Once your company has been established and the ‘start- up’ period is over, it is essential to start thinking about ways to grow your business. This might seem scary in our current economic environment; however, the survival of your business depends on it. So learn all the tricks to grow your business in the current uninspiring economy. In fact, there are many growth strategies you can quickly implement that will sustain long-term growth. Today we are sharing real-life ideas from successful businesses, pick any you would like to implement and don’t hesitate to contact us if you want additional information or our help…
– Identify an existing model for growth and develop a business plan. Try to learn from others in similar situations. Look at other successful companies similar to yours to see how they have done, what they do differently, and then work out your path.
– Aim to get a wider client base. Extend your reach through advertising; consider media platforms that target a similar market. Websites and social media can be a great way to widen your client base, especially when you are targeting youths.
– Broaden the availability of your products. The key is to distribute your products in as many outlets as possible. You can do this on your current website.
– Diversify your product range. Focus on the related needs of your already established market or on market segments with similar needs and characteristics.
– You could form strategic alliances with other companies and pitch for bigger contracts.
– Market your business to other businesses. Don’t be dependent on a single or a few contracts because if you lose them, it would mean the end of your business. Promote your business by
distributing your business cards
to prospective clients
designing and printing promotional
material with details of your
business as well as your price
list. Distribute these to existing
and prospective clients
– Encourage word of mouth. If your clients are happy about your services, they are most likely to tell others about your company. Therefore, it is important to offer an exceptional service.
– Social media is a powerful marketing tool. Use it to promote your business to potential clients and gain valuable insight through ‘social listening.’ This can help you build your business profile and attract new customers.
– Attend networking events. Remember, it is not about what you know but who you know. Networking allows you to meet and build relationships with potential clients and other business which can refer clients to you.