21 Tips to Grow your Business
from Australian News.com 25 Mar 15 enhanced by Peter/CXO Wiz4biz
Starting a small business is a dream for many around the world, but it can be challenging. Entrepreneurs who are successful in a wide range of industries, share their best advice for making your company a success.
1. Deliver a “consistent” Customer Experience. Owner of cycling tour business – Tour de Vines – says you need your business to almost run itself before you consider to grow it. “The thing about working for an employer is that the business model is already set, it’s about the execution of the idea. Whereas, a new business is about testing the idea first and developing the systems to bring it to market.”
2. Add a “personal” Touch. Co-director of commercial asset financing company Magnolia Lane Financial Services, says: “In our industry – like most service industries – everyone is essentially selling the same thing. You’ve just got to do it better. Our #1 goal when dealing with a new client, is to establish a relationship and make them feel special. Make sure you are remembered. We make it our priority to see all of our customers face to face. Creating rapport is what will result in repeat business and an income stream for life.”
3. Leverage Social Media. A strong marketing strategy is essential in every industry, says the director of manufacturing firm. That means social networking — on LinkedIn, Twitter, Instagram, Facebook or all of them. “Our brand is everything, so whatever we can do to promote that brand and consumer awareness, is critical.”
4. Collect your Thoughts. A CEO of a memory foam mattress company, says the volume of information available can be overwhelming. He recommends writing ideas & tips in a notebook or tablet as they come up. “It has helped me make some major decisions, and also saved me hours of searching for something I’ve read somewhere.”
5. Focus on your Specialty. In the first few years, there can be a lot of pressure to diversify your offering, says the director of cake decorating company. “Stick to what you do best and do it better & with more focus than anyone else.”
6. Out-source the things you don’t do. (to your Staff or Consultants) Resist the temptation to chase work outside your offering, and use a specialist to fill in any gaps, says a CPA. “I outsource my HR, my IT, much of my marketing. The time you free up, you can spend doing what you are good at.”
7. Aim High & be Persistent. Determination is one of the vital qualities needed, when you start on the long road of setting up a new business. Co-founder of fashion retailer, says: “Believe in yourself & your strengths. Don’t take ‘no’ for an answer. There will be bumps along the way, but everything has a solution or another option.”
8. Embrace a Life “less frantic”. Author of small business advisor – Flying Solo – says it’s all about finding the right balance for you. “I am learning that I don’t just need physical space to thrive, I need mental space too.”
9. Follow your own Path. An illustrator says she’s not naturally business-minded, but has always worked really hard and built up a strong folio of work. “My business is all about me: my style & what I create. An important part of developing that was staying true to myself — not worrying about what other people were doing.”
[ 10. Take time, 11. Use your best Habits, 12. Practice Mindfulness, 13. Setbacks & moving forward, and 8 more, in Premium Content.]