Hints To Help Your Business Growth
Author Digital wavesOn 23. Mar 2017
When you first started your business, you probably did a lot of research, seek for advices, read books, magazines, attended business consultant seminars and many other sources that were there to help. You might have invested a lot-in terms of money, time and sweat to get your business off the ground.
For those who have survived the startup and build a successful business now may be wondering what to do next. What to add more, how to expand, where, how and when. Here we have few tips to help you taking your business to another level
- Reward your team for meeting budget and targets. This will motivate them to do more and feel more appreciated by what they do and it’s actually cost effective as a 5% bonus for what they did perfectly is cheaper than a 20% increase in costs.
- Diversify. Is to open other branch dealing with different thing from the previous one. This allows you to have different income flowing stream through all seasons of the year. For example you’re dealing with selling of smart school products you can diversify to opening of a book library/Internet? Stationaries etc.
- Form an alliance. Join forces with people or organization of the same line of business can do wonders in expanding your business
- Invest in yourself. In the early stages of your business, you'll likely see a very small profit or no profit at all. So any money you make should directly be re-invested to the business to help you grow. "A startup's ability to invest in itself helps accelerate growth.
- Focus on your customer experience. Fast growth depends on making your current and potential customers happy. Customers can either make or break your business. Deliver quality experiences and products, they'll quickly sing your praises on social media. Mess it up, and they'll tell the world even faster.
- Go where your market is on the web. If you’re potential market/target hangs out on forums, then post to those forums. Start social accounts with Twitter.com, Facebook.com and LinkedIn.com and articles. Become a trusted advisor. "Bill Gates said that by the end of 2002, there will be only two kinds of businesses: those with an Internet presence, and those with no business at all,"