Once you have established your business, the next step is to think of how you can grow it. Growth may not happen overnight, but it will surely happen if you take the right steps and are consistent with your efforts. Consider the following tips for growing a small business.
Work On a Strong Online Presence
Most searches for both goods and service providers are done online. Thus, as a small business owner, it will work to your advantage if you establish a strong online presence. Make sure you are listed on search directories, write about your products so people can easily find them, and consider setting up an online store. You don’t have to open an e-commerce store if you don’t have many products. You can just use some e-commerce plugins on your website. As you are doing all these, remember to do some keyword research so as to find the exact words customers are using to search for your goods and services. If you don’t have the expertise, consider hiring someone who is an expert in areas such as social media, copywriting, and SEO services.
Think of New Business
Introducing new products and services, or expanding your market, are two more steps you can take to grow your business. Be on the lookout for new customer needs that you can solve. Check if there is a new market you haven’t explored and find ways to tap into it. When you sell more products and make sales to more people, your profits will grow. However, make sure you test the viability of every new venture before investing your money to avoid losses.
Get the Right Services
As a small business owner, you need to purchase a number of services. Examples include utilities, insurance, software, marketing, and accounting. The key is to get the right services from a reputable service provider. For instance, for something like business insurance, you need a package that will cover your risks from a provider who will not let you down when you submit your claims. As outlined on The Hartford, some key examples of business insurance you can take to cover risks include commercial property insurance, general liability insurance, workers’ compensation insurance, commercial auto insurance, and data breach insurance. The Hartford is a company that provides a wide range of insurance solutions for small businesses.
*** SPECIAL ALERT — May 10, 2020 — Motley Fool Stock Picks On FIRE! ****
The recent Motley Fool stocks picks, even with this COVID crisis, are STILL performing well and beating the SP500! Here are some of their most recent picks and their performance:
- Shopify (SHOP) – April 2, 2020 pick and it is already up 90%
- Zoom Video (ZM) – March 19, 2020 pick and it is already up 16%
- DexCom (DXCM) picked Feb 20, 2020 right before the market crashed and it is still up 17%
- Tesla (TSLA) picked January 2, 2020 before the crash and it is up 77% compared to the SP500 -12% so it is ahead of the market by 89%
- HubSpot (HUBS) picked December 5, 2019 and it is up 4%
- Netflix (NFLX) picked November 21, 2019 and it is up 37%
- Trade Desk (TTD) picked November 11, 2019 and up 50%
- Zoom Video originally picked Oct 3 and it is up 87%
- SolarEdge (SEDG) picked September 19, 2019 and it is up 20%
- Zoom was also picked October 3, 2019 and it is up 95% since then.
The average stock they’ve recommended is up a life-changing 346% – more than 4X the return of the S&P 500 !
Now, no one can guarantee that every pick in Stock Advisor will have the same mind-blowing returns as Netflix and Disney. But you sure don’t want to risk missing out.
Normally the Fool service is priced at $199 per year but they are currently offering it for just $99/year if you click this link.
When it comes to software, choose affordable solutions that are effective and efficient. Reputation is an important consideration when making a decision. With the right solutions, your operations will run smoothly, and growth will not be hampered.
Offer Exceptional Customer Service
Great customer service can give you two key benefits; one, customer retention, and two referrals. When your customers are satisfied, their chances of going elsewhere reduce. They can also share their satisfaction with others, and this leads to more business. Thus, as you work on other business processes, don’t forget to work on your customer service.
Keep reviewing everything you are doing and make changes if you don’t get the desired results. And, when you start to see some significant growth, don’t stop. Make the efforts continual if you want the results to be continual.
INVESTING TIP #27– HOW TO GET FREE STOCK!
Get Up To $1,000 in Free Stock with Robinhood–the
Open a new account and receive one free stock valued at up to $500! Then, once your account is open, get more free stocks (value from $5 to $500) for each friend, family, person you refer!
USE THIS LINK to get started with Robinhood!