Opening A Small Business
Take your business to the next level – Business Growth
Business Growth is a major concern, of course, to entrepreneurs everywhere, especially if your business is new. Here you will find some simple suggestions on what you can do to see your small business prosper.
- You have to, of course, have a good product or service, one that’s in demand, that people really want. Otherwise, even if you successfully opened your business and have incredible traffic, you’re business still may not grow much if your product is not attractive enough to people.
- One of the most important things is to get the word out! Establish a more aggressive advertising campaign, become an advertising pro!
- The thing about having a source of sustained advertising, is that it gives your business a steady stream of life-blood traffic, lots of one-time customers, and even more importantly, a high percentage of customers that are regular patrons.
- Of course, how large this patronage becomes will all depend on how good your advertising campaign and your product or service is.This website has a regular patronage of at least 90%.
- Great places to advertise are Craigslist.org and Google AdWords pay per click. Craigslist is great because, for most advertising, it’s absolutely free.
- Google AdWords can be very good, but has a cost, and if not careful, you can waste money there. Here is a BIG TIP on how to use Ad Words: always start your bidding VERY LOW.
- Read their instructions thoroughly, and research until you understand their program sufficiently. However, don’t always follow their suggestions on bidding,to bid higher, because you can lose money unnecessarily, especially as a beginner. Become an expert at keyword research and using their keyword tool.
- Re-invest profits from the business, as much as possible, back into the business. You can also acquire this “growth capital” through other means, such as a loan, but I think reinvesting is a much smarter choice, and a necessary habit to get into.
- A suggestion: Especially as a beginner, re-invest at least 50% of your net income from the business back into the business. A good place to re-invest? More advertising and marketing.
- Millions of people discover a business through a search engine on the Internet. If you started your business offline, an online presence would be of great benefit to your business’s overall exposure and business growth.
- It’s a very smart business strategy to diversify, incorporating as many other products or services as possible into your business. With time you can eliminate unprofitable products/services while adding new, profitable ones.
Brainstorm, research, study, to develop your own strategy for business growth success. The bottom line is this: no one can tell you exactly what you must do to successfully grow your particular small business.
They can help, make suggestions, and you can learn from their experience, but you must be the master builder, if your business is to reach its full potential.
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