Business Growth: A Guide To Success
You hit the ground running when you started your business, and things are feeling well established. Now it’s time to do some serious growing. What’s next?
Five Ways to Grow Your Business
1. Sales, Sales, Sales
Success in business is all about the Benjamins, baby. That’s why if you ask Siimon Reynolds, a contributor at Forbes, how to grow your business, he’ll tell you one thing: sales, sales, sales. Sales (or, in layman’s terms, getting customers to give you money) is the ONLY way to increase revenue; everything else is “tinkering at the peripheries.” As a mentor to many new business owners, Reynolds has narrowed this advice down to a science; he recommends that new businesses spend 80% of their day focusing on the sales process, and established businesses should spend no less than 30% of their daily time on sales.
2. Get the Word Out
Sales is nothing more than connecting with customers and asking them to purchase your product. As simple as it sounds, it’s a lot easier if your customers already know a little bit about you and, better yet, if they are coming to you. That is where marketing comes in. The more accessible information is about you, the easier it is to gain new customers.
At a loss for how to get the word out? Start with social media and make sure you have a stand-out website. Networking events that you host, or attend are also a great way to get a headstart. Never underestimate the power of giving back to the community. As with all things business, don’t forget to measure your results, so you can focus your energy on the things that are most successful!
3. Provide Great Customer Service
There is nothing more memorable than a great customer service experience. Keep your FAQ pages very crisp and address issues that your customers are usually facing. Your customers want something easy, friendly, and reliable when they are looking for customer service, and the way you provide that to them is a huge part of your brand. Even if a customer had a bad experience with your product or service, if you provide excellent customer care, you can win them back, or even get them to refer you to a friend! So, make sure you always put your best forward.
4. Work Smarter
There are hundreds of menial tasks that need to be done on the day to day of running a business. Working smarter is all about finding ways to consolidate, outsource, automate, and delegate. Can your schedule be rearranged to take out time wasted commuting to meetings or waiting for the next thing to start? Do you have a lot of social media accounts running that you still haven’t gotten an autopilot scheduling program for? If you hire an assistant, will the time it saves you let you work on more lucrative projects? Whatever you do each day that turns into dollars, maximize the time you spend doing those things. Everything else–cut it, or delegate it.
5. Take Great Care of Your Team
Don’t think this point is less important just because it’s last on the list. If your team is overstressed and distrusting of your leadership, all the work you put into the last four points is basically garbage. According to research done by the University of California, feeling motivated, valued, and supported at work can lead to a whopping 37% increase in sales, and 31% higher productivity in general. Amazingly, well-being programs that support these outcomes lead to employees being an incredible 87% less likely to quit. That turn over reduction? Yeah, it saves tons of time. And recruitment costs. And headaches in general.
A Final Word On Business Growth
Remember, your behavior is where your whole business takes its lead, so above all else, don’t be apathetic. Stay passionate and excited about your goals, and about your people.
No matter who you are, what your business is, or how far your business has to go, you can grow your business into whatever you want. As long as you focus on taking great care of the employees that make up your team as they sell, you can make the little things fall into place. Go get ‘em!