In this post, I’ll walk you through a case study on strategy for scaling a business. We’ll observe today’s successful companies, and I’ll walk you through what I see as the three main strategies a company can take to scaling a business:
- The first strategy is to make your operations more efficient.
- The second strategy is to leverage the network effect.
- The third strategy is to repackage and repurpose, where you modify one or more products or services to make them more suitable for a specific target market.
#1: Improve operations
The first strategy is to become more efficient. If you’re in a highly competitive market, it’s easier to scale a business if you improve your operations.
You can do this by streamlining operations or by improving the operational efficiency of your processes that drives the supply chain. Today, full-time, outsourced virtual assistants are one of the most essential ways to catalyze your business growth. A successful company that has leveraged virtual assistants is Amazon.com. They have relied on virtual assistants to simplify their logistics processes. We’ve seen Amazon hire virtual assistants in places like India and Brazil to manage the logistics, inventory management, and more for them.
#2: Leverage the network effect
In today’s market, companies need to leverage the network effect. The network effect refers to the advantage that a product or service has when it is used by numerous people. It’s also known as demand-side economies of scale, where the cost per user declines as more people use it because of fixed costs being spread out over many more users. In cases where you have a well-established brand, network effects are critical in helping scale a business.
Many medium-sized companies that have successfully relied on the network effect, such as Reebok and CrossFit, have benefited from scalable business models. Reebok has grown its business by leveraging the network effect by capitalizing on the fitness craze that’s been going on for a number of years. CrossFit also leverages the network effect, by bringing together people who are motivated to get fit into its community under its franchise brand name. Even together, they have collaborated to showcase a prestige effect for both Reebok and CrossFit consumers, as brand affiliates.
To stack strategies, managing a virtual assistant team makes it easier to have a better handle on the network effort.
#3: Repackage products and services
In today’s competitive market, you need to think about repackaging products and services, so they’re more suitable for a specific target market. In cases where you have a well-established brand, network effects are critical in helping scale a business.
From there, you can eventually add new products by modifying existing ones or creating entirely new ones. This approach typically carries less risk than other approaches and provides less risk than staying put with your current product/service offerings. Companies that have successfully leveraged repackaging to scale a business include the Smile Generation dental group, which repackaged dental chains and procedures to appeal to both luxury and more cost-conscious target markets.
If you’re looking to scale a business, marketing virtual assistants can repurpose content and services to more target audiences.
Strategic scaling of business with virtual assistants
With nearly every other aspect of a business, a virtual assistant can help companies scale their operations by increasing efficiency and unlocking value previously not feasible.
5 trusted virtual assistant services gaining demand (in 2021)
1) General Administrative Assistants
Having virtual professionals tackle operations and administrative outcomes for you can go far beyond what a traditional assistant does, like answering phones and keeping your calendar. There are many more ways a virtual professional can help you administratively. Here are some concrete examples of my favorite things administrative virtual professionals do for our clients.
- Virtual receptionist
- Client care & relationship building
- Screen calls & emails Loan processing
- Administrative support
- Accounting & bookkeeping
- Lead management
- Lead reporting
- Agile project management
- Performance reporting
- Customer support
2) Marketing Assistants
There are many things a virtual marketing virtual assistant can do for you to supercharge your company’s scalability. Focus your talented marketing professionals on the above sales tools and also on ideal client targets. If you know who buys from you and why your marketing virtual professional can really help drive your message out to the marketplace.
- Online marketing, listings & social media (Instagram, LinkedIn, Facebook, Youtube, TikTok, Clubhouse, Pinterest)
- Virtual showings & open houses
- Webinars & speaking events
- Marketing automation
- Brand work
- Design coordination
- Collateral development
- Creating & repurposing content
- Audio, video & multimedia
- PR & paid advertising
3) Sales Development Assistants
A sales development assistant can take over your prospecting and expand your lead generation efforts. Our sales development, prospecting, and inside sales virtual assistants will help you generate more leads. They will pre-qualify them and allow you to focus your time on selling and generating commissions. In addition to warm & cold calling, our virtual assistants can assist you with lead screening & pre-qualification, lead nurturing, prospect & client follow-up calls & more!
- Telemarketing & inside sales
- Smart plans
- Warm & cold calling
- Prospect & client follow-up
- Lead nurturing
- Recruiting assistant
- MLS (real estate)
4) Executive Assistant
The wealthiest and most successful people in the world stay on top of their game because they can afford an executive assistant (…now affordable at up 70% less through MyOutDesk!)
A virtual executive assistant can handle most, if not all of your paperwork, transactions, concierge-related tasks, and even reception calls! Whether it’s working on documentation, managing emails, transaction coordination, and the list goes on.
Tenured. College-educated. Career Virtual Assistants With industry expertise in:
- Healthcare & Biotech
- Real Estate, Mortgage & Lending
- IT & Technology
- Retail, Inside/Outside Sales
- Project management (PM)
- And much more.
… and the list goes on! With a business strategy in place that leverages virtual talent, there are a million ways that virtual professionals at MyOutDesk will transform your business.
5) Personal Assistant
A Virtual Personal Assistant can save you valuable time while handling these essential tasks that you do not need to be doing yourself.
- No more part-time assistant
- OR student assistants.
- Stop the late nights in the office, too
- OR missing the gym & family quality time either.
Instead, now you can have a full-time Virtual Personal Assistant with a career background from your preferred industry and skill set!
The Future is a Remote Workforce
In today’s high-tech economy, a remote workforce helps to maximize profits, grow clientele, improve business capacity, and often outperform competing companies that have fewer remote workers.
- 50% of the US workforce turned to remote working in 2020.
- 73% of teams will have remote staff in the 10 years.
MyOutDesk has served over 5,000 SMBs in health care, real estate, finance, and more. We have taken the lessons learned from over a decade of experience with virtual assistant services to help our clients eliminate the pitfalls of outsourcing. This hands-on experience has helped us to develop a better system of checks and balances to ensure we are delivering the highest quality of service possible.
With recent government directives, you can keep your workforce and go remote now. We’re offering, for free, [DOWNLOAD] Shelter In Place: A Guide to Working Remotely.
- Increase your touchpoints to the most influential clients
- Double down on branding and marketing — differentiate yourself
- Focus on adding value to your suppliers and vendors
- Double down on your prospecting and outreach programs
- Keep key talent and stay connected to your people
- Manage cash and cut out but (but don’t cut muscle)
- Set up clients & employees to be fully remote
Envisioning of a New Reality for Your Business
Focus on your growth & scale your operations
Simply put, MyOutDesk equips entrepreneurs & business owners with tools, strategies, and virtual employees – and when combined, businesses have a competitive edge and find growth while efficient systems and processes are put in place.
MyOutDesk proudly provides additional free business growth guides, books, and strategy calls.
See what we are about, and schedule a free consultation with us. We’ll take the time to learn more about your business and offer solutions to foster top talent and lower operational costs for your company.
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