For those who have survived the startup phase and built a successful small business, you may be wondering how to take it to the next step. You have several options to help you grow your small business – we’re going to outline a couple here. Remember, choosing the right areas of focus all depends on what type of business you own, your available resources and the cost.
Building your team
Now that your business is off the ground and running, you may need to take a step back and let someone else take the reigns. Building a trusted team is essential for continued growth and success. It can also give you time to look at the big picture while your team handles the day-to-day activities.
Become top of mind
In a world where almost everyone is digital, it’s important to have a strong online presence. Make sure you’re keeping your website and social channels up to date.
Any online features you have where customers can engage with you should be intuitive and secure. A safe and easy experience is exactly how you want your customers to remember doing business with you.
Penetrate your current customer base
Acquiring new customers can be challenging and expensive. Rather than working to get new customers, try shifting the focus on the customers you already have.
You know what they say: 20 percent of your regular customers will account for 80 percent of your revenue. It can be easier and cheaper to get your current customers to purchase more from you than it may be to find new customers and “sell” them on your product.
Direct your attention to the core customers you already have. Don’t be afraid to start small. Something simple, like a customer loyalty program, can reward your regular customers and show your appreciation for their continued business.
Planning your next move means anticipating all possible scenarios. The best way to continue growing is take your time and do what’s right for you.