How To Grow Your Business: 10 Low-Cost Growth Hacks to Scale Your Business
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We start or buy businesses for all kinds of reasons – passion for an industry, freedom, or perhaps with the intention to build and sell. Just as our motivations differ, so do the growth strategies that work best for each business. Each venture comes with unique challenges, and it’s easy to get overwhelmed with all the advice out there.
If you’ve got a brilliant idea and a business ready to rocket, but you’re unsure where to start, you’re not alone. You’ve probably asked yourself: Where do I begin? Whose advice should I follow? What strategies will work for me?
If you spend any time on social media, you’ll also see countless experts claiming they have the perfect solution to help you scale. But what if you don’t have much cash, and you’re bootstrapping to get this off the ground?
Well, that’s what we’re going to cover today.
After launching and scaling three businesses of my own and working with over 1,000 companies, I’ve picked up a few low-cost strategies that can help you scale quickly without breaking the bank, hiring an external agency or forcing you to write “IOUs” all year to your family when you try to avoid buying them a birthday present.
Plus, some honest methods to help you actually identify which advice is right for you so you don’t fall for the sales trap of business gurus. Let’s dive into some practical growth hacks that have worked for hundreds, including my own and can work for you too.
TL;DR
- Engage Your Network: Start with People You Know
- Build Relationships and Networks
- Leverage Free or Low-Cost Software to Acquire Customers
- Get Reviews and Referrals—At Any Cost
- Know Your Ideal Customer Profile (ICP)
- Invest in a CRM
- Know When to Outsource
- Copy Your Competitors—Then Improve
- Use AI to Scale Smarter, Not Harder
- Automate Repetitive Tasks
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1. Ask Friends, Family & Neighbours
When you’re starting out, don’t be afraid to ask the people around you first. Cut out any head noise that tells you not to ask them and just do it. Lean on your friends, family or even neighbours—anyone who might be interested in your product or service.
These early connections are the perfect first customers, giving you valuable feedback, testimonials, and insights that will help refine your offering as you scale.
Take a moment right now and scroll through your phone or social media contacts. I bet you can find at least five people who could benefit from what you’re offering. Reach out to them. Offer a discount or a special deal. Your early customers can be your biggest advocates and help you gain traction faster than ever.
2. Build Relationships and Network
No matter what industry you’re in, relationships are everything. Some of the best business deals I’ve made started with casual conversations on LinkedIn or through networking with other business owners. You never know when a referral or introduction could turn into a major opportunity.
Think back to the people you’ve met along your career path—former colleagues, classmates, or even clients. Could your business help them? Could they help you? There’s opportunity in every relationship—you just have to find it.
There’s no excuse here as well, we live in the digital age where it’s never been easier to connect with anyone who you think might be a good customer or potential partner. It takes 2 seconds but could change your business forever.
3. Leverage Free or Low-Cost Software To Acquire Customers
Finding new customers can be tough, especially when your network only takes you so far. That’s where tools like Bark, YellowPages, and Google Business come in handy. For B2B businesses, use directories or tools like Clay, which helps you find and reach out to your target customers efficiently.
For B2C, after getting some initial traction and testimonials from friends and family, you can start experimenting with low-cost ads or organic social media strategies to attract new customers.
The reality here is that sometimes you have to spend money to make it, it’s unavoidable in growing a business but it’s about finding where to invest it first. If you’re unsure where to start, consult a couple of professionals or use AI tools to guide your advertising strategy. Never follow one piece of advice, collect and assess.
4. Get Reviews and Referrals—At Any Cost
Social proof is everything when you’re scaling a business. Reviews and referrals can be the difference between hitting $1M in sales in months or years. And let’s face it, most of us didn’t start a business because we’re natural-born salespeople.
So, let your customers do some of the work for you.
