When we talk about scalability in business, we refer to the ability of a company to grow at a large scale without placing too many extra demands on the business itself.
What defines a scalable business? A scalable business can be thought of as a combination of any of these attributes:
- Large potential market
- Capital investment is low
- Investment remains constant or stays the same
- Workload doesn’t increase in direct proportion to the business.
To understand what makes a scalable business, let’s first look at a couple of choices that definitely are not scalable.
Accountancy firm: As your list of clients grows, so d.o your stacks of files, and so does your workload.
Doctor: You can cure one person at a time, not thousands of people at a time. So you can’t grow your income at a faster rate than your number of patients.
These businesses or career choices can be highly profitable, but are clearly not scalable.
Now, let’s take a look at some examples of businesses that are scalable:
Software: Work is done on a single product, but it can be released to thousands of customers at relatively little additional cost. But it can be costly to start, and even costlier if you need to offer customer support.
Photography or artwork: Artists who license their work to companies like Shutterstock or Getty Images get a royalty every time their work is downloaded. So they take one photo or create one design that can be used by potentially thousands of users. But the problem here is that the royalties are tiny, and you need many, many thousands of downloads on a large number of photos to make it a dependable source of income.
Broker affiliate or introducer: This is the ultimate scalable business.
You get paid by referring people who are interested in trading to online brokerages. When they trade, you make money.
Partnering with an FX broker ticks every box of owning a highly scalable business.
Easy to start
It’s just a matter of signing up, verifying your account, and using your referral link / ID to refer business.
Most affiliates and IBs don’t need anything more than a social media account, a website, and an audience or network of people they know.
High work reward ratio
As your audience or network grows, so does your income, but your workload remains largely constant.
No customer support
Brokers have their own in-house teams that handle client support, so you can focus on growing your audience.
You can run your business from your computer or your phone, from anywhere with an internet connection.
Potential for high returns
Each referred client has the potential to bring in thousands of dollars in commissions for the partner.
Many businesses can be overly reliant on external factors such as seasons, or the health of the global economy. FX trading is one of the only businesses that thrives under any condition. So you can continue to scale with the risk of interruption.
It’s everything an individual hoping to start a business for themselves could ever hope for. All you’ll need is a bit of education on how trading and the markets work, the will to make a go of it, and that’s really all there is to it.
We’ll be glad to help you on your way to becoming a successful, independent, and profitable business person.