Q What are innovative ways to scale a business that most people don’t discuss?
—DIANA, CHICAGO
THE FIRST RULE of scaling a business is “Don’t worry about the rules of scaling a business.” If you’re copying others, then you’re always following their lead, which means you pick up breadcrumbs instead of getting the loaf. Instead, look for the leverage only you can create.
That requires an innovative strategy on three fronts: positioning, pricing, and people.
Let’s start with positioning. Look at your three biggest competitors and make a list of the problems they solve and why they exist. Now add yourself to the list, but don’t think about how you’re better than them. Think instead about how you’re different—because remember, you don’t want to be competing.
This story is from the October 2021 edition of Entrepreneur magazine.
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This story is from the October 2021 edition of Entrepreneur magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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