After a customer uses your product or service, automatically send them an email asking for a review, or include a card in your packaging offering a discount for feedback. Testimonials, especially videos with them talking to the camera, are golden – If you have them, consider running them as ads. Even if you have to offer steep discounts at first to get those initial reviews, the long-term return will far outweigh the short-term cost.
5. Know Your Ideal Customer Profile (ICP)
Before going all-in on any sales or marketing strategy, make sure you have a deep understanding of your ICP.
This can’t be stressed enough – many businesses burn through their budgets targeting the wrong customers simply because they didn’t take the time to properly define their audience.
Start from scratch. Talk to your current customers, ask for feedback, and dig into their pain points. This process not only sharpens your sales and marketing angles but also boosts referrals and customer retention. And remember – your ICP will evolve over time. I regularly update mine, and it’s helped us make millions by staying relevant and targeted.
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6. Invest in a CRM
One tool every business should invest in early on is a CRM (Customer Relationship Management) system. A good CRM, like HubSpot or others, becomes the backbone of your marketing, sales, and customer service efforts. It helps manage customer relationships, track sales pipelines, execute email campaigns, and even generate insights that guide your business strategy.
As you grow, your CRM will be an invaluable asset in scaling efficiently, allowing you to make data-driven decisions that directly impact your bottom line. When assessing which CRM is best for your business, look at the features available and compare pricing. Think about your needs as you scale and speak to a rep to help guide you.
7. Know When To Outsource
As a business owner, time is your most valuable asset, and there simply aren’t enough hours in the day to do everything yourself. Hiring full-time staff can be expensive, but virtual assistants (VAs) can be a cost-effective solution to handle administrative tasks, customer service, or even basic sales and marketing.
Platforms like Wing or Athena can connect you with qualified VAs who can take over time-consuming tasks, allowing you to focus on higher-level business strategy. In my experience, VAs have been game-changers, helping me save both time and money while increasing efficiency.
If you’re unsure of when is the right time, consider how much time you spend a day on tasks that aren’t generating the business money, or very little. Then consider how much your time is worth if it was spent on the things you know could make you money. If the little-money tasks outweigh the big-money tasks, it might be time for a VA.
8. Copy Your Competitors—Then Improve
The best businesses don’t always reinvent the wheel; they study what their competitors are doing and then make it better. I always think those that ignore their competitors, move blindly and avoid free insight.
Do yourself a favour and research your competitors! check out their content strategies, sign up for their newsletters, browse their websites, and even pretend to be a customer. You can learn a lot by understanding what’s working for them and then applying that knowledge to improve your own offerings and strategies.
When I say competitors though, this isn’t your local competitor. We’re talking about larger businesses that you aspire to be like that offer similar products or services.
A tip for you: Tools like Meta’s Ad Library or SEMRush can help you see where your competitors are advertising and what keywords they’re targeting.
9. Use AI to Scale Smarter, Not Harder
AI is an invaluable resource for business owners, offering a range of solutions that save hours of work each day. From market research to content creation, AI tools like ChatGPT, Gemini, and Meta AI can handle tasks like drafting sales emails, writing blog posts (just like this one), and even automating customer service responses.
For instance, our project management tool, ClickUp, uses AI to learn from our ongoing projects and clients. It helps us reference past ideas and generate new ones with ease. The amount of time it’s saved us is hard to overstate.
If you aren’t using AI daily, you’re not maximising its potential. To get started, write down the tasks that consume most of your time. Then, search for AI tools specific to those pain points. For example, if you’re bogged down by writing emails, search for “Email Writing AI” and explore the software options available.
Most platforms offer trials, so you can test and find what works best for your needs.
ChatGPT, in particular, should become your go-to. Treat it like a virtual assistant—create dedicated threads where you feed it relevant information over time. As it “learns” your business, its responses and recommendations become more tailored and effective.
The best part? You can start using AI for as little as $20 per month. It’s like having a team of employees at your disposal—so why not take full advantage?
