The future of any business relies on its ability to scale. It takes a tremendous amount of planning, coupled with action, to effectively scale a business and build it into a real powerhouse with guaranteed revenue. While it is essential to learn how to do this, it’s even more critical that you learn from the right person. Motivational speaker Mike Luzio shares his top five tips on how to accelerate growth and scale your business accordingly.
Mike Luzio is a well-known entrepreneur and influencer, whose company LVE Group focuses on speaking engagements, consulting, and angel investments. After bootstrapping his company and scaling it from $15K to $50 million, Luzio turned his focus towards helping other entrepreneurs do the same. “When it comes to scaling a business, it’s all about harnessing the power and accelerating growth,” says Luzio.
“Take a good, hard look at your company’s current state and identify your strengths and weaknesses,” explains Luzio. “Zone in on what is working and what is not, and adjust accordingly. You must get rid of dead weight, find your niche, and go full throttle on what is going to bring in repeat business.”
“Once you’ve taken a good hard look at the state of your business and truly understand where you stand in the market, make your plan,” asserts Luzio. “A business without a clear plan is no business at all. Define your goals, determine how you are going to get there and communicate effectively to your team so that everyone is clear about expectations from day one.”
“With a plan in place, everyone knows what they need to do to work together towards the company’s main goals,” explains Luzio. “Make sure this is crystal clear and do not waste your focus or resources on anything that you don’t think can be scaled in your evaluation phase. Time is money. Do not waste it. The more focused you are in this phase, the faster you will scale.”
“This might sound obvious, but it is worth pointing out because we are talking about seamlessly integrating increased sales into your newly refined business,” explains Luzio. “Look at your new and improved business as a refined machine and start closing as many deals as you can. You are in a better place to deliver on promises you’ve made to your clients, and now is the time to show them.”
“A successful business relies on repeat business. This is an indisputable fact,” says Luzio. “You might close a deal, but the work is never over. It is your responsibility to cultivate a trusted relationship that keeps the client coming back for more. It’s not enough to make one sale. Strive to make multiple sales with the same clients and accounts.”
Luzio continues to inspire young and experienced entrepreneurs alike to grow their businesses through both his Instagram account and YouTube channel. He innately understands sales and loves seeing businesses—and people—reach their full potential. Mike Luzio is more than just an expert or influencer; he is a tried and true salesman who shares his expertise because he’s been through the ranks.