The new year calls for new resolutions, and every business owner wants to see their business succeed and grow. We’ve asked several business owners what their advice is for growing a business, and put together a list of the best tips.
- Plan ahead and set your goals
Look back at the last year in order to better understand where you’d like to take your business. What ere the strong revenue months? What were the weak ones? From this we see where the opportunities are and better plan for the coming year. Now you can set your goals. Break the year into quarters, and set monthly goals. Then plan and set strategies for reaching these goals. For example seasonal promotions or special promotions for the slower days of the week.
- Get the funding you need
Sometimes what keeps a business from growing is lack of finances or funding, especially for small businesses. Most business owners that try and access funding through their banks usually get declined – 78% to be precise. However, there are several other funding options available for business owners with terms and rates that are just as good as a bank – alternative lenders. Get matched with the best funding solution for your business here.
- Discover and create new partnerships
Growing and expanding your business depends on a steady flow of new and returning customers. But finding new customers can be challenging. One very effective way to bring new users is through partnerships. By collaborating with another business or service, both partners benefit. You can send a co-branded promotional email through your partners mailing list, exchange links on your websites, create a referral scheme, and more.
- Try new marketing strategies
Marketing is one of the keys to growing your business. yes, it costs money, but it also brings back new and old customers, and the reward is well worth the investment! Make sure your website is up to date and market your business online through Facebook and Google. Try to promote yourself through public relations and articles in local or national press. Create special promotions, especially during the holidays and other seasonal events. Attend trade-shows and conferences, they are always a great way to market your business and get new customers.
- Invest in yourself
Constantly learn and get smarter. Make sure you are on top of the your industry’s trends by reading books and publications, meeting colleagues from the industry, attending trade-shows and seminars. Find yourself a mentor.
Most importantly remember to enjoy what you do. If you wake up in the morning excited about your new day, and what you do then it will reflect on your business and its success.
Good luck and best wishes for the new year!