10. Automate Repetitive Tasks
Finally, automation is your saving grace when it comes to scaling. Similar to AI, tasks like email marketing, invoicing, and reporting can all be automated, freeing up more of your time for higher-level business decisions.
Tools like ClickUp, Zapier, or Make allow you to create custom workflows and automation tailored to your business’s needs.
A good rule of thumb is to do a monthly audit of your workflow. Write down everything you do in a day, and then assess which tasks can be automated. You’ll be amazed at how much time you can save.
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Final Thoughts
Growing a business on a tight budget requires resourcefulness, focus, and a willingness to leverage the tools available to you—especially AI.
The strategies shared here are meant to help you scale quickly while keeping costs low, but remember, the key to success lies in prioritising where to spend your time and effort. Take advantage of your network, automate what you can, and don’t be afraid to copy proven strategies and improve upon them.
As you continue to grow, here are a few additional tips to keep you on track:
- Time Blocking Technique: Set aside specific blocks of time for focused work each day. This ensures you’re working on what matters most without distractions.
- Know Your Anti-Goals: Define what you don’t want to do or achieve in your business. By setting anti-goals, you’ll have clearer boundaries and make decisions that align with your true objectives.
- Take Calculated Risks: Don’t be afraid to take bold steps, but always back them up with data and a clear strategy. Calculated risks often lead to big rewards.
- Partner with Other Companies: Collaborating with other businesses can help you reach a wider audience and create mutually beneficial opportunities. Look for partnerships where both parties can win.
By being strategic and leveraging AI to handle repetitive tasks, you can free up time to focus on what really drives growth. Remember, success in the early stages is all about working smarter and harder. Keep pushing forward!
FAQs
1. How long does it take to start seeing results from these growth hacks?
Results will vary depending on your business model, industry, and how consistently you apply these strategies. However, many businesses see initial traction within weeks of implementing network-based outreach, customer referrals, and targeted marketing strategies. The key is consistency and refinement based on feedback.
2. What if I don’t have a big network to engage when starting out?
Even if your immediate network isn’t large, you can expand it by leveraging online platforms like LinkedIn, industry-specific forums, or even local business groups. Additionally, tools like Bark, Clay, or Google Business can help you reach new potential customers outside your current network.
3. How do I choose the right CRM for my business?
When selecting a CRM, consider your business size, the features you need, and scalability. Look for features like sales pipeline management, email integration, customer relationship tracking, and reporting tools. HubSpot, Salesforce, and Zoho are popular choices, but be sure to compare pricing and features to find the best fit for your business.
4. How much should I budget for paid ads if I’m just starting?
There’s no one-size-fits-all answer, but for small businesses with limited budgets, start small—$500-$1000 per month is a reasonable range to test your campaigns. Focus on optimising your ads before scaling your budget to ensure you’re getting the best return on investment (ROI).
5. Is outsourcing or hiring a VA really cost-effective for small businesses?
Yes! Virtual assistants (VAs) are typically more affordable than full-time hires, especially for administrative, marketing, or customer service tasks. They can free up your time to focus on more strategic activities, making it a cost-effective solution as you scale.
6. How can AI help my business if I’m not tech-savvy?
AI tools like ChatGPT are user-friendly and designed for people of all tech levels. Start small by using AI for simple tasks like writing emails or generating blog ideas. Many platforms also offer guides and tutorials to help you get the most out of the tools.
7. What’s the best way to ask customers for reviews?
The key is timing and ease. Send a request for a review shortly after your customer receives their product or service. Automate this process through email marketing or include a card in your packaging that offers a discount or incentive in exchange for a review.
Sell Your Online Business With Flippa
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Ben is the Head of Growth at Defiant Digital, a creative performance growth agency on the cutting edge of the digital marketing landscape. Ben has spent 10 years in business growth, including 3 ventures of his own, working across 6+ agencies, and helping grow 1,000+ brands globally. His purpose and drive is to help owners and entrepreneurs build & grow a 7-figure business that will run without them.
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