A business is like a plant; it needs nurturing to grow. Nurturing your business simply means sticking to solid practices that help bring in new sales and clients and retain current ones. If you have started up a new small business and are ready for the next phase of growing it, there are some suggestions you should follow which are outlined below on how to grow your business.
Define Your Brand
Your brand is not just your logo, products or merchandising. It is the total experiences that your consumers or clients have with your small business. This total experience includes all visual elements and customer interactions with your business. It is also how you conduct yourself in business, what information you are putting out there in your social media platforms and marketing, and the consistency in which you do it. These types of things define your brand and build credibility and trust in your business.
How to lead with your brand:
1. Determine who your target audience is. Do not spread yourself too thin.
2. Make a true connection with your audience to give them a feeling of emotional attachment.
3. Influence and inspire your audience. Your business message should be more than just product features.
4. Continue to maintain your brand image and ensure others in your organization do the same.
Put a Face behind Your Products
A big reason for failure is neglecting to put your face behind your products. An absent business owner can appear shady to your prospects. It can leave employees or others on the team with a loss of structure or motivation. This can result in lousy customer service. Although your small business should operate on its own after a while, you still need to have a balance there as far as connecting with people and bringing personal energy to the business.
Bring On New Products
Thriving companies know the importance of bringing new products or services on board to maintain business growth. In the book, Product Leadership, author Robert G. Cooper writes about how executives today all know how there is a strategic need for new products and every leadership team has the ongoing pressure to develop and bring on new products. The corporate motto of today is, “innovate or die.”
Remember, running a business successfully does not need to be complicated. Keep it simple!
For more ideas on how to grow your business, please check out our website.
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Manny Skevofilax is a consultant and speaker that helps his clients successfully navigate the challenges of growing their businesses profitably. Since 2003, Manny helps businesses enhance their results by using his experience in strategic planning, financial statement analysis, operations, organizational development, and team-building. His consulting firm, PORTAL CFO Consulting, Inc., has attracted clients from diverse industries in the United States and abroad.
Manny can be reached at 410-808-3441 or via email at manny@portalcfo.com.