How do you scale a fintech with limited resources?

A CEO of a Fintech asked me this question recently:

How do you scale a business with limited resources?

This is a big question without one simple answer; but if I could only give one piece of advice it would be…

Know before you go.

Nothing is more costly than to implement a bright idea, discover it isn’t working, abandon it, only to start the next greatest idea and then repeat.

This is a major reason that businesses fail.

So how do you “know before you go?”

Research and planning

Discover your target audience, know everything about them, know what their pain points are, know how to reach them, know what they will respond to in terms of offers and promotion. You do this through research and surveys.

Then you make a plan. Write it out. Get everyone on your team onboard and excited about it and before implementing it put on your fortune teller hat and anticipate what problems are going to arise before you begin.

Have a solution for the problems before you encounter them. Cut down on all surprises.

Don’t react to your environment. Do your research, plan and then causatively attack your environment. Implement your plan and watch every cent as you do.

Don’t act impulsively, but rather, thoughtfully, and causatively with eyes wide open.

For more useful tips on how to scale your business and increase your profits, please download my e-book for FREE, Unlock Hidden Profit Zones.

I help businesses grow and achieve more profits. I work with a network of founders and investors.  Need help with your fintech business? Give me a call, let’s chat.