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 - November 2021 edition of Entrepreneur.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October - November 2021 edition of Entrepreneur.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Doing Good Is Good for Business
Want to grow your franchise? Invest heavily in your community.
You're Never Out of Options
An entrepreneur's path is never simple or easy-but you have more opportunities than you think.
YOUR NEXT RECRUIT COULD BE A ROBOT
Across the franchise industry, brands are putting AI to use in all kinds of novel ways. From customer service to better marketing and quality control, here's how brands are taking the leap into automation.
'MY JOB IS TO KEEP THIS BRAND HOT'
Taco Bell's new CEO is, in his words, \"not the dictionary definition of a CEO.\" But he has a vision for how to keep their winning streak going.
These Franchise Trends Are Hot!
If you're looking to buy a franchise, start with this list. We break down 10 of the industry's hottest trends, and more than 400 brands to choose from.
How He Opened 10 Franchises in 10 Years
After being laid off twice in two years, Josh Grinstead became a GYMGUYZ franchisee and now makes more than $1 million in annual revenue. Here's his playbook.
Busting 3 Major Franchising Myths
Is franchising really just for the affluent looking for a turnkey, \"easy\" path to success? No, no, and no!
Which Franchise Model Is Right for You?
There are two big ones: You're either a location-based business, or you're service-based. Here's how to decide between them.
Ready to Own Your Own Business?
This magazine is designed to help you. Here's how.
Charities Are Getting Down to Business
Nonprofits are struggling. That's why more charitable leaders are taking a page from their for-profit peers-and learning how to make money.