Every entrepreneur starts his business with a hope of earning profits no matter how big or small it is. When you start to earn the profit, you begin to think of getting more profit from your business. You plan to expand your business, invest more money and expect more from your business to make your small business into a huge one. As you were following my words, you might be thinking if it is the way of improving my business why can’t I improve my small business to a large one?
Improving needs a little push of your limit. Perhaps, you need to think more about your investments, staffs or improving your products, reducing unnecessary costs etc. Taking the right decision will help you grow your small business to a massive one. Let’s take a look at some of the ways through which you can improve your small business –
1. Bill faster: It can be a tough one as businesses and receivables are closely related to each other. Global businesses depend largely on receivables but it’s perfectly fine as soon as you can bill it faster. Because your receivables can count for 40 – 50% of your actual assets. So, billing faster will help your small business grow.
2. Get your business and your website listed in relevant directories: To find directories, Google the name of your town plus directories URL” (e.g. “cobourg directories URL”).
3. Learn to delegate: Figuring out the things that could turn dollars towards yourself will help improve your business. Learning to delegate substantially help you and your business.
4. Reward your team for meeting budgets and timelines: A 5% bonus is less expensive than a 20% increase in costs. You might be thinking of how a bonus can be cheaper? The truth is it’s cheaper as your employees are meeting deadlines and budgets that help you earn more.
5. Start social accounts: If you are really looking for improving and reaching your target customers more effectively, you can’t deny the importance of starting your social accounts in Twitter.com, Facebook.com and LinkedIn.com etc. and post articles in every possible place of where your customers may roam.
6. Invest in Customer Service: your customer touch points are the most crucial places of your business. Think, if a customer becomes dissatisfied before even using your products or services, how are you going to improve your business? So, investing in customer service really matters.
7. Use high impact marketing: Marketing boost up your sales but it may earn nothing for you if you waste your money on ineffective marketing. As you have limited resources, you have to be very careful about spending money in the right places.
8. Motivate staffs: Talented and motivated staffs can bring big improvements in your business. Motivating staff thus will push your sales beyond your target.
9. Press releases: There are many websites that allow submitting press releases at no cost. Utilizing these types of resources help you to expand your reach and let more people know about your business.
10. Ask for reviews: review sites like Google+ make it easy for people to rate their experiences with your business. Asking your valued customers to give feedback on these sites can help spread awareness about your business and get valuable feedback as well.
11. Share pictures and videos: Sites like Instagram and YouTube are a popular form of spending time. Setting up an account and a profile of these sites and upload your photos and videos there help you interact with other users to spread awareness and drum up your business.
12. Offer deals or giveaways: Free stuff are always loving. People become more interested in your business when you offer your customers a good deal or giveaways.
13. Network and collaborate: Networking was, is and always will be a good way to promote your business online for little or no cost. Exchanging links with your online friends is a good way to bring in traffic and business.
14. Blogging: It may seem uninteresting but blog really does drive traffic. Increasing blogging and sharing or promoting them to Facebook will help to improve your business.
15. Optimize your site for SEO: you should consider making your site look as good as possible rather than trying to manipulate your search-engine rankings. There are several software that can give you a complete SEO audit and show you what you should fix.
16. Automate your e-mails: Marketing automation platforms are great for small businesses. Automation platforms can help onboard you and can even waive the kickoff fees that can cost several thousand dollars.
17. Find partners in your industries: You should include an information pack on your business or products that people could download from your website. It can be as simple as a PDF file. It will help your customers know about your business.