Scaling Made Easy: How to Scale Your Business like a Fortune 500 Company Once you have the night-vision skills of Fortune 500 restaurants, scaling becomes effortless. Here are 3 ways to scale, hidden in plain sight.
By Thalia Toha Edited by Micah Zimmerman
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It's noisy.
If you've passed your early years of entrepreneurship, it can be difficult to decide what to do next. There are dozens of new ways to grow now. And how do you know if any of them will work? Especially if you have a small team, if you're a one-person show, and if you started last.
But if we look closely, there are timeless ways to scale hidden in plain sight.
Restaurants have used these scaling techniques for years with their brick-and-mortar locations.
Aside from the obvious reasons for having a seemingly 'good' location, what exactly do they look at? What kind of 'night vision' perspective do they put on? And how can anyone do the same on a smaller scale, and even digitally?
I always advise Fortune 500 restaurants, or anyone looking to scale digitally, to look for three key things.
1. It's not about everywhere. It's about intersections
Just because a particular opportunity is 'there,' it doesn't mean everyone should gobble it up. More importantly, it doesn't mean it's even a fit for you.
Just because you can, it doesn't mean you should.
When a restaurant looks at where they want to put their concept, they don't just look at getting visibility. They look at finding the right kind.
Intersection is a good example. A restaurant can quadruple its visibility at the right intersection. But they wouldn't just want to be at any corner of the intersection's quadrant. They want to be in the correct quadrant.
Take Starbucks. Obviously, they drive much of their income from the morning traffic. So if an intersection has high-volume traffic, but the available site is on the going-home side of the road — rather than on the going-to-work side — they would simply say no.
Scaling has more to do with elevating existing sources for momentum.
This means there needs to be thoughtfulness on whether certain opportunities would allow for the right traffic — not just any traffic — to intersect.
With online growth, do at least three specific steps: 1) Choose only platforms that allow you to link and intersect with at least one other platform, 2) Do a deep research before using the platform and see if your aligned audience is intersecting from those other platforms, and 3) If they are, then invest in being present at times of the day when they are, too. And simply move on with your life when they're not there.
Related: In-N-Out Burger Is Moving East. Is It Coming to Your State?
2. Serving the under-served isn't intuitive. But it should lead the scale
When a new app takes off, it becomes a feeding frenzy. It seems that everyone and their uncles want a piece of the action. Except, this can be deadly if you don't already have a widespread brand.
You'd get lost in the noise.
Serving an under-served audience is forgotten wisdom. It should be intuitive to think of the overlooked. But our ego and pride prevent this.
When in reality, under-served audiences are not only equally deserving. They are also usually more willing and ready, especially if they have difficulty accessing your competitors.
If we look carefully, some of the most profitable restaurants exist in non-metropolitan areas. Just imagine if you're on a road trip, there's nothing around for seventy miles straight, and you start to get hungry; what would you do? You'd go to the nearest restaurant you can find.
It's that simple — no fighting for business. No pushing. It's just there. Quietly winning.
Why can't this be you?
There are a few things you can do to apply this principle online.
First, come up with a list of three to five underserved and overlooked audiences who may need your help.
Second, do deep research on where you could find them. No, I don't mean just staring at the first page of Google search results. I mean, do an analysis to identify a prototypical customer, complete with their buying behaviors, preferences, and needs.
And third, customize your offering to serve their specific needs. No need to change your offering entirely, but you certainly could if you see fit. Just meet them where they are, which leads us to the next technique.
Related: Is Franchising Right For You? Ask Yourself These 9 Questions to Find Out.
3. Create a special specific to a new audience
If you've traveled internationally as often as I have, you'll know what I mean. Some McDonald's in Asia serve their burgers with a side of white rice and their local hot sauce.
It's not selling out. It's honoring who you serve.
Food is a universal language. And Fortune 500 restaurants know that. And they acknowledge that deep and rich memories are created around a lifetime of shared meals. Let those pre-existing memories of your audience create new ones by introducing your offering with a familiar special.
This means that online, new and up-and-coming brands can be unapologetic about their voice while still respecting their audience's expectations.
The key here is to focus on a quintessential specialty with which the audience can already relate.
First, unify everything you do — from branding to messaging to web presence — to establish your unique voice. Second, do even more research on your consumers' preferences and ways these preferences can be introduced into your offering. And third, reach out, work with them, get their opinion and run tests on the special offering. Once it's proven and greenlit, it can be launched with confidence.
Not only will your growth take off, but your reach will also deepen.
Related: 4 Simple Steps to Begin Building an International Brand