Running a business is not easy, and it is not cheap. There’s a lot of money and mental energy involved. You would think that people must patronize you because you are working very hard. But it is not so.
Making your small business grow is not easy. That’s why I will show you how to grow your small business today.
And guess what? You don’t necessarily need a unique idea or a huge marketing budget.
These 6 solid tips will propel your business to the next level!
1. Have A Business Plan:
You need to have a business plan. A business plan is not a complex document, it is just like a map that shows the ideas that can move your business from where it is to where it should be after a specified period.
Getting distracted is a common pitfall, but it’s important to identify your objectives and develop a strategy.
For instance, if you are selling products or services, you can set specific targets, like determining how much you want to sell within the next 50 days, and calculating the number of appointments required to meet this goal. You might also consider where to get these appointments and the necessary activities to generate these leads.
Armed with these insights, you create a comprehensive execution plan. Adopting a more scientific approach to sales can increase your likelihood of achieving your targets rather than relying on chance.
2. Listen to Your Customers
Make the most of the valuable qualitative information that your customers provide daily.
Whether it’s feedback about an issue with your product/service or a brilliant suggestion for a new feature, consider incorporating changes whenever feasible.
Listening to your clients will help your small business grow as it enables you to understand their needs and tailor your products or services to serve them better. It also shows that you value their opinions and are committed to improving their experience.
Imagine you own a coffee shop, and a regular customer named Tom complains that your coffee is too bitter.
You could ignore his comment and continue serving the same coffee, but by listening to Tom, you realize that he’s not alone in his opinion.
So, you decide to adjust the recipe to make the coffee less bitter, which not only pleases Tom but also attracts new customers who previously avoided your shop due to its bitter coffee.
Another example could be if you run an online clothing store, and a customer named Glory suggests adding plus sizes to your range. You could ignore Glory’s suggestion and continue catering only to your existing customer base, but by listening to her, you realize that there is a significant demand for plus sizes, which opens up a new market for your business. So, you decide to expand your range, which not only pleases Glory but also attracts new customers who were previously excluded.
In both cases, listening to customers’ feedback resulted in positive changes that improved their experience and attracted new customers, ultimately making your small business grow. So, it’s essential to listen to your clients, even if their feedback seems trivial or negative at first, as it can bring about positive changes and opportunities for your business.
3. Focus on Your Existing Customers
To make your small business grow, you might think that getting new customers is the most important thing.
But, it’s actually better to focus on the customers you already have because it’s easier and cheaper to get them to buy more from you than to find new customers and convince them to buy from you.
4. Ask People to Refer You
Getting new customers is still a good idea, and a straightforward way to do it is by asking your current customers if they know anyone who might be interested in your business.
Just hoping your customers will spread the word about your business is not enough – you need to seek out referrals actively. After each job or sale, ask your happy customer if they can recommend your products or services to someone else.
This is how I met many of my current customers – through Referrals. My last two roles were gotten through referrals.
So don’t just sit down there as a small business owner. Ask your happy customers to refer you. You know what this means? You have to be excellent enough to have many happy customers.
5. Learn From Mistakes Quickly
Business owners make mistakes. It’s not a new thing.
You have to make sure that whenever you make a mistake, you learn from it quickly!
Focusing too much on past errors can prevent you from taking action to correct the situation and move forward.
By acknowledging your mistakes, you can identify what went wrong and take corrective measures to prevent the same error from occurring. This proactive approach helps to avoid the same mistakes from happening repeatedly, which can damage your business.
Moreover, dwelling on mistakes can cause unnecessary stress and negatively impact your mental health as a small business owner, affecting your decision-making abilities. You must maintain a positive attitude and focus on solutions rather than problems.
6. Treat People Well
Treating people well is an essential step towards growing your small business, and it can positively impact various aspects of your business.
Firstly, treating employees well can improve their motivation, job satisfaction, and productivity. Happy employees are likelier to work harder, be more engaged, and provide better customer service. This, in turn, can lead to increased customer satisfaction, repeat business, and positive word-of-mouth referrals, which are all crucial for small business growth.
Secondly, treating customers well is critical for small business’ success. Satisfied customers are more likely to return, recommend the business to others, and leave positive reviews. Positive reviews and word-of-mouth referrals can effectively attract new customers and grow the business.
Finally, treating suppliers and partners well can also benefit the business. Building solid relationships with suppliers can lead to better pricing and timely delivery of goods while treating partners well can lead to opportunities for collaboration and increased exposure.