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This email is Part 4 of a short series covering everything you need to do after buying your first business.
You can read the first three parts here:
By this point, you’ve stabilized operations, documented systems, and built a high-performing team.
Now it’s time to grow.
Most new business owners are terrified to touch pricing or launch marketing campaigns because they don’t want to rock the boat.
But if you
re not actively growing revenue, you’re leaving massive amounts of money on the table.
Today, you’ll learn the best strategies to scale your newly acquired business.
First, review your pricing structure
Most small businesses haven’t raised prices in years.
The previous owner got comfortable and left thousands of dollars on the table.
To kick this off, audit current pricing against market rates.
If you’re 20-30% below competitors and delivering the same quality, you have room to increase.
Don’t do it all at once.
Aim to raise prices by 10-15% for new clients first, then gradually adjust for existing clients over 6-12 months.
Next, identify new service opportunities
When you step into a business, you’ll immediately spot services the previous owner never considered.
My student Lindsay bought a carpet cleaning company, and ended up adding tile cleaning, hardwood floor cleaning, and upholstery services.
These weren’t chosen randomly. Lindsay saw that they were natural extensions that required minimal training, served the same clients, and used similar equipment.
By doing this, she unlocked multiple revenue streams instead of relying on just one.
Consider developing subscription-based models
This can transform unpredictable revenue into predictable cash flow.
Lindsay implemented monthly subscription plans for commercial clients.
Instead of one-off cleanings, businesses signed up for monthly service.
This gave Lindsay predictable monthly revenue and made budgeting easier for her clients.
Build a real marketing strategy
Most boring businesses got all their revenue from referrals and word-of-mouth.
That’s great. But you need a second engine for growth.
Here’s a good place to start:
Revamp your website so it actually converts leads
Start posting on Instagram or Facebook showing your work
Launch email marketing with updates, promotions, and upsells
Build a customer referral program
None of this requires a massive budget… You just need to be consistent.
Explore geographic expansion
Once you’ve optimized operations in your current market, look at adjacent territories.
Lindsay expanded to neighboring cities with the same services, and now covers a wider footprint.
This works especially well for service businesses where demand exists but competition is thin.
Implement upsells systematically
The easiest money you’ll ever make is selling additional services to existing clients.
It’s 10X easier to sell to someone who’s already paying you than to convert a cold prospect.
Lindsay trained her team to offer upsells during every service call, which would go something like:
“While we’re here cleaning your carpets, would you like us to clean your tile entryway too?”
This increased her average ticket size by 25%.
The moral of the story? Don’t leave upsell money on the table!
Do you need to do all this?
No.
But if you want to build real wealth, scale your business, or sell it for a big multiple…
These steps will help you get there faster.
On Thursday, we’ll dig into Part 5, where you’ll discover how to scale operations, implement AI automation, and remove yourself from the business.
In the meantime…
If you want to buy a business and you’re looking for opportunities, I occasionally share vetted deals with people on this list when I find them.
To get those emails, fill out this quick form:
👉 I want to buy (or invest as a silent partner into) a small business
Or if you’re selling a business and need interested buyers, share the details in this form below:
👉 I want to sell my small business
Onward,
— Ben Kelly
