10 Quick Wins to Grow Your Small Business
While getting a small business venture together is a demanding and complex task, most experienced business owners will agree that the real challenge is to continuously expand once the operation is already in full speed.
One of the more difficult aspects of this challenge is that it is ongoing – there are always new audiences to reach, your production can always be more effective, and, of course, profit can always be higher than it is. So how do you run a business with the purpose of always getting ahead?
The following 10 tips will help you set in motion a process of continuous growth. Instead of tackling a specific issue, these steps are meant to create the opportunities for evaluation, change and increased success. By implementing the ones that apply to your field or industry you’ll quickly be on the right path for ongoing business growth.
1. Think in Quarters:
Instead of elusive and undefined business plans, divide the year into four and prepare for each quarter a detailed business plan that is both feasible and ambitious. This way you will be able to track the advancement of your venture more easily, detect your weaknesses and acknowledge your strengths.
2. Diversify Your Marketing Strategy:
If you put all of your resources into one marketing technique you will at some point reach a dead end. A combination of various online platforms, traditional “on-the-ground” marketing, and advertising that matches your budget will deliver your message to a broader audience than simply sticking to one marketing method.
3. Pay Attention to Client Retention:
Too many businesses make the mistake of neglecting their existing customer base and keeping their eye out for new clients only. This is a major fail. Client retention – the art of guaranteeing that your current clients keep coming back for more – is a key element in maintaining ongoing sales while getting the bonus of satisfied clients spreading the word for you.
4. Join the Local Conversation:
Think about how your business can become a part of a community and work on strengthening local ties. This can be either through participating in local business forums, by sponsoring community events, or by teaming up with other local businesses for unique cooperations. Here’s one local initiative that Wix is running in San Francisco, for example.
5. Stay Updated:
Regardless of what your company does, as a business owner you should always be on top of the recent trends and cutting-edge news in your field, as well as in marketing and sales news. Sign up for leading business and niche blogs to get regular updates on important developments. Are you already getting RSS updates from the Wix Blog, for instance?
6. Understand Your Audience:
If you want to be able to appeal to your target market you need to know what’s on their mind. Research their habits, their aspirations, the way they talk and how they perceive of themselves. The tricky part here is that these are not eternal definitions. People change, and your understanding of them should change accordingly.
7. Consider Outsourcing:
Some business owners find themselves in a spot where it becomes clear that in order to grow they need to delegate responsibilities to other professionals. Time and effort are not the only reasons to do this. You may want to outsource some aspects of your work if you believe that an outsider will be able to perform them better, thus contributing to your own success.
8. Improve Branding:
Your brand is your business identity. It’s how you define yourself and how you want your clients to see you. Your logo, the colors of your products, the words you use to promote yourself – all of these and more are important branding techniques that you should be continuously optimizing. Here’s some recommended reading on branding.
9. Look at the Calendar:
Holidays, seasonal events, and high-profile dates are superb opportunities for sales, contests, newsletter updates and other important marketing techniques. Come up with an attractive message that suits the nature of the event. This will strengthen your brand visibility and boost your sales at the same time.
10. Set Up a Powerful Website:
The foundation of your business online presence should be a professional website that is designed to appeal to your target audience. You can use Wix to create your own business site, and the best place to start would be the gorgeous website templates gallery.
By The Wix Team