Getting a business up and running is hard enough but maintaining its growing is another challenge all together. Sprout All Star, Krista Whitley, has grown her Las Vegas-based business, Social Media Unicorn, from scratch. During this week’s #SproutChat, Krista offered advice based on her years of experience in growing her agency and persona brand. Learn more about Krista’s journey and take note from her success and advice.
Set up a Foundation for Success
Before building your business and deciding on its focus, set yourself up for success by having all of your ducks in a row. Draft a business plan, talk to those who have done it before and ensure you have your financial and legal resources solidified before jumping in. Know who your competition is and create marketing materials that speak to why you’re brand is different. And, always remember that confidence is key in scaling growth and securing new customers.
A1: I recommend 2 things when prepping for growth: know thyself & lay a solid foundation of diverse entrepreneurial experience. #sproutchat
— Krista Whitley (@SocialKrista) February 8, 2017
A1 Ensure your business provides value & stands out from what exists #sproutchat
— Caitlin Waters (@Cait_Waters) February 8, 2017
A1: Don't start backwards. Have the team you need in place before you get overloaded. Digging yourself out wastes precious time. #SproutChat
— Jeff Higgins (@AnnaMariaSocial) February 8, 2017
A1. Hire a passionate team that stands behind what you're doing and will be there every step of the way! #SproutChat http://pic.twitter.com/dp1OZXoWJy
— Sarah Guenther (@slguen) February 8, 2017
A1: What the future of the industry looks like and your willingness to adapt to changes in the industry as they come. #SproutChat
— Shannon O'Connor (@shanoconnor_) February 8, 2017
Get Ready for Growth by Taking These Steps
Once you’ve established your business, know how you’re going to maintain, grow and scale your organization. It’s better to figure this out when things are slow, rather than when you already have too many projects to handle. Don’t make decisions hastily just to get something checked off your list. Always look to improve your business by researching qualified candidates, new opportunities and revised tactics and methodologies. If this is an ongoing process you should have most–if not all, of the resources at your disposal when it comes time to expand.
A2: One of the keys to fast growth for all of the organizations I've created is to answer the question of scalability early on. #SproutChat https://t.co/OVx4Yo9kjL
— Krista Whitley (@SocialKrista) February 8, 2017
A2(2): Your vision for the business you are building should scare the crap out of you. #SproutChat http://pic.twitter.com/0cWQyaufu3
— Krista Whitley (@SocialKrista) February 8, 2017
@SproutSocial A2: Being able to hire more staff to account for growth is important. You never want to overcommit & underdeliver. #SproutChat
— Sortis Marketing (@SortisMarketing) February 8, 2017
A2 Identify & market value prop, target audience, competitors, scalability, budgeting, PATIENCE #sproutchat
— Caitlin Waters (@Cait_Waters) February 8, 2017
A2 Understand your personal limitations to deliver. If "you" are the product create an army of you lights for a tiered offering. #sproutchat
— Michelle (@michelletweet) February 8, 2017
A2B Save some ideas for a later time when you have the bandwidth required. Don't do it all at once. Grow steady, not unready. #sproutchat
— Michelle (@michelletweet) February 8, 2017
Prepare for the Inevitable Speed Bumps
No matter how much you do to prepare, you’ll undoubtedly face challenges. If things aren’t going in the right direction, audit these business areas and look for ways to improve them. Don’t allow doubt and frustration to take down your organization but always maintain a realistic perspective of your business’ health.
A3: In the first year of a fast growth #business it's key not to get caught up in the day to day ops. Think bigger. #SproutChat http://pic.twitter.com/W0ZZap2QEx
— Krista Whitley (@SocialKrista) February 8, 2017
A3b: The hardest lesson for me as a leader was that leaders don't lead. They grow other #business #leaders. #SproutChat http://pic.twitter.com/eOCoPT71oj
— Krista Whitley (@SocialKrista) February 8, 2017
A3c: The greatest opportunity you have to build a fast growth organization is to build an organization of leaders who lead. #SproutChat
— Krista Whitley (@SocialKrista) February 8, 2017
A3 Have a plan to deal with all Customer Service issues that may arise #sproutchat http://pic.twitter.com/IPiGCCReNR
— Christopher T. Burns (@burnzie333) February 8, 2017
A3: At some point, you will feel discouraged that your business isn't growing as fast as you'd like, but you have to keep going. #SproutChat
— Express Writers (@ExpWriters) February 8, 2017
A3. And even if you hate your full time work, see it as them funding you to build your business #sproutchat
— Cheval John (@chevd80) February 8, 2017
A3. Data, data, #DATA! Make your business decisions based on solid truths. #SproutChat
— NEWMEDIA (@newmediadenver) February 8, 2017
A3: Speed bumps are inevitable & often unpredictable (AKA Murphy's Law). Focus on your WHY. ❝It's a marathon, not a sprint.❞ #sproutchat http://pic.twitter.com/8TCZBvjf54
— Susanna Conway 🦄 (@ohsusannamarie) February 8, 2017
Growth to Large Proportions Isn’t for Every Business
The idea of exponential growth is romanticized. The idea of “success” is projected as employing thousands and being international. While that definitely is the dream of some business owners, it doesn’t have to be your dream. Scaling to that level takes a lot of resources–time, financial and otherwise. Pay attention to your numbers and determine where your sweet spot is because sometimes a business will be more successful by being smaller.
