Growing Your Business: How to Create Success
You have established your business as a worthy competitor in its field. You have a solid client base and your day-to-day operations are running seamlessly. With so much experience and success under your belt, you know it is time to look to the future and start growing your company. But how do you start? Which steps do you take? At The Skylight Group, we have some tried and true methods for growing your business to its full potential.
It’s All About Who You Know
You may be surprised to learn that growing your business doesn’t start by looking at new, potential clients. Rather, we encourage you to begin with your existing clients. Talk to the clients with whom you have a great relationship (which is ideally all of them!) and get their feedback on your business. Is there something you’re not doing they would like to see? Is there something you’re doing that they love? Find out which practices or products are working and use those strategies with new clients as well.
Another great way to work with your existing clients is to create a networking partnership. As a business owner, you have discovered that the best business is done with someone you know, instead of a faceless contact. This means you need to expand your network of professional contacts, which will in turn expand your business. Go to a client and ask them to give you five referrals to someone they think could benefit from your company’s services. In turn, give your client’s information to five of your contacts, giving both you and your client the opportunity to expand your network base.
And networking isn’t only for your clients. If you have a friend or colleague whose services you want to recommend, ask them to recommend you as well. Work together to create an atmosphere where more connections lead to better business.
Show Your Product to the World
In the current technological climate, your choices for marketing options are seemingly endless. It’s important to dedicate time and effort toward staying on top of marketing trends and methods in order to make the most out of them to grow your business.
For instance, is your company on any social media platforms? If not, it should be. You may not find a lot of use for Facebook or Twitter in your personal life, but that doesn’t mean your company won’t benefit. Social media is an easy and often low-cost way to reach millions of people at once with your message. Most platforms have tutorials and step-by-step instructions on how to get started, so don’t worry if you’re not a social media guru – you will be able to take your time and customize your social media account to reflect your company’s message and mission.
Your website is another crucial component of your marketing strategy. When a client or potential client visits your website, is your message immediately clear? Is it obvious who your target demographic is for your services or product? You want to create a website that spells out the problem you solve or the need you meet in order to reach a larger audience
As a competitor in your field, you also want to publish informational articles that your clients or potential clients can benefit from. Ultimately, you want to position yourself as the leading expert in your field, and a great way to accomplish this is to provide your clients with current and practical information that is relevant to their needs and shows that you are well-versed in various topics related to your company’s services.
Take Your Company’s Pulse
You may have been in business for six weeks or six years, but it’s always important to look for ways to improve both your practices and your product. Set a specific, regular time to review your company’s policies and strategies across the board – assess every department from Human Resources to Accounting to Information Management., Look for areas that you excel in and areas you need to modify. Try to be as objective as possible – this process only serves to benefit your business, and you will thank yourself for taking the extra time to go over each detail.
If you’re not sure how or why a product is struggling, go to your greatest resource: Your team members! Your employees have the benefit of seeing daily operations, interacting with vendors, and seeing how your service is received and utilized in your client base. They will be able to give you practical, current feedback on ways to improve your product, as well as give their unique perspective as a salesman, attorney, and many other roles. Ask yourself and your team questions about your product: Is it still relevant? Would you purchase this service for yourself? Is your product the very best version of itself, or can you improve it for your customers? The answers to these questions will serve as a guide to which areas in your review need the most attention.
Once you have completed your review, it’s time to act on it. If you see a product or service is struggling, or that it seems irrelevant to your current clients, you need to make a change. This may mean updating a product with newer technology; it may mean that you cease production of that item. Every situation will be unique, but the one constant among all of them is that you have to take action if you want your company to grow. Don’t let an irrelevant product or outdated service bring your business down.
We know you want your business to be the best – and we want to help it grow. Reach out to us at (317) 416-4369 to discover the incredible opportunities waiting for your company.
The Skylight Group
Lynn’s Tips to Business
Always remember, there is some your high school or college student that is already planning their business that could put you out of business.