How to Grow Your Business: 6 Effective Tips
Are you having a tough time getting your small business to grow?
Generally speaking, most experts suggest businesses should grow by about 2 to 3% each year. But when you’re first trying to get a small business off the ground, you should aim to have it grow even more than that. It’s not uncommon for newer businesses to grow by anywhere from 10 to 20% during their first few years.
The key to achieving this kind of success is learning how to grow your business in a variety of different ways. If you’ve been asking yourself the question, “How do you expand a business?”, there are some tips that you can put to good use to make it happen.
Here are six effective tips for those interested in growing a business.
1. Start by Making Sure You Have a Great Website Set Up
Did you know that almost 50% of small businesses don’t have websites set up? That’s right—almost 50%!
It seems like it would be nearly impossible to run a successful small business in 2020 without harnessing the power of the internet. And yet, there are still tens of millions of small businesses out there trying to do it.
If you’re one of the many small businesses still taking this approach to doing business in 2020, you should stop immediately. It’s important for you to have a great website set up.
You can spend all the time you want learning how to grow your business. But you’re not going to have much luck if you don’t have a website that you can lean on.
2. Create Social Media Accounts for Your Small Business
Setting up a website is one of the ways in which you can go about growing your business. But it shouldn’t be the only thing that you do online to help your business flourish!
You should also take things a step further by signing up for social media accounts for your small business. Depending on what kind of business you run, you should create accounts on platforms like:
- Tik Tok
- And more!
And it’s not enough in this day and age to simply create social media accounts. You need to establish your presence on them so that you’re able to connect with both your current customers and those people who could be your customers if you play your cards right.
It’s a good idea for small business owners to teach themselves everything they can about social media. It’s such an invaluable tool to the average small business owner.
3. Use Email Marketing to Your Advantage
In addition to using social media marketing to grow your business, you should also educate yourself on email marketing and use it to your advantage as well. Email has obviously turned into an excellent way for small businesses to stay in touch with their customers.
You can use email marketing to:
- Let your customers know about sales that you have coming up
- Fill your customers in on any changes happening within your company
- Invite your customers to learn more about a new product or service your business has to offer
Try to find ways to encourage your current customers to provide you with their email address. It’ll let you communicate with them easier over time and take your small business to new heights.
4. Utilize Banner Ads to Bring in More Business
Earlier, we talked at length about how important it is for small businesses to set up their own websites in 2020. But it’s also important for them to advertise their products and services on other websites when they can.
One easy way to do this is by utilizing display ads for business owners. You can have these ads appear on other websites so that you’re able to entice people to visit your website to see what your business is all about.
5. Shoot Videos to Show Off Your Business
For years, a lot of business owners showed off their businesses by shooting TV commercials for them. These commercials were a great way to showcase businesses in the best light, but they were also very expensive in most cases.
Today, your small business can shoot videos to show off your business at almost no expense to you. You can use a smartphone or tablet to shoot videos that pertain to your business and post them right on video-sharing websites like YouTube.
If you want to show your customers how a product or service works, it’s simple enough to do it by shooting a video for it. It’ll help you expand your small business in a hurry by personalizing it in a whole new way.
6. Find a Way to Calculate Your Growth and Monitor It
You know that you want to grow your business. But do you know how you’re going to calculate your growth and what you’re going to do to monitor it?
Far too often, small business owners talk about growth in very vague terms. They speak about how they want to grow but don’t have a system in place to calculate how much they’re growing.
You should figure out what growth means to you. Does it mean:
- Increasing your sales?
- Selling your products and/or services to a larger group of customers?
- Expanding into a bigger commercial space?
Growth means something a little bit different to all small business owners. Determine what growth means to you and figure out how you’re going to calculate it early on in the process.
Knowing How to Grow Your Business Could Turn It Into a Bigger Deal in No Time
Your small business probably isn’t going to experience growth overnight. You’re going to have to work hard to get it to grow gradually over time.
But as long as you follow the tips on how to grow your business listed here, you shouldn’t have any trouble getting your small business to expand. It’s all going to be a matter of making the right business moves and staying patient in your pursuit of growth.
Check out the rest of our blog for more articles on growing your business.
