Midweek Check-In: Build, and then Scale
🚧🧱🚀 👥 🤝
Hi-ya Innovator 👋
Waaaait, is April on steroids?! 😱😱
We’re already halfway through the month?? [gasps in shock and disbelief] Where did all that time go??
Shebi, you’re also seeing this?, cos it’s looking like ‘film-trick’ from here
Anyhoo, how’s your week going? What have you been working on lately?… aaaand if nothing’s been keeping you busy, what’s stopping you from getting started? 🤔🤔
The matter on ground today is the ‘What’s next?’ question, the ‘What comes after now?’ question, the ‘So, what are we going to do?’ question…
The list goes on, but you get the point 🤭🤭
As simple as it sounds, the future of anything is a very debilitating thing to think about 😫 😫 and might be the leading cause why a lot of people never get to build their solutions at all. The future is an unknown that can’t be controlled (to a large extent) so most people put off thinking about it at all, till they either have to face it when they are unprepared, or completely give up cos it seems too impossible…
But that’s not gonna be your solution’s story, Dear Innovator 😇 You know why?
One: Cos you’re here, right now, reading this newsletter [so it means that you do care about the future]
Two: Cos we’ve put together this special piece just for you, to simplify the process of scaling your business 🤝🤝
Here are 7 steps on how to scale your Innovation…
Your team matters, it’s that simple. Scrutinize every hire. Let the culture that you’re trying to live by flow in everyone’s veins 🫡🫡
Focus on your customers. Getting new customers is all good and fun, but retaining them is where the true test is. You want to create a solution that isn’t just focused on adding new features every other week. Create a balance between exciting and innovative additions and reliability/ease of usage. The customers that stick around will eventually become the market share that you can brag about 🎉🎉
Watch the metrics like your life depends on it! Things like customer acquisition cost (CAC), customer lifetime value (CLTV), and customer churn rate are some important ones. These will help you measure the effectiveness of your scaling efforts.
Because you live and operate in the world, you’ll have to secure funding at some point. From venture capital to angel investors and even debt funding 🤷🏽♀🤷🏽♀ there are a lot options to support your scaling ambitions. Whatever path that you’re taking, make sure that you have the right documents and evidence to backup your claims when investors come knocking.
Invest in your product’s technology so that you can handle an increase in users or data. This could be in the form of cloud-based storage solutions or improved data security measures.
Eliminate the unknowns. You’ll have to get a handle on taxes and payroll (we’ve shared how to do this in our previous newsletter). There’s also inconsistent light, unreliable data service and a host of other things that might prove difficult for you and your team at some point, so you need to fix it.
Be patient. It won’t happen overnight, but if you stay on course, victory will be your middle name!! 💪💪
Share this newsletter to as many innovators as you can in your close circle, so that they can enjoy the benefits that you also enjoy and we’ll be waiting for you at the finish line 🤝🤝
Also…
It’s been a minute since Sunday. Are the power lines back up now in your area?
How have you been coping? 🥺🥺🥺
Don’t forget to hit us up on X or Instagram to stay updated on current tech deets. See you back here on Saturday!
Jobs this week: