5 Simple Ways to Grow Your Business

Investing your valuable time and focusing your efforts on what really delivers results will help you create a robust, profitable business.

Business growth experts have identified five core topics for success;

·      Marketing strategy

·      Sales offering

·      Customer service

·      Operations

·      Financial management

Why do I need a Marketing Strategy?

To grow your business, potential customers have to know who you are, what you do and most importantly appreciate how you will benefit them or help solve a problem.

You can promote your business online with a website and social media and offline by networking and meeting one to one with prospective clients. Engaging with your target audience may well open up opportunities you may not have considered.

Sharing accreditations, testimonials, reviews and case studies will reinforce your credentials.

Should I have a Sales Offering?

One of the simplest ways to build trust with potential customers is giving them the opportunity to try out your products or services to discover how you can benefit them or add value to their business.

It could be a free sample, free consultation or opportunity to use your product or service at no cost for a trial period.

Is Customer Service Important?

How often have you given positive feedback or acknowledged good service?

On the other hand, do you complain if you did not receive the quality of service you expected?

We typically receive multiple requests to complete a survey, how often do you respond? If you are like me, probably very rarely.

Feedback, positive or negative is a valuable tool to ensure you exceed or at least meet your customers’ expectations as well as providing an opportunity to improve where necessary.

Excellent customer service will lead to referrals, the most effective way to grow your business.

Are Efficient Business Operations a Key to Success?

How often do you review your business processes? Probably very rarely but beware of complacency.  Every organisation should strive to do better and only by regularly, critically reviewing your procedures will you have the opportunity to identify ways to improve, make savings, be more productive or importantly, better serve your customers.

How Should I Manage my Business’s Finances?

A simple way to ensure your business will struggle is to ignore cash flow.

Understanding the costs that are incurred in running your business and the revenue being earned is critical. Do you precisely know what is actually making you money and what is costing you more than you receive?

Are your time and efforts too engaged on low margin, low profit activities when you should be focussing on the high margin, high turnover opportunities.

A regular financial review is essential to ensure you do not ignore the key information that will make the difference between robust business growth, stagnation or worse!