5 Tips to Help Owners Grow Their Business




  • by Michael Lang December 1, 2015
    December 1, 2015

    If you are a business owner or about to open up shop, here are five tips to follow to help your business grow.


    1. Know how many prospects to focus on


    It may sound crazy but having too many prospects can be as bad as having too few. Larger companies tend to dominate mass markets as they have more money, product, and people. SMB’s and start-up companies should centre their attention on satisfying the needs of a small niche market. Your business will find success if you focus on offering your wares to fewer people, than wasting time, money and effort concentrating on as many people as possible.


    2. Find out why your customers are buying from you


    Often entrepreneurs can get a bit big-headed and fall for the ‘we have a better mousetrap’ myth due to ‘our innovational brilliance.’  Probably contrary to the real reason your customers buy from you. It might be for something as mundane as the fact that your shop is conveniently located or you stock the widest variety of a certain product.


    3. Utilise social media to reach potential customers


    In this modern age, the internet is your company’s best friend. Don’t miss the opportunity to build relationships through social media with potential customers long before they even step into your store. This method is the most efficient way to keep your brand in the back of people’s minds so when they finally know what they need; they’ll remember you are selling it. Spread yourself across the social media spectrum but ensure you don’t put yourself out on a site just because it’s popular. A dog grooming business might find success on Instagram and Facebook whereas an I.T company would do better on LinkedIn and Twitter. The advantage of social media is that you won’t have to jump into ‘sales mode’ with each new customer who walks in the door, you might see them walking out quickly if you do.


    4. Continually tweak your sales message


    Once you know why your customers buy from you, encapsulate that into your sales message. Instead of a huge spiel about your products or service, focus on the things customers love about your brand, ‘We are conveniently located.’ As the business grows, change your sales message by your company’s features as they become iconic or are updated to maintain a kick ass message.


    5. Remember you are in sales now!


    Entrepreneurs think they are only as good as the product/service they are selling when, in fact, they are only as good as their selling skills. To get any business off the ground, the owner must not only sell their product/service but their vision, their brand and sell to top performers on the idea of joining the business.


    sales cartoon.the stats don’t lie


    Do you have any tips as a business owner you would like to share?


    Originally published on LinkedIn

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