A6: Not every organization is meant to grow quickly- nor should it aspire to this. #SproutChat http://pic.twitter.com/dXHk5eexi5
— Krista Whitley (@SocialKrista) February 8, 2017
@SproutSocial A6. It's like we keep trying to tell guys, it's not always the size that matters. #SproutChat http://pic.twitter.com/UTQIq8aSno
— Niki Hale (@slinkywhat) February 8, 2017
A6: There is a balance to all things and, as one of my mentors reminded me, “Some people are just drawn that way.” #SproutChat http://pic.twitter.com/tNb0MAeqKO
— Krista Whitley (@SocialKrista) February 8, 2017
A6: Find your balance. Define the lifestyle you want. You should drive your #business– not the other way around. #SproutChat http://pic.twitter.com/v0ZQlcXTWK
— Krista Whitley (@SocialKrista) February 8, 2017
@SproutSocial A6: Not necessarily! The size of the business needs to go along with the budget & size of the management team. #SproutChat
— nicole (@nicolemaries__) February 8, 2017
A6. A great book that shatters the myth of marketing classes is called "rework" by @37signals #sproutchat
— Cheval John (@chevd80) February 8, 2017
A6 I think it depends on a number of factors. trends, competition, and are you meeting your quality standards? #sproutchat
— Dan Wedin (@danwedin) February 8, 2017
Stay Focused
Keep your eyes on your goals, treat your employees well and always be kind. Running a business is hard work. But at the end of the day it’s incredibly rewarding. Seeing the fruits of your labor from can be much more gratifying than working for someone else.
A4 I don't think you can ever ensure growth. Preparedness + opportunity = LUCK and fast growth #business requires luck for sure. #SproutChat https://t.co/MYhRTdyCG2
— Krista Whitley (@SocialKrista) February 8, 2017
A4: As a fast growth #entrepreneur data has become my best friend. Let the data be the fuel for your passion. #sproutchat http://pic.twitter.com/PH2fdbIqvT
— Krista Whitley (@SocialKrista) February 8, 2017
A4a: @Ironmanjack wrote in Hyper Sales Growth that all sales relationships can be replicated by good systems. #sproutchat http://pic.twitter.com/YeEwEWz6zJ
— Krista Whitley (@SocialKrista) February 8, 2017
A4c: Love the relationship, grow it, embrace who you authentically are, but be present in the data. #sproutchat http://pic.twitter.com/Ka6u3ULnPn
— Krista Whitley (@SocialKrista) February 8, 2017
A4d: Be aware of how you spend your time, of what systems you have built, and constantly- literally 24/7, every hour of the day. #sproutchat http://pic.twitter.com/iYfom5ooWz
— Krista Whitley (@SocialKrista) February 8, 2017
@SproutSocial A4: constantly exploring new and potential customers while building relationships with your current markets #SproutChat
— Paige Sander (@PaigeS_Jour) February 8, 2017
A4 fall in love with industry specific #bigdata sources and get obsessed. #sproutchat http://pic.twitter.com/hkfet1lPeG
— Brittany Magnin (@brittmagnin) February 8, 2017
A4: Be wise, but fearless. Always. #SproutChat http://pic.twitter.com/5CQc2a7a6y
— Venture Icon Media (@VentureIcon) February 8, 2017
A4: Consistency trumps everything. be good, be bad, be poor, but be there. Time after time. People don't like change
#sproutchat— Eat Drink Stay Dubai (@EatDrinkStayDXB) February 8, 2017
A4: Have the right people on your team! Motivated and passionate people are essential for business growth. #SproutChat http://pic.twitter.com/VMuJkyrUJB
— Driven Local (@DrivenLocal) February 8, 2017
See you next week on Wednesday, February 15 at 2 p.m. CST to discuss Productivity for Marketers with special guest, Lolitta Gevorkova, Social Media Specialist at Evernote. Until then, chat with other members of the community on our Facebook Group.
This post #SproutChat Recap: How to Quickly Grow Your Business originally appeared on Sprout Social.
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