There are numerous strategies for small business growth.
These are two of the most important and two of the most often overlooked.
Small Business Development For Growth: Advantage of IT
Information technology helps individuals too, but the IT field would not be as large as it is today were it not for the help it provides to businesses. Affordable software can allow you to build a database that includes your current customers and your prospects.
You can access the database to quickly print a list or view of customer phone numbers, physical addresses and email addresses to use for marketing if designed properly. The list can become a functional part of your auto-email system, once you have that piece of IT.
Almost all companies today have at least one website because of the accessibility of IT and the ease with which a website can be designed by people without any coding experience. With just a little more effort, you can allow customers to place orders on your website or sign up for email newsletters or other promotional material.
You can download templates off of the Internet that will help you create a simple business plan to use when you are trying to attract investors. From getting startup funds, to keeping current customers and attracting new ones, there is something in the IT field that will help.
Small Business Development For Growth: Get Ready to Hire Some People
Hiring people is one of the important strategies for small business growth. It is particularly important for service-oriented businesses.
Many of the smaller businesses are service-oriented. Childcare, adult daycare, pet sitting, pet grooming, lawn care, housecleaning services and home repair are just a few of the many service-oriented businesses.
If you aren’t growing, you are falling behind. There are many different tactics to help your business grow. This might be through organic growth or inorganic growth. This could be through existing customers or new customers.
In this video, we go through 12 different small business growth strategies. Examples of companies that leveraged each of these strategies and how they did it.
By the end of the video, you should be able to have a few different plans of how you could take your business to the next level.
Be Sure To Watch This Video!
Hiring people might not be something you think you can afford to do at this time. But you should at least start to plan for it. You can do that by talking to your friends or acquaintances … people who might eventually be willing to come to work “with” you.
Instead of paying an hourly rate, you can offer to share a portion of the profits. As you are able to provide more services, your profits will grow. You will make more money, even though someone else is doing some of the work.
In addition to these two strategies for small business growth, you will also want to think about selling higher-priced items, coming up with new items or services to reach a different customer base and making an effort to build a relationship with your existing customers. Today, relationship-building is a major point of focus for businesses of all sizes.
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