Business owners know they can’t rest on their laurels and expect to remain competitive – or even viable. They need to continually look for new ways to grow and expand. But many business owners struggle with the growth process, overthinking their strategies and becoming frustrated or overwhelmed. The good news: Business growth doesn’t have to be complicated – in fact, it shouldn’t be! Here are five simple steps to help you take your business to the next level:
- Know your customer. Consider developing customer personas, using surveys or conducting other research to make sure you really understand your customer base. Put yourself in your customer’s place to “see” every step of their journey, from discovering your business all the way through the sales process and follow-up to view your business through their eyes, then make a list of improvements to increase your ROI
- Create marketing campaigns designed to engage and delight – and based on the customer’s needs and wants. Many businesses make the mistake of creating marketing campaigns designed solely or primarily on their own desire to sell rather than on what motivates their customers to buy. Look for customer pain points and position your product or service as a solution to those problems. Consider using video as a marketing tool, as well.
- Learn to delegate. As a business owner, you can’t be everywhere at once, nor can you always do everything that needs to be done. Delegating tasks to trusted employees or by outsourcing them to other agencies helps you focus more on other opportunities that can enable you to grow your business and your bottom line.
- Always be innovating. Successful businesses know they need to create new products or services (or improve existing ones) to stay fresh in their customers’ minds. Think of ways to reinvent your offerings, even if it’s just through a discount, coupon or other incentive, or consider offering ancillary products or services.
- Look for new marketplaces. In addition to creating new products or services, being innovative also means looking at that product or service in new ways to determine where else it might be of value. Try a new ad or social media campaign and track the results. In addition to discovering new customers, you might also develop new ideas to repackage or “retool” your product to draw wider attention.
Growing a business is in itself a full-time endeavor. Taking it step by step – and following a clear plan – is the best way to tackle the process without becoming overwhelmed.