Company growth is fun, no doubt about it. There’s nothing like the excitement that comes along with increased revenues, adding additional team members and an elevated market presence. The question is how do you juggle the countless number of tasks involved with getting to a point where you can reach a level of sustainable scale? Let’s break it down.
- You need a plan. Whether you’re cooking a meal, putting together a workout regimen or scaling your commercial real estate business, you need a predetermined, thorough and detailed strategy to make it happen. Key items to consider:
- Identify a timeline. My recommendation is to look out 1 month, 3 months, 6 months, 12 months and 5 years. Strategies may differ, but this is a model that has worked for us at ML Jordan. The timeline process as well as all forecasting tasks is a time for creativity, visualizing your company’s future and identifying a realistic timeframe to accomplish these growth goals. It’s important to understand that scale will happen at checkpoints, it won’t all come at once.
- What are your revenue goals and what does sustainable scale look like for your company on a monetary basis? Identify the numbers and correspond revenue milestones with your timeline.
- How much business do you need to close to keep up with your revenue goals and what are the associated timelines?
- How much is it going to cost to meet your level of scale? Think about hiring needs, software, office space, technical equipment, travel, book keeping, etc.
- Marketing. Now that you have your business plan in place it’s time to start generating revenue. To generate new revenues, you’ll need new clients and opportunities which require marketing.
The days of marketing in the form of interruption (unsolicited messaging) are demising in effectiveness. To generate qualified leads, you need an inbound strategy and you do this with attraction as opposed to promotion. Offer value in the form of useful materials in exchange for contact information. As you’re building your database, you’re adding new leads into workflows that provide opportunities for continued engagement.
- Servicing New Business. With leads come business opportunities and for sustainable scale you’ll need an infrastructure in place to continue servicing new business. This is where hiring comes into play. Regardless of the number of people on board during the onset of your company’s early days, human resources will need to be added to support ongoing demand. This is where industry specific contractors come into play.
Supplementing industry specific contractors with existing team members can prove to be a cost-effective way to scale. Outsourcing certain tasks to 3rd party independent contractors can take an enormous amount of stress off your already jam-packed to-do list.
At ML Jordan, we want to help your company scale. We’re a commercial real estate specific marketing agency that has successfully helped hundreds of commercial real estate firms across the country build dynamic brands, create detailed marketing plans as well as streamline the development of key marketing collateral. If you have an interest in learning more on how the team at ML Jordan can work in tandem with your company, schedule a consultation and we’d be happy to walk you through our service offerings.