus on high-margin products (digital) and phase out low-performing ones.

"In the pursuit of success, focus on customer retention—it's the key to selling more and scaling your business lightning fast." 💼💪

Sven Milder

For User Growth:

  • Advertise low-cost products at the front end, leading to clear back-end upsell opportunities.

  • Kick off an affiliate or referral campaign with existing customers.

  • Expand and enter new markets.

Implement margin & revenue growth strategies, you'll witness improvements in both your top and bottom lines, leading to better company health and EBITDA Growth.

Sven Milder

The importance of consolidation Before Firing Up Your Growth Engine

To ensure your growth doesn’t turn into your down fall

  • Share your growth plans and goals with your team to gain early feedback and buy-in.

  • Analyze the impact growth will have on your back-office, cloud space, and processes.

  • Battle-test your systems and processes before hitting your growth button to maintain a seamless customer journey.

"Embrace simplicity and catapult your business growth by doing more of what works and less of what doesn't."

Sven Milder

2 Methods For low Cost Geographical Expansion

Last week I spoke with Viktor Kyosev, chief of Staff at Docquity who is a true specialist when it comes to market entry in SouthEast Asia.

South East Asia offers a massive business growth opportunity for founders of all kinds, specifically in the b2b tech, and online space.

But before just setting up shop in a region where you are unfamiliar, don’t have clients, teams and partnership (yet), you want to dip your toes in the entrepreneurial waters first before allocating your budgets

The cheapest methods to explore new geographies

  • Fly-in Fly Out: Costing $25,000 per year, this method involves trade show visits, client and partner meetings, and community connections.

    You’ll get a sense of the business climate

  • Hiring and Outsourcing Business Development Team: For $50.000 - $125,000 per year you’ll get access to an outsourced sales team, this option will help you gain early sales traction with an outsourced sales team on the ground.

❝

For our FoundersTribe Pro members, please visit FoundersTribe, I recorded an 18 minute Founders MBA with Viktor giving you strategies how to expand to South East Asia, successfully.


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That wraps up this week's newsletter.

Have a magical day! Cheers, Sven

4 Ways to FAST TRACK Your Business Growth: