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what are the cost effective methods to scale up a small business?

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That depends on your business.  Lets say you sell a product.

-Have you defined your market segment?

-How much of this segment have your already reached?

-Do you have the inventory to support the segment?

-Is there demand for the product? are you pushing the product out or is it being dragged off the shelves?

-Lookup Business Model Canvas by: Alex Osterwalder for a template

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In my experience a website (with Blog), LinkedIn, Facebook and Twitter provide a well-rounded digital marketing experience, but don't forget traditional marketing techniques. Keep in mind that social media isn't free as you evaluate cost effectiveness. Your time has a value!

Online Marketing Ideas: Blogging, Content Marketing, Email Marketing, Media Marketing, Meetings & Webinars, Reviews & Testimonials, Search Engines, Social Media, Social Media Tools, Video, Website Monitoring.

Offline Marketing Ideas: Direct Mail, Event Marketing, Free Giveaways, In Person Branding, Networking, One-On-Ones, Public Speaking, Writing A Book.

Finally, there is a website I often recommend that has annually been offering a list of 100 FREE Marketing Ideas. Check out www.100FreeMarketingIdeas.com.

Dr. John Elcik, The Pragmatic Web Designer, identityXperts

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Make your business look professional. Look at other business that are already well established and make it similar and innovate from what they have. 

Perception is reality.

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+1 to Timothy's answer.

Remember that scaling up a business is challenging and achieved only by very specific, targeted discipline.  Being all things to all people will not work.

 

Use sales revenue to fund growth - remember that scaling up costs capital - you can't "Get bigger" for free. 

 

Maintain accurate financial records so you know where your money is coming from and going to.  Determine if where you're investing your revenue is yielding the necessary returns. 

 

Achieve a grasp of the financials and align them with the market research.  Be targeted, and be bold... and as Steve Ballmer said, also be right.

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