By Sarah Davis,
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Finding strategies that encourage growth can be a difficult task for small business owners. You won’t have the financial resources that larger businesses have, so there is always going to be some element of risk. However, this does not mean that growth is unachievable. It simply means that you will have to put optimum effort into the methods that work better for small businesses. This will mitigate the element of risk while providing the opportunity to grow. Here are five small business growth tips to start utilizing going forward.

Focus on Content Marketing

Marketing is key for every small business, not only to ensure that your campaigns are cost-effective, but also that your content is drawing people in and converting to sales. You could be struggling to compete with businesses with enormous budgets, but you can compete with them if you are able to create unique and engaging content. This can be through email, social media, or physical leaflets.

Marketing, especially content marketing, is one area where it is worth paying more for help from experts. If you use email marketing as an example, if your content is poor, there is a good chance it will end up in the spam box of the intended recipient. Even if it does arrive in their email inbox, you need to make them read it and arouse interest in your products. Content is essential, so pay attention to it because if you get it right you will attain quick growth.

Go Back to College

Going back to college to learn has been shown to improve the fortunes of a business. Many business owners dismiss the need to go to college. There are many stories of entrepreneurs who dropped out of college or didn’t go to college at all, however these are a tiny proportion and to make a success of your business you will need knowledge and experience. College will provide this as well as an opportunity to widen your network.

The cost of college can be a reason why many people dismiss it; however, you can take out student loans from private lenders in order to cover the costs. The investment you make in your education will be paid back in the long-term. The confidence you gain in your ability will manifest itself in the operations of your business and you won’t regret the decision to further your education.

Use Technology to Your Advantage

Technology is your friend when it comes to growth. There can be reluctance on the part of some businesses to implement technological solutions because of the cost, however the long-term benefits are what should be considered. Therefore, it is an investment. Take a thorough assessment of your operations and look at the areas that would benefit from technology.

One good example of technology allowing you to achieve growth is through the use of AI. AI solutions can make operations far quicker and allow them to be more streamlined. Helpdesks are an area where time can often be consumed by trivial problems. With AI help desks, automated chat boxes are able to answer questions without taking up the valuable time of your human employees.

Optimize Your Customer Service

Customer service is essential if you want growth. Word of mouth is one of the best and cheapest marketing tools available, which is why you need to provide your customers with an optimal experience. Your reputation for going above and beyond will be rewarded with more customers. You should also ensure that your employees are trained to the highest standards in order to provide for your customer’s needs. The human element can often be overlooked in business, and when customers receive service which makes them feel like people rather than just another customer, they will gain a sense of trust and loyalty. Listen to their feedback and don’t dismiss any criticisms or complaints they might have.

Invest in Staff

Your staff are those who make your business. You might be at the top, but they are carrying out all the little things that make a business come together and be successful. This is why you need to prioritize building a successful team and have the best employees possible. This might seem difficult as a small business, but it is not impossible to find talent if you look in the right places.

Even if you have to pay higher salaries, you are going to be getting staff that will help you grow. Local colleges will be full of students who are eager to prove themselves and get on the career ladder so take advantage of this. You can ask the college if you can collaborate and offer internships to some of the best students. You should also be ensuring that your staff are trained to the highest standards so that they can carry out their jobs efficiently.

Sarah Davis
Sarah Davis
Sarah Davis is a business executive specializing in mergers and acquisitions, corporate finance, and international law. She achieved her MBA from Cornell University after completing a legal undergraduate at UC Berkley. Sarah runs her own business consultancy firm in tandem with working alongside the FinImpact team.

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