Often, scaling is used not only to increase revenue, but also to ensure company’s long-term survival. Here are 4 proven and effective ways to scale up.

Increase your share in the existing market (existing market, existing product). This is the most understandable and less risky option. The bigger the market share, the higher the company’s revenue.

Bring a new product to the existing market (existing market, new product). If you see that the demand for any product is not fully satisfied, offer your own. Due to the recognized brand, there is a good chance to consolidate your position.

Find a new market for the existing product (new market, existing product). After the Russian invasion of Ukraine, many Ukrainian companies have successfully brought their products to the western markets. It’s real, and it’s a big step for your business.

Diversify activities (new market, new product). Making something brand new in an unfamiliar market is the most risky option in a short term horizon. But looking ahead, this is a good way not only to scale up your business, but also to reduce future risks.

Each of these ways requires careful analysis and realistic financial planning.