The biggest challenge these entrepreneurs face is how to translate their dreams to reality. While it is possible for to grow a business from one level to another, truth be told, there is a lot of work involved. And one needs to be lucky as well. The good thing about luck is that it comes to only those who work for it.
If you have a small business, or intend to start one in the future, here are six invaluable ways of making it big. Remember, it may take time before you realize your goals. One should not worry about that because just as long as they are working hard to achieve their goals, they are on the right track.
- Be ready for the hard work : There is no magic wand to wave over your business and make it grow. You have to roll your sleeves and work for every little success you may want. You should also not be fooled by the get rich quick tips and expect to be a millionaire in a few weeks. Hard work, hard work, hard work - I wish I could give you another way out!
- Know your market: One reason many small businesses are not making it to the top is that the owners have not fully familiarized themselves with the needs of the market. If you want to small business to grow, you will have to identify your market and speak its language. You should do surveys on what your customers want and also why some of them prefer your competition.
- Get new customers through referrals: Customer retention is a good thing to stay in business. At least you have regular customers to sell your services or products to. If you however want more than being in business, you will have to get new customers. How about asking for referrals from your existing customers for a start? If you provide them with good products and services, they would be excited to share the message.
- Diversify your products and services: No, I am not asking you to be a jack of all trades (forgive the cliche). It is however unwise to stock only a few products or offer a few services.Ensure that you increase the number of services or products that you have. Let your customers find almost everything they need at your shop! If you are selling fresh milk for instance, how about selling confectioneries as well?
- Always deliver on your promises: Doing business is like being in love, you have to show that you are committed and very interested in the relationship from time to time. If you make promises to customers regarding services or products, ensure you honor those promises. This will help build your reputation as a trustworthy person. And nothing sells more than trust!
- Never give up! I have already told you that growing a small business is no easy work. Entrepreneurs must work very hard to achieve it. Along the way, it will be tough, very tough, and as a business person you will have more reasons to let go than to hold on to a hope that is fading fast! Should this be the path for you, remember that you have spent so much time and resources on the business, all you need might be a different approach!
As always, I hope this helps. Let me know!
- sirkarani@gmail.com -
Nice article. For me, suggestion number 5 (delivering on the promises you make to customers) is the most compelling.
ReplyDeleteThinking like a consumer, I always appreciate a supplier who makes an effort to keep his or her word. It gives me a sense of comfort and, ultimately, a feeling of trust.
Besides trust, I value quality a whole lot. No matter how nice a vendor is, if his product or service is not top notch, chances are that I will not do business with that vendor.
Am glad you liked the piece. Yes, trust is an important thing..in everything! When business people fail to keep their word, chances are no customer of theirs (unless they have no alternative) will stick around...
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