Login | Join Network
Lost Password

A password will be emailed to you.

Tips for Growing your Business

The economy has changed now and many have not changed their business strategies. One of the most notable differences between successful people and unsuccessful is that the successful ones were not afraid to take a risk but at the some point they chose to make a tough decision, or take a road less traveled, and ultimately excelled due to the choices they made.

Here are few tips that can help your company position itself for growth:

  1. Listen to your audience
  2. When customers are talking about you, it's time to listen. You should allow people to post what they like and don't like about your company. If you aren't getting five-star ratings, then you need to question for yourself that why? By looking at your customer reviews, you'll know what you are doing well and where you need improvement. You should let bogglers to comment on your product or services also check whether people have posted videos about your service or not. This will show you the way to get success.

  3. Change how you do business
  4. If you want to succeed, you need to change how business is done in your industry. The key was finding a competitive position that would meet an unmet need. It shows that what you can do differently from your competitor. Costs to implement changes are lower than they have been in years, and the manpower and talent are available.

  5. Share your customers

    Another way to set your business up for growth is to share your customers with another business to get more customers. If you can partner with non-competing, complementary businesses that have a similar customer base, you have access to a huge group of potential new customers at virtually no cost. In exchange for letting the complementary businesses market to your customer base, you get to market to their customer base.

    Before you share your customers, there are some important steps to remember:

    • Reputation: Make sure the company you partner with has a reputation you want to be associated with.
    • Courtesy: Let the company you are partnering with make the introduction to their customers, and vice versa. It's just good customer etiquette.
    • Incentive: Provide an exclusive offer to these new customers to encourage them to try your services.
    • Recognition: If you're going to market directly to the partnering company's customers, make sure you merge their client information with your own so you don't market to their customers who may also be yours already.
    • Tracking: Make sure you're able to track which new customers come from the other company's customer base so you know if the partnership is equitable.
  6. Stay positive
  7. No matter how hard you try, if you're not feeling good about your business, your employees and customers will know. Staying positive breeds confidence among your customers. If you project a negative attitude, chances are strong that your customers will notice and look elsewhere to do business out of fear that yours may not be around in a few months. Negativity has a way of creating a pall around your business and brand.

  8. Create something wonderful
  9. Sometimes touting a product or service as wonderful simply requires informing your audience of all things your product can do. Improve the warranty that goes along with your service, making the purchase truly risk-free. You can also provide add-on services to make the offer enticing. Do some research and determine how to make your product or service seem desirable so people will start spending money again.

  10. Tell People that you are open for business
  11. Let people know you are open for business. By not marketing your business, you're sending a bad message to the society. Conversely, a vast majority perceives businesses that continue to advertise as being competitive or committed to doing business.

  • Print
  • Digg
  • StumbleUpon
  • del.icio.us
  • Facebook
  • Yahoo! Buzz
  • Twitter
  • Google Bookmarks
  • LinkedIn
  • PDF
  • RSS
  • email

More on Entrepreneur21.net:

Recession Proof Strategies| USGEA
Recession can be a problem for your business. It c...
Choose the Right Business Solution
Every entrepreneur kick starts his business with a...
Faster Way to Finding New Customer
For a business startup, an effective way to bring ...
10 Strong Start Up Tips
Get in touch with experienced entrepreneurs, and t...
How to Find the Right Product Source
Starting a new product line or starting up a new e...
Encouragement for New Entrepreneurs
New Entrepreneurs need support and encouragement...

Leave a comment

Disclaimer: All pages within GenMembers network are expressions of the opinions of the site operator only, and no representation of factual accuracy is being made. The content is intended to create interest in various topics for our readers, who are in turn encouraged to conduct their own independent research. This site is not related to: Entrepreneur Media, Entrepreneur Magazine, Entrepreneur of the Year, Entrepreneur's Partner, Hispanic Entrepreneur, Entrepreneur.com, Entrepreneurs.com Entrepreneur's Only, The Entrepreneur's Source, Entrepreneur's Notebook or any of the many companies that use the word entrepreneur in there trade name. Please see our website Terms of Use for further information concerning your use of the site.