1. Test Your Business Idea
It starts with validating whether your business has a chance to be successful. By that I mean, is there a market for it. Are there potential customers who will pay for what you have to offer? So how to do find out this information? Undertake market research – start by doing an environmental scan – check out the state of the industry you are looking at, is it growing, are there trends to consider, really get a good look at what is happening. Next research your competitors – there is so much you can learn about your competitors today and any gaps in the services or products that are delivered. Finally, find some potential customers who can help you uncover the gold of what they need. There is no better source of information than a potential client
2. Get Organized
Plan out your systems & platforms you are going to use to keep yourself organized. What will you use for task management, client correspondence, email, administration, marketing, sales and operations? There are tools that you can use like Trello, Asana, ClickUp, Slack etc as can a simple spreadsheet.
3. Robust Record keeping
Records of any and I mean ANY business transactions will protect you in the long run.Start your business as you mean to go on. Start the right way from the beginning. Even if it is using free software platforms, start using them so that as your business grows you already have your processes in place and therefore it is easier to scale the business. These records can be paper and online. I’d recommend at least 1 or both of these that are backed up so you don’t need to worry about losing any data.
4. Be Entrepreneurial
Entrepreneurs always look for ways to improve themselves and their business. Be open to new ideas, creative problem solving and other ways of doing things. Speak to your customers regularly and gather feedback on how they are experiencing your company and the service they are purchasing.
5. Stay Focused & Consistent
Most businesses don’t immediately start making money. The key here is to stay focused and consistent in the actions that will help you to achieve the goals you had set out for your business. Now of course, you can’t run on red indefinitely – so if this is a challenge, it’s likely time to see if there are issues with the offering or with pricing, marketing, the market etc. A business coach can help you uncover some blind spots here.
6. Be doggedly determined
Starting a business is hard work and when you open your doors the work is just beginning. The buck stops with you, you are responsible and as the owner, will be wearing many hats. You will need to likely work longer hours than most will to achieve what most won’t! Being passionate about what you do will give you the fuel and the fire to keep going and to keep serving your customers.
7. Provide Great Service
Really thing about how you can delight your customers and go above and beyond. Great service is often the bare minimum you need to be in business. Not everyone goes above and beyond – it’s never crowded in that space. If you can delight your customers they will be coming back frequently and also tell everyone they know about you.
What Are Some Of The Fastest Ways For A Business To Grow?
Focus on a small product line
Focus on a niche market
Scale up your business
Increase your sales channels
Would you like to grow your business? Connect with me to schedule a call!