Ravi Abuvala is the Founder of Scaling With Systems, a business accelerator which works to bootstrap and scale their clients’ businesses leveraging paid advertising, sales funnels and fully-trained overseas assistants. In the past 14 months, he has scaled 2, 7-figure businesses with less than $1,000 of his own capital and 4 commission-based employees. Today he has worked with over 500 firms around the world and placed 630 virtual assistants. He has spoken on some of the largest stages in his industry, been featured on Fox News, Forbes, and Entrepreneur.
How do you scale your business from the beginning with hardly anything to becoming a six to seven-figure business? Episode 62 of The Fearless Business Podcast focuses on scaling your business through systems, as well as how to continue to scale a business during the coronavirus pandemic.
As much as we’d like to hide away from it, living with the coronavirus pandemic is currently the reality of the world that we live in. While you may think it is impossible to grow your business and make money during the pandemic, there are actually many people still seeing a lot of success.
If you are a coach, consultant, or freelancer, then your work probably revolved around being an online business even pre-Covid, and it’s about making the most of that. More people have adapted to the online way of life during the pandemic, with an increase in online learning, courses, shopping, leisure activities, and virtual interaction. If you recognise this change in behaviour and adapt your business to it, then it could create positive results for you.
If you are looking to start or scale your business during this time, it’s also the best time to really invest in your business and develop the best possible offerings whether that is services or products. There’s no denying the financial situation is tough during the pandemic which makes people more conscious about how they spend their money. You have to have an offering that really fits your target market and benefits them.
When it comes to actually scaling your business, it’s easier said than done. You don’t want to fall foul to the common mistakes often seen. These include not identifying your niche or target audience, and not offering specific solutions to specific problems. Being concise matters.
This can be difficult to do at first because it feels like you are removing a massive proportion of people to market to, but in reality, there is so much business out there for you.
Another common mistake is being afraid to invest in marketing your business. If you have nailed your offering and target audience though, the money that does get put into promotion, you’ll see a greater return.
Mindset and limiting beliefs can also be a barrier when scaling your business. Recognising your worth and not underpricing your work is important to realise before putting together the systems to grow your business. Likewise, other mindset blocks to work on including not being afraid of failure, overcoming any imposter syndrome or fear of what your friends and family might think.
A key technique involved in scaling your business is giving time to be proactive not reactive. Most of what you do at the moment is reactive, whether that’s responding to emails, enquiries, or notifications. If you give time to being proactive though, you can focus on what it is that you want to move forward in your business.
For all the reactive work, this is when you really need to look at it and either delegate it, automate it, or even get rid of it altogether, especially if it is something that really isn’t serving you or your time.
Podcast guest Ravi Abuvula also talks about the importance of virtual assistants. While you can take courses for your business and work with people on your business strategy and developing your offerings, you then need to implement what you learn and this is something that can be overlooked.
Working with a virtual assistant gives you the chance to really start creating the sales funnels and advertising for your business, while also having someone to support the reactive side of the business. Once you have those ads and funnels set up and are bringing clients on a continual basis, this then allows you to scale your business even further by bringing in experts in areas such as customer satisfaction and account management.
If there is anything that this latest podcast episode teaches you is that mindset matters. Whether that’s in your reaction to coronavirus on your business, outsourcing work, or being afraid to price up. There’s an intrinsic link between scaling your business and your mindset towards it.
Check out Ravi’s FREE course on How to Scale your Company
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