Strategies to scale your product, service, or technology

One of the most important factors for achieving success in a startup is scaling the project and having revenues start growing at a higher rate than expenses, leading to a highly profitable company. The goal is to increase the value of the business without proportionally increasing the resources involved in achieving it.

At Free Falling, we suggest three approaches that you can work on to scale your business project, which will be particularly useful if you are in the early stages of defining your business.

Focus the strategy on a specific target audience to further develop the product or service accordingly. You can concentrate on a smaller audience or company to accumulate success stories that can be used in the future to showcase to much larger or multinational companies that operate in a different league.

Assess which market the project or technology may be more needed in and develop a strategy focused on this specific market. Then, extrapolate and expand towards other markets.

Start with a product or service, but continuously create new products based on specific market needs, adjusting and adapting them accordingly to provide additional value and generate a larger market share.

Apart from these three approaches, we also provide you with some strategic actions that you can use to multiply the revenues generated by your company:

One of the key points to consider when starting a business or in the early stages is to understand the real needs of the project in order to determine how much funding is required to accelerate its growth.

After determining the resources needed to grow your business, we recommend developing a strategy to secure capital. Entrepreneurs have various avenues to obtain resources and investment: you can apply for entrepreneur loans, participate in investment rounds and seek investors (business angels or local investors), or finance the project by obtaining funds online through a large number of investors (crowdfunding).

You can also diversify the income sources of your business by creating new products or services, establishing a subscription-based business, or launching an online store. Over time and with experience, you can explore new models that help increase your revenues.

The support of third parties can be a significant competitive advantage in growing your business. It is important to incorporate these potential alliances into an action plan, which will help you determine how to execute them.

One key aspect of attracting potential alliances is to have a value pitch that summarizes what your company or business is about. In addition to capturing the attention of potential collaborators, it should explain the benefits that both parties will gain through mutual cooperation.

It is also essential to determine the common objectives and goals you share and aim to achieve together. It is always more motivating to have partners who share your objectives and approaches.

The strategic alliances that you can establish with another company are numerous and diverse. They typically depend on shared objectives and can be summarized as follows:

Temporary strategic alliance between two businesses that are direct competitors, but join forces to work on a common project such as launching a new product or negotiating with a special client.

These are long-term alliances where two companies become allies to increase their competitiveness and strengthen themselves in relation to the competition.

Here are two ways to create alliances. In equality, the idea is to create a third company or business with the contributions of both parties, which involves a legal process. Then, there is the contractual approach, where only an alliance of interests is formed

Two brands join forces to achieve mutual benefits, creating a product or implementing loyalty strategies.

Here, one of the parties recognizes that their ally can handle a project better or be more efficient in a particular activity, and they turn to them for assistance in that specific matter.

There are experienced partners or collaborators who can help you grow by creating a business plan or roadmap that allows you to study potential scenarios you may encounter. For example, assessing the feasibility of expanding your business to another country or determining the most suitable products based on your market's needs. Internationalizing your business or startup becomes much easier when you have the support of someone experienced.

If you are at the stage of growing your business and require a partner to assist you in the process, both in defining the strategy to follow and carrying out day-to-day tasks, please contact us. Together, we can develop a strategic plan to achieve all your growth objectives.