Upscaling and Scaling Business Ideas into Reality – Jeff Bezos takes Amazon from Online Bookstore to Global DominanceFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 4

Upscaling and Scaling Business Ideas into Reality – Jeff Bezos takes Amazon from Online Bookstore to Global Dominance

Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 4

Congratulations, your market testing worked and you were able to find customers, or at least one customer. Your beta test was successful and you are confident that you are ready for more. What do you do when you start getting customers or users? I recommend you do some scaling or upscaling.

Quick clarification, I have seen the terms scaling and upscaling used interchangeably in the startup world. For our purposes, we will use the term scaling to mean taking the actions necessary to grow your customer base. We will use the term upscaling to mean improving the quality of your business.

Market testing is performing activities designed to prove or disprove that there is a market for your business idea. We did a limited amount of market testing during our beta testing. Now that you have proven you can find a service 1-2 customers, let’s see what happens when you try to do handle 10, 12, 14 customers/users. This is scaling your business.

I call this mini-scaling, since we are probably not ready to handle thousands of customers/users yet. Let’s put the business processes, system, and the business idea you have built under some pressure. Do you do it all yourself? Can your team handle it? Do you need to hire employees or contractors? Do you need another location or more space? Can you use technology to help smooth the transition? Do you need other financial assets? Upscaling your business is the goal.

One of the things you will learn very quickly is that there is a difference between serving one customer vs. serving 10 customers vs. 100 customers. It can change almost everything about your business processes.

Jeff Bezos started Amazon started as a bookseller in 1994, and later scaled by first adding things like home appliances and video games. Today the online retailer sells almost anything. 

Amazon also upscaled by offering online customers much more than just products. Jeff Bezos initially stayed away from carrying inventory. Today, the online marketplace own warehouses full of inventory. Amazon also offers entrepreneurs the ability to sell their products through their website. In 2006 Amazon started offering order fulfillment services. Today, Amazon is one of the largest companies in the world

You need to think the same way to create your billion-dollar company. Scaling and upscaling are not just one-time things. They both need to become part of your culture and ongoing growth strategy.

 

Are you looking for investors? Send us your information, Funding@OmegaAccelerator.com

Would you like to invest in early-stage businesses? Contact us, info@omegaaccelerator.com

 

Sources:

https://rencarlton.blogspot.com/2021/05/upscaling-and-scaling-business-ideas.html

https://www.linkedin.com/pulse/upscaling-scaling-business-ideas-jeff-bezos-takes-amazon-ren-carlton

https://youtu.be/0O_uUFhzEKI

https://register.omegadestiny.com/register-business-for-funding

https://register.omegadestiny.com/register-to-market-to-our-companies

https://hbr.org/1975/05/when-where-and-how-to-test-market#

https://www.businessblogshub.com/2019/04/build-it-outwards-upscaling-your-business-effectively/#:~:text=Upscaling%20can%20be%20a%20very,is%20best%20for%20the%20company.&text=Upscaling%20your%20business%20is%20taking,operation%2C%20and%20building%20it%20outwards.

https://startupsmagazine.co.uk/article-how-successfully-upscale-your-business-under-three-years

https://www.telegraph.co.uk/connect/small-business/operations-and-logistics/renault/how-to-upscale-your-business/

https://smallbusiness.co.uk/five-tips-help-small-companies-upscale-compete-big-business-2537684/

https://hbr.org/2014/08/how-to-finance-the-scale-up-of-your-company

https://www.thebalancesmb.com/how-to-scale-a-business-4155615

https://www.thebalancesmb.com/what-are-retained-earnings-393324

https://www.thebalancesmb.com/equity-financing-2947068

https://www.thebalancesmb.com/debt-financing-2947067

https://www.britannica.com/topic/Amazoncom

 

Disclaimer: This does not constitute an offer to sell, a solicitation of an offer to buy, or a recommendation of any security or any other product or service. We are not offering legal, investment, tax, or medical advice.

 

 

Build Your List of Potential Investors, Pitch Investors Properly, How Kevin Systrom Raised $500,000 in Two Weeks to Launch InstagramFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 12

Most startups need funding at some point. Once you have the addressed all of the items in the previous episodes, it is time to build your list of potential investors and start the conversations. They can be friends, family, social network, social media contacts, work colleagues, people in the business industry, etc. Try to put together a list of at least one hundred people. A list of one hundred potential investors may seems like a lot, but the more people you have on the list, the better your chances are of success.

Making Money With Your Business, Profit and Cash Flow, Five Sustainable Companies That Make a Lot of MoneyFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 10

It is time to make money! You have been through a couple of rounds of market testing now you feel like you are on to something. The next step is to run the numbers to make sure that the business is sustainable. There are two sides to making money, profitability and cash flow.

Why Competition Is Good For Entrepreneurs and How Blockbuster’s $50 Million Mistake Helped Reed Hastings and Netflix Destroy a $6 Billion Empire Find Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Epis

When battling for resources or investment, early-stage entrepreneurs may believe that competition is a bad thing. On the surface, they are correct. There are a limited number of angel investors willing to provide a finite amount of venture capital to founders.

What Kind of Business Should You Start? – How Mark Zuckerberg Pivoted From Rating Hotness to FacebookFind Angel Funding & Venture Capital for Business Startups, Entrepreneurs, & First Time Founders – Episode 1

When it comes to brainstorming startup ideas, new entrepreneurs and even seasoned ones scratch their heads in confusion. Living in the information age, you can scan the current market and see countless new business ideas. With so many options out there, how do you know which one is right for you?

Why Would a Doctor Abandon a Steady Paycheck to Become an Entrepreneur?

As physicians, we are expected to be compliant with rules, restrictions, and regulations. We are expected to be risk averse. We are expected to be “providers,” but not necessarily innovators or leaders. As the healthcare system becomes increasingly consolidated into large overcrowded clinics, we are required to perform to the standards set by bureaucrats and clinic managers. These rules are often at odds with the best interests of patients and with our sanity.

The Alienation Of America’s Best Doctors

The best and the brightest simply don’t want to become doctors anymore. Physicians are burning out. They are leaving the profession. They are going bankrupt. They are selling their private practices to big hospitals. They are retiring early. We are facing a growing doctor shortage.

Better to Live and Die in the U.S.A.

The United States healthcare system is often berated for how it treats patients near the end of life. They are purportedly attached to tubes and machines and subjected to unnecessary invasive procedures that cause inordinate pain with no potential benefit, there is underutilization of more compassionate hospice services. This “travesty” is expensive, as the care of dying seniors consumes over 25% of Medicare expenditures. We hear this story so often; it is almost taken as gospel-- but is it actually true? Is it more expensive and invasive to die in America than in other developed countries?
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