Growing your business takes considerable effort. It’s one of the toughest aspects for new entrepreneurs. The success of your small business depends on the time and energy you put in.
What does it mean to grow your business?
You have an idea and you have made some money from this idea. Growing your business is the practice of improving your cashflow and stabilising your revenue month-to-month. This could mean that you need to add more resources to your business so your operating costs will increase as well. The challenge is to ensure that you keep growing while adding more people and technology to increase productivity.
Why do you need to grow your business?
Business growth is probably one your goals already. The need to grow your business is tied into your dream of making a success. A growing business solves problems for the owner and for the economy. By growing your business, you can establish yourself as a key entity in alleviating the unemployment crisis in our country.
When is the right time to focus on growing your business?
The answer might seem obvious, but you need to focus on constructing proper business foundations before you can focus on growth. Are you firmly grounded in the following?
- Your business vision and mission.
- Your product or services pricing model.
- Do you understand the value that you are offering to your consumers?
- Is your business registered?
- Do you have a professional email address and website?
How do you grow your small business?
Growing a business takes time and effort. No successful business rises overnight, there’s work to be done. If you are sidehustling right now, it’s time to think of your side gig as a proper business. There’s a certain mindset you need to develop if your business is going to be successful. Be willing to learn through reading and listening. There are resources in abundance. It’s up to you what you do with it. Your knowledge will improve but you will also build your capacity to communicate more effectively.
Here are five tips for growing your small business fast:
1. Get your business online
There is no excuse not to have a digital presence these days. Thanks to a large number of affordable digital marketing channels, it’s easier than ever to get your business online. Start with a website, and grow your presence from there, to one or two social media channels. It’s an affordable and easy way to get the word out quick!
Having a website adds credibility to your business. No matter how well you do with other marketing channels, your customers will always verify your legitimacy by checking if you have a website. A website is also the most cost-effective way of tapping into your online target market.
2. Implement online marketing
Yes, it is easy to have a presence online, but with all the competition on the internet these days, it’s also important to put in the effort to stand out from the masses. This means investing your time in search engine optimisation (SEO) and paid search advertising. By using the correct keywords and putting a small investment into Google Ads, you will ensure that anyone who is looking for what you offer is able to find you quickly and easily.
The beauty of Google Ads is that you get online and get your business known on the same day. Your ads will be published immediately. Google Ads is also the platform you will use to publish display ads. Display Ads are those ads you see on popular websites. Those websites offer space for publishers like you to display your business. Using Google Ads makes the setup and management of your ads easy.
3. Find your small business network
It’s not easy running a business and you will need a good support system. Start by connecting with like-minded individuals. By joining a network, you will be able to share knowledge, advice and resources. Look online for workshops, conferences and forums where you can meet and connect with other small business owners.
FREE Workshop! Ready to network and to find out more about online marketing for your business? 1-grid is currently hosting a range of free Online Marketing Workshops in Cape Town (rest of South Africa coming soon!). Keep an eye on our social media pages for more information.
4. Get help from the pros
Often entrepreneurs come up with a core business idea, but they don’t have a clue of how to make it work. This is when it is time to call in the pros. Maybe your talents are to come up with great strategies and leading teams, but you can’t design a website. Ask a pro to do it for you! Have no idea how to start growing your social media platform? Hire a pro to assist!
5. Invest in a small team!
When you run a business, it’s very easy to get caught up in every aspect of it. It’s common for entrepreneurs to struggle with letting certain parts of the day-to-day business go. Don’t have the capacity to do it yourself? Learn how to delegate. This can free up your time to focus on growing your business. By employing others, you could also learn new and different ways of doing things from them. Remember: Successful delegation is key to the prosperous expansion of your business.
Running your own business is everything but easy. Sometimes you need a bit of advice and sometimes you need someone to help you do it. Whatever it is you need help with, there are enough resources out there! Start today.
Let’s talk about your small business.