Life of a Business Owner

Conversion is the king

What is the most critical factor for building a scalable business? It is a conversion. I don’t mean conversion from site visitor to a buyer but the conversion from reach of advertising into a buyer. Only by evaluating this factor, we can estimate how many customers we can potentially have in the future.

Let’s look at the example. Imagine that our advertising has touched one hundred people, bringing us ten customers. This is much more promising for scaling the business than reaching 10,000 people and receiving 100 customers, although the number of buyers in the second case is ten times more.

The first option still looks more attractive for future scaling because when we pour more money into advertising and reach the same 10,000 people, we can expect 1,000 buyers. So focus on conversion.

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