Startups– the word defines the travel and tourism industry of today most precisely. With such a huge plethora of Indian and foreigner travelers coming up with their own set of demands, more and more startups have begun functioning in the travel industry to cater to their needs. Though on one hand, this is surely hitching up India to the oath of progress and development, but, on the other hand, entrepreneurs often themselves are struggling to make a mark in this highly competitive industry. Scalability is the ability of a startup to develop and grow. Or, in another way, a scalable business can adapt to a larger workload without compromising performance or losing revenue. Meaning, if your business is scalable then from earning nothing to becoming a million dollar company, the dream is definitely achievable.
So, if you also are a travel startup founder and aim to scale your business, then worry not, here is a list of preparations you need to do to achieve the same.
Ensure firmly that your core product line reaches market fit. Gradual improvements can be made through product iterations based on user feedback and data.
IDENTIFY YOUR LARGEST CORE USER GROUP
Try to analyse the marketing channels with the biggest Return On Investment and scaling potential by testing with smaller budgets first.
Ensure that you have the resources to scale. You can have an additional round of funding if required.
Automate what all you can.Set up cloud storage, marketing automation, bill pay for automatic withdrawals etc. This particular activity would reap great benefits to you and your travel startup in the long run. You’ll get the ability to access data faster, hire faster, market better, pay easier, and streamline operations for a truly scalable model.
Content marketing is believed to be one of the best and most scalable growth methods. It has a perennial value and great potential, making it the growth-hack method of choice for most startups.
Outsourcing is the key. A lean approach that enables startups to avail huge advantages is to outsource the non essentials. This way you’ll be able to work on your core competencies and delegate the rest of the stuff to some other specialist.
BE AWARE OF SOCIAL MEDIA
Every startup is the buzz word of today. Whatever happens on the social media becomes the most talked about issue in the crowd. As much as scalability is about growing, it’s all about surviving, so, make sure you don’t land up in any PR fiasco ever.
You must hire only those people who are necessary to the operation. Hire people with a multifaceted skill set, which can be transferred from one task to another.
MAKE INDEPENDENT BUSINESS PLAN
If it is truly scalable, your business should be able to function fine and properly without you as well. You are the one who has to ensure this by deliberately shifting the responsibility off your shoulders, or into the oversight of someone else.This would not only be good for your startup but also for the employees and the employer, i.e., you as well.