Tag: growing a small business

7 Tips to Growing Your Business

by A.C. Brian

As a business owner, one of the main challenges I face is growing my business. You know the drill. You come up with an idea that’s “the next big thing”. You develop your product (or service), fill out all the state required LLC paperwork, build a website, and begin marketing. Soon customers start rolling in, and you start getting some traction. Excitement starts to build. Maybe you can actually do this thing…

But fast forward 2 years and your business seems to be in the same spot. You produce a quality product and have great relationships with your customers, but you are barely making ends meet. Sound familiar? You’re not alone. Many a business owner/entrepreneur have found themselves in your spot.

In order to bring in the profit you desire, you need to scale your business.

scale your business

I ran into an article on Facebook a while back called 7 Tips for Growing Your Business Quickly and Sustainably. I’ll summarize my takeaways below:

  1. It’s All About the Data – “The more you know, the more you grow”. Get the data that revolves around customers and potential clients. Data such as: how long it takes customers to move through your sales funnel, how long they remain customers, why they leave or stay, how they engage with you, what attracts their attention, what are the biggest issues with your product/service, what they love about you, etc.
business growth strategies
Source: best consult
  1. Keep Things As Simple As Possible – Complexity kills in business. It’s the key dynamic that slows or hinders progress. Keep your processes simple to make it easy to stay engaged with your clients and drive efficiency.
  2. Ask For Help When You Need It – It’s not a sign of weakness to need help as a business owner, it’s actually a sign of strength to admit that you need it. Don’t struggle alone. You’ll be surprised at how willing people are to help you.
  3. Time Is Your Most Precious Commodity – The one thing you cannot create more of, no matter how much you make, is time. You only have 24 hours in a day, so be ruthless with your time. The more efficient you are with your time, the more you will have control over scaling your business.
  4. Just say NO! – Seriously, just say NO to anything that isn’t directly aligned with your goals. Say NO to mediocrity. Growing your business requires you to make the tough choices and say NO, because you need to function at the highest level.
growing a small business
Source: jsib
  1. Be Adaptable – Be firm in the goals you have set, but be flexible and adaptable with how they are met. Develop the ability to switch directions quickly in response to the market. Don’t be afraid to change course to go where your ideal customers are.
  2. Continually Invest In Yourself – Your business growth mirrors your own personal growth. Be coachable. Seek out mentoring. Join a mastermind group. If you don’t grow as a person, neither will your business. An investment in yourself is an investment in your business. Never stop learning.

This article first appeared on Inc.com and was written by Gordon Tredgold. You can find the original here

How To Grow Mom and Pops Businesses

Outfoxing the most threatening competitors and sustaining in the race of winners, in the present era of revolutionary and technologically advanced methodologies, involves nothing but a simple turnaround of creative ideas and implementation strategies. Any business can reach its pinnacle if its ground work is solid and well laid with least costs to get it in the gear. This post will go through 6 helpful points on how to grow mom and pops businesses and expand.

Talking about Mom and pop business, we would say, they are an indispensable part of the US economy and even though their package deal is pretty attractive they are often neglected for their contribution.

mom and pops businesses
Source: fast company

Read more about some creative marketing ideas for mom and pop shops

Being an integral part of the way business works in the US, there are a few tricks, which could go a long way in building and growing a Mom and Pop business in the country. Entrepreneurs looking to grow their business could certainly initiate on these tips and take their Mom and Pop business to the next level. Let’s begin!

Be Interactive:
The foremost priority is that you do not take a giant leap but build it up slow and steady. Build up your business by selecting only limited customers initially. Interact with those customers on a one to one basis, understand their needs and implement on them. Send across the message that you are serious about the business and you are here to stay.

Stand United:
The basic crunch behind the success of a Mom and Pop business is the family working together and growing together. It’s their baby and they take care of it together by covering up for each other in terms of responsibilities and working hours. Thus, it is essential that your family and you take on tasks as a team.

how to grow a small business
Source: feataz

Do not go overboard with expenses:
Keep a tight leash on business expenses. Only spend what you know will come around or on what the business cannot do without. With limited business expenditure, the probability of profits becomes higher. Gradually as the business starts to grow, begin introducing expenditures essential for its growth.

Adopt the ways of the world:
According to Internet Retailer, a shift towards online shopping is the latest hype in the business world and more than half of the US citizens are involved in it. To grow your business, move in the same direction. Capitalize on the newest trend in online sales. Formulate an e-commerce platform besides physical sales.

Tap on the virtual world:
Social sites are the biggest tools in reaching out to millions and accessing the virtual world. Tap on these tools. Make your presence felt Make your presence felt in the virtual world and through those loopholes bring in real customers.

growing a small business
Source: pinterest

Spread your wings:
Do not hesitate to open up new ventures. This will help your brand grow and become recognized. Work around the clock as a team and grow together to include more in your family. Yes, open up new branches and spread out.

Here are 5 tips on how to grow mom and pop business

Behind the growth of every business, there is a well-defined idea, which needs to be worked upon studiously and strategized.  But before you begin, make up your mind and prepare yourself to work with perseverance and to stay attuned to the changing trends.

How to grow Mom and Pops business
Source: hip new jersey

Mom and Pop businesses are an integral part of the US economy. To grow and expand, they need to take new routes to success. They need to work their way out of their stagnant and conservative strategies and walk along with the changing trends. Do you need professional advice on this topic. Our experts at Flagship Financial can help. You can book a consultation to discuss this further.