The challenge in growing your business is to keep a step ahead of changing market conditions and other important variables such as innovative technologies and the evolution of customer needs. How individual companies react to future conditions often depends on which stage in the business life cycle they are in. Business owners might be interested in expanding their business but would not know what the next step is. It does not make sense to try to venture into exports right away for example; you would first need to consolidate your operations and bring them up to scratch to meet foreign market standards. Here are a few tips on the first steps on how to grow a small business:
- Use Internet and email – today these are the most economic, far reaching and fastest media communications method available. Remember to be professional in your communications.
- Market you business at every opportunity by giving potential customers something to remember your business by. Even a business card will do the trick.
- Keep up to date with industry trends so you can be among the first to know of new technologies that can be used to improve your products.
- You might want to invest in a website. It gives potential customers the freedom to check out your product or service before visiting your outlet. A website should be informative first and fancy after.
- Use social media such as Facebook or Twitter for marketing. Besides being the latest trend and an interactive way to reach out to customers, it is also very cost-effective.
- Invest in good market research before planning a new product or service to avoid wasting money on a non-starter.
- Improve your public relations by sponsoring events and activities that will help build your profile and integrity.
This section will give you tips and guidance on venturing into the different phases of growth, innovation and eventually exports.