BAJAN SUN
Bajan Sun Magazine
SEPT 2014
Small Business Tips- 8 tips for growing your business :
I
t’s possible to build on your success even
in challenging economic times.
The basic principles of staying focused on
delivering real customer value while
remaining true to your goals become even
more important. If your business is growing,
or you’d like it to, here are some ideas and
resources to help you.
1. Customers