1. The 4 growth strategies
In the beginning of every year, there are a handful of business people who get excited with the idea of starting a business. However, for many of these individuals, the excitement quickly fades as they come to reality and realize that their business isn’t going to earn them the big money they were hoping for. The reason for this is mostly due to not having a good business strategy in place. In addition, they may have a lot of hopes and dreams but are not realistic enough to know what those dreams mean in terms of profitability. If you have visions of making a lot of money but want to know what path will take you to that point, then here are the 4 growth strategies for your business start-up.
The first growth strategy is to have clear goals and aspirations for your business when you first start-up it. At this point, you must have specific plans in place that you want to achieve. Even though you don’t have the money to invest in advertisements or marketing, it’s important to have a plan so that you will know exactly what steps you will take to reach your desired goals. For example, if you plan on starting a drop-shipping company from home, then you need to have clear goals such as the amount of product you intend to sell in a given time. By having this goal established from the beginning, you will be able to direct all your efforts towards reaching that number.The second strategy that you need to consider when you are establishing a new business is research. If you want to succeed, then you must spend some quality time researching your market. You need to know what type of products are in high demand in your area and what potential problems your business could potentially face down the road. While you are doing your research, keep in mind that there are a lot of opportunities for you to capitalize on. It’s important that you only take on those opportunities that are profitable for your business, after all, it will be difficult to find a lucrative niche if your business does not exist yet.
The third strategy you should consider when developing your start-up is to keep your costs at a minimum. In order to make your business successful, you have to realize that there are going to be some expenses associated with starting up your business. For example, if you intend on offering goods and/or services online, you are going to need a server and an Internet connection. While you do not need to spend a ton of money initially, you will have to continually pay for these necessities until your business has started generating revenue. Therefore, it’s important to set realistic goals before investing a large amount of money into your business. When you expand your business one of the downsides are the increase of costs so its important to budget to keep costs down. If you live in a deregulated area you have the power to choose a new utility provider with a more affordable rate, applying this price comparison principle to some of your other expenses can help to save a significant amount of money
The fourth growth strategies for your business start-up is taking full advantage of technology. You may think that having a website is not necessary, but it can be one of the most important tools you utilize in marketing your business. Without a website, it is impossible for potential customers to locate your business. Furthermore, without customers finding your business, it is unlikely that you will generate revenue. Therefore, it is vital that you utilize technology in developing your online presence.
2. Getting to know your customers and your customer service
As with anything that involves customer service, getting to know your customers and your customer service program can take a little bit of time and a lot of effort. When starting a new business, it is often difficult to know what to offer your customers. However, once you have established yourself and have a solid client base you will feel more confident in who you are and what you are offering your customers.
The first thing that you need to do when getting to know your customers and your customer service program is to understand the basic needs of your customers and your target audience. For instance, if you are opening a day care center you will want to make sure that the majority of your clientele will be in the younger generation. You should also be aware that families will spend a few hours a day at your new business so make sure that you offer snacks and drinks that appeal to this demographic as well. Once you understand who your target market is you can design your day care or business in such a way as to best serve them. In addition, you want to be sure that your services match their needs so when they visit your business they will be comfortable and satisfied.
Next, you need to figure out how much space you will need in your day care or business for your staff and customers. If you plan to have your center located in a school or other child related facility then make sure that your building has sufficient space for your employees and daycare workers. Additionally, you may want to consider the layout of the facilities that you visit in order to ensure that your clientele can easily find their services. If you plan to have a large day care center then you may want to avoid having a layout that is too small as it will take up all of the available space.
Once you have figured out your needs for getting to know your customers and your customer service then you need to be consistent with these values throughout your organization. For example, make sure that everyone in your office understands that the most important thing is first impressions. The customers you serve need to feel like they are welcome when they arrive at your office. They need to know that you have nothing to hide and that you provide a clean and professional environment for them to work in.
Lastly, it is important that you continuously train all of your employees on how to provide excellent customer service. If people do not know how to deal with certain customers then they will give bad service. On the other hand, if you constantly provide good customer service your business will grow slowly but steadily. You need to know how to treat each customer as an individual. You also need to remember that each customer may have different needs and you need to accommodate those needs accordingly. Otherwise, you are going to lose a lot of potential customers over time.
Getting to know your customers and your customer service can take time, effort, and money. However, your business will grow much faster with consistent customer service and excellent service. Remember that customers do not like being treated badly and if you do not constantly take care of the needs of your customers they will go somewhere else. Also, do not be afraid to train all of your employees on how to better deal with customers.
3. The power of social media
The power of social media for your start-up business cannot be overlooked. There is no doubt that social media marketing is one of the most effective and powerful ways to attract customers and build your brand name. In fact, social media has become so popular that a recent survey showed that over 75% of Americans have now registered their accounts on a social network like Facebook, Twitter, LinkedIn, and Pinterest. The reason for this sudden increase in popularity of these platforms is that the advertising and promotional benefits of social media have been recognized and well appreciated by a wide range of people, especially in the business industry.
The power of social media for your start-up business should not be underestimated because it can help you tap into untapped potential customers and clients who already care about what you do and what products or services you offer. And if you are new in the business industry, then you will want to maximize the reach of your advertising and marketing campaigns to reach a wide variety of people who may be interested in your product or service. For instance, if you are opening a business catering to pets, then you would definitely want to use Facebook and other social networking sites because a many pet lovers are on these sites.
Another great advantage of advertising and marketing using social media is that the audience for your messages is massive. Millions of people use these sites to stay connected to family and friends, connect with their work colleagues or other contacts, post blogs, and search for information of all sorts. All these people share common interests and they form communities. This is one of the most important benefits of social media for your start-up business because a large portion of your potential customer base will be made up of these individuals and groups.
Social media also allows you to reach out to your targeted market easily, as well. You do not necessarily have to wait for them to find you in the search engines. Since these sites are visited by billions of people worldwide every month, you can be sure that you will reach a wide audience almost immediately. Through Facebook and other social networking sites, you will be able to communicate with them and engage with them on a more personal level. This personal connection is crucial in building strong relationships with your target customers because your target audience already trusts you.
Social media will also allow you to develop stronger online reviews for your business. This is beneficial in making your company more recognizable to potential customers. Positive reviews about your products or services will definitely give an edge to your business. Reviews written online will also help your business to get popularized, meaning more people will know about your company and its products and services. This is how valuable media marketing really is for a business owner.The power of social media for your start-up business is undeniable. If used correctly, it can be compelling and advantageous to your company. Of course, you will have to remember to use this marketing tool properly and not abuse its benefits. You want to build your brand and reputation as a reputable business, not a spammer. Taking the time to research social media and learning the ins and outs of the process will definitely be beneficial in the long run.