As a small business owner you have to wear a lot of hats. When the business needs to grow, it can feel as if you don’t have time or resources to make it happen. While the “you need money to make money” adage is still true, there are simple practices you can put in place that will help your business thrive.
Focus on Your Customers
- Provide stellar customer service and it will make a big difference. Your clients appreciate the attentive care and will remember it, and refer others to your business.
- Stay in touch with your customers through email and make special offers. They’ll be more likely to use your services more often.
- Do some research and find effective ways to get referrals from your customers. According to Inc.com, asking for referrals is not the best approach.
Get Your Small Business Name Out There
- Get your brand out into the community. Take part in community events and participate in sponsorship opportunities.
- Spend a little time marketing your business. Meet other business leaders in networking programs. These relationships can bring referrals your way and your new acquaintances might use your services.
- Promote online. Social media is a good way to hear what customers and potential customers are thinking about, what they like and what they don’t. List your business and website in pertinent directories to optimize search results.
- Establish yourself as an expert in what you do. Volunteer with community groups to give talks on relevant topics and send out periodic press releases to let the media know you’re there when they need an expert in your field.
Fine-tune Internally for Your Small Business
- Sharpen your accounts receivable practices. Bill faster by invoicing as soon as you can, instead of waiting until the end of the month to do a single comprehensive billing.
- Delegate what you can and concentrate on the things you do yourself that bring in more money.
- Reward employees for coming up with more efficient ways of doing their jobs, staying in budget and meeting timelines. Handing out bonuses costs a little but better practices behaviors can bring in more money.
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