Growing Your Business doesn’t have to be difficult, you did the hard work when you set up your business. In simple terms growing your business is dependent upon you selling more products, getting more customers and retaining the customers that you have. If you are intent on growing your business then you will have already considered the scaleability of your business. Do you have the correct process and procedures in place? Do you have adequate systems in place, particularly for sales. How much of your business can be automated? When it comes to the customer facing elements of your business, does everyone know their role and what is expected of them? I tend to work in bite-sized chunks so here are 15 suggestions for growing your business.
15 Simple Suggestions For Growing Your Business
- Pro-active not re-active. Seek out new opportunities and better ways to do things. .
- Service Development. Create additional services with associated price points to appeal to a wider audience.
- Product Development. Enhance your basic product range with premium products and services.
- Package your offer. Bundle products together so that people buy more because of the perceived value and savings they get.
- Diversify. Offer a wider product range. For example a furniture seller may want to offer soft furnishings or room sets.
- Competitors. Know your competitors, if you are serious about growing your business you need to stay ahead of the game.
- Customer Database. Protect, manage and interrogate your customer database. Know who are your best customers and where to get more of them. Know which customers you are in danger of losing, be proactive don’t wait for them to lose do something about it.
- Embrace technology. Technology will continue to change and innovate, stay up to date and transact with your customers in their chosen format.
- Marketing and Sales. Measure everything, review regularly and make changes when you need to. Use the services of an experienced sales and marketing person to give you the strategic input you need.
- Take your business on-line. Sell your products and services on-line.
- Open another branch, store or office
- Enter new markets and countries
- License your product or service
- Franchise your product or service
- Form an Alliance with a complementary business that will assist in growing your business.
Any, or all of these 15 simple suggestions for growing your business will work if you put the time and energy into making sure you do them well. Clearly not every suggestion is appropriate for every business and you should analyse your business first before embarking on any new venture. If you are intent on growing your business then you will have already considered the scaleability of your business. Do you have the correct process and procedures in place? Do you have adequate systems in place, particularly for sales. How much of your business can be automated? When it comes to the customer facing elements of your business, does everyone know their role and what is expected of them?
I will be adding more resources for growing businesses over time, but if you have a question that is not covered then please call me on 01442 244654. If I have the answer I will be happy to help you and there is no commitment to buy any of my services.