Summarize:

Look at what you’re selling each month and each year, on average. To scale the business, you’ll need to imagine your numbers doubling or tripling overnight. Work with your bookkeeper or accountant to get the most accurate information.  Hire an accountant if you don’t already have one. You can ask another business owner to recommend their accountant, or you can contact your state’s accounting society. To really grow, you need to stand out from the competition. Your current business might be doing all kinds of different things. Identify which one you do best. Your ability to effectively compete for clients will depend on identifying your strengths. For example, you might run a day spa where you give massages, pedicures, and skin treatments. You might excel in one area, which can be the focus of your growth. Based on your current sales, estimate where you think you can be within the next year. Break down your forecast by customers, orders, and revenue. Also include a monthly forecast. Sales forecasting is an art, not a science, and involves educated guessing. However, you can use your competitors as benchmarks. How large have they grown in a year? Did they double their sales? Triple? Or does your industry grow much more slowly? To grow, you need to find new customers. Study how your competitors find leads. Are they advertising on television or online? Consider the following methods of drawing eyeballs to your business:  Create a newsletter and have a sign-up box on your website. Put out a newsletter once a month or at least every quarter. Start conversations with key people in your industry using social media. Twitter is a great way to connect. As they get to know you, they can sing your praises. Reach out to the media. Don’t make a PR pitch, but tell your story in an authentic manner. The journalist might write up a story about you, which will increase your visibility. More people will visit your website than will buy from you. To grow your business, you need to convert more visitors to paying customers. Consider the following strategies:   Increase the content on your website. Provide information that is useful, such as how-to articles. For example, if you run a dental office, you can write articles about at-home care. This is a great way to showcase your expertise and give customers some idea about your communication style. Get product reviews. Ask your current customers to leave a review on websites such as Yelp, and then feature positive reviews on your website.  Write and give away a free eBook that showcases your expertise. Give away free samples of your products or services, or offer coupon discounts to encourage them to return. Also find ways to “upsell” added products or services.  For example, if you are a dentist, you can ask customers if they want to buy an electric toothbrush, teeth whitening, or veneers. If you are a florist, you can ask customers if they want a larger bouquet for just a few dollars more. With fewer customers, you might have had sufficient time to track down customers who were late with their bills. However, if you grow rapidly, you’ll have much less time and many more unpaid invoices. Investigate how you’ll improve bill collection. You might not know how to increase your sales. Find a mentor who is experienced in your industry. Meet with them to discuss your goals and ask their advice about how you can increase your revenue.   Find a mentor using Micro Mentor or Score Mentoring. These websites connect small business owners with mentors. You can also find potential mentors by joining professional or industry associations. Remember to ask them upfront if they are willing to be your mentor. The relationship will be more satisfying if you are clear at the outset about what you need.
Analyze your current sales. Focus on what you do best. Create a sales growth forecast. Generate more leads. Improve your online conversion optimization. Encourage customers to spend more. Ensure invoices are collected. Work with a mentor.