We all have heard the story about businesses who open one year and by the next year they are no where to be seen. I have spoken to countless business owners who say that they are hardly getting by but when you look at the broader picture, you realize that these men and women don’t do anything new to bring in the customers they need.
To grow a business you always need to be adjusting your plan on a yearly or even on a monthly basis to achieve your desired outcome. So do you want to know more about what successful business owners are currently doing?
1. Don’t let outside factors influence your business.
The only factor which should influence your business is how your clients. Don’t worry about the state of the economy and how it affects your business. Once you have a product or provide a service which is essential to the general public, you will always have customers regardless of the state of the economy.
2. Reinvent business products / services
If the last time you adjusted your product or service was in the year of dark ages its time for a change! People change and so too should your products and servcies. Always try to reinvent your products or services as the need arises. Approximately every five years there will be a trend. Look for it and follow it
3. Do your research
Many business owners think that they need to hire expensive marketing firms to conduct research on their customers. That is an incorrect notion. You can inform your staff members to ask your clients as they shop simple questions before they leave or during their shopping experience. The information collected will be vital in deciding if there will be a wind of change coming up.
4. Technology is your business’s BEST friend
Websites, Phones and computers are your business’s best friends. They help your business push forward in the world today. Websites help bridge the gap between long distance communication. No longer are there different countries. Its now known as one world. The online world.
5. Build your relationships
Lets face it. Successful businesses are that way because they build their relationships. They take the time to collect information about their clients such as name, age, email address, physical address etc. This helps them gather information and analyze that data to be in a better position to customize their products or services to suit each client. Always remember the money is where they relationship is.
6. Value trumps Cost
Would you buy from someone who offers the lowest price only? No. So why try to sell your customers that? Your customers seek out value for their money always. Before you send out that email about cost, think to yourself if you would buy that offer just because of the price or will you look for the value in the product or service.
7. Outsourcing isn’t a bad idea
If you run a small time business in a small time area sometimes doing it all your self is not a good plan because you tend to have dissatisfied clients when you can’t live up to your promises. You always have to remember that a client’s time is valuable to them. More valuable than you doing your business at your time. You need to be able to decipher if you should consider outsourcing certain projects to different companies and focus on what you do best.