Do you wish that you can start your own business? You really want to break loose of your 9-5 schedule that leaves you unfulfilled, unchallenged and not maximizing your potential, but are worried about the myriad of challenges and responsibilities that creating a new business entails. Sales, marketing, taxes. You will have to invest a lot of energy and money, but, as with all investments, they can grow exponentially. Let us give you some core strategies to help you in growing your business into a healthy and hopefully successful venture.
1. Sales Funnel
First and foremost build a sales funnel. People are always questioning what the most effective sales technique is. Of course, there’s no one right answer. We wish it was that easy! So how then do you turn someone who has never heard of your company, into a paying customer? There are thousands who may visit your site, only a small percentage will be interested, and only a fraction of that will become customers. So instead of thinking how to get more leads, think of ways of how your sales and marketing efforts can work together to put your customers on the right path. Whether it’s free shipping on the first order or a pop-up on the home page with a promotion coupon, think of a strategy that will work for your company. Because it is such a fundamental tool, plan it right. It’s worth it.
2. Learn From your Competition
You may be a novice, but there are many in your field who have years of experience that you can glean from. Check out what worked for them and most probably, it will work for you too. You can check which ads ran the longest and try something similar. Check out how they used the different stages of the sales funnel and emulate that. Read their customer reviews to get a feel of your future clientele. You can start researching your competition even before your company is formed and it will be helpful until way after it takes off when people are beginning to research you.
3. Social Media
Social media is an effective tool if used properly. It’s a great vehicle to promote your business and the best part is that it is totally free of charge! It will also give you the opportunity to get feedback from customers by inviting and reading comments. You will learn what others are saying about you and what talks to your target audience. Customer satisfaction is the key as you want your customers to generate more new customers.
It may seem staggering, but according to a current Pew research on December, 2018, 79 percent of U.S. consumers shop on the web or from their phones! That’s why a strong online presence is crucial. Make sure your business is easily accessible and attractive on the web, and take advantage of available technology to give your consumers the best possible online experience.
5. Keep your Clients
With so much competition in every field, people are always making sure that they are getting the best. It’s important to keep your current clients loyal to your company, so make sure to create an incentive for your customers to spend more with you.
6. Look to expand
Even if your business is growing quickly, don’t be complacent; always look for ways to offer more services within your niche. Think about what more your customers would benefit from. In order to continue to grow, you must expand.
7. Stay organized
Last but not least, organization is crucial. Because there is so much to be done, it’s nearly impossible to remember all of it. Make yourself a list and as the day goes along, check off what you’ve done. This will help you focus and maximize your time and energy. It’s important to stay organized on the financial front as well. This will allow you to know where your business stands financially, how much you have to invest and which projects, items, or services brought in the most revenue, so you’ll be able to put your money where it’s worth it.