Business Ideas & Consulting Services
As a Business Troubleshooter ™ I pride myself in producing fresh, creative solutions to meet your Business Needs!
Ideas for Growing Your Business
For those of you who have already successfully started a business and are ready to take the next step, you may be wondering what you can do to help your business grow. There are many ways to do this and will depend on the type of business you own, your available resources, and how much money, time and resources you're willing to invest all over again.
While you've been working hard at your core business, your marketing efforts may have become a bit stale. As a Business Troubleshooter ™ I can review your business goals and build a solid marketing strategy with practical, actionable and affordable strategies that will positively impact your business. With a little fresh thinking, your business can go from stale to growing in no time.
Here is some tips you can follow to help grow your business. Some of them you may already be doing, but you’re likely to get some fresh ideas.
Review your business plan
You should make it a habit to regularly evaluate and review your business progress so as to test your business strategy. Check if you are achieving your goals or not. Check if you are utilizing all your strong points and making use of all opportunities that come by. Look at the where you would like your business to be next year and formulate a strategy that can help you reach there. Come up with new objectives and set a strategy.
Refresh your special offers
Check if your products or services are still as attractive and as popular as they used to be. Come up with new strategies that can help you enhance the product or services popularity. Check if your competitors have left you behind or not. If they have, conduct a fresh research. A simple research should give you an idea of where you are and what ought to be done. Get as much information as possible from your customers. Get information about your pricing and what they think you can do to improve your business.
Convincing your existing customers to buy more of your products or services is cheaper and easier than looking for new customers. You can increase the range of your products or sell the products in bundles.
Remember that the customer keep on buying from you because they appreciate the value you give to them. This means you have already done the hard yards. It’s a lot harder to win a new customer than keep an old one. Just ask how the business can serve them better. Establish a close relationship with them and add value to the relationship as you try to sell to them extra products or services.
Target new customers
This is what a profit minded business person should do. Unfortunately, most businesses rely to much on the existing and loyal customers. This is not just dangerous but it is risky for the business since some customers inevitably have to drop off each year. Singling out the new customers you should target and how to do it can help you succeed. Set your monthly new sales targets and monitor them. Check your existing marketing methods singling out those that work and those that do not. Use special offers to attract customers away from your competitors and work towards retaining them. Monitor any newly acquired customer to ensure that they become loyal.
Open new channels
Many businesses will just focus on one or two channels. Look for another avenue. Why not try selling your products online. Going online can help you expand your client base. It also opens an avenue of selling your products or services to international clients. This can help you go international.
Revitalise your business
A business person can also become jaded. When this happens, you must step back and build a relationship with individuals who can give you new business opportunities and ideas.
Recruit new people
If your business has the capacity to create a new opportunity, use it to bring new faces into your company. Ensure that you bring in new people with new ideas to benefit the business.
Reinvest in your business
To grow your business, reinvesting in it is important. You may use a mentor or a consultant to help you figure out how best you can grow and attract external investment. Incorporating a private investor could be a good idea.
'I'm interested, what next'?
There is no time like the present to get started on your short term and long term business goals.
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Ideas and Solutions That Will Make Your Business Run Better
Vincent McDade / Business Troubleshooter.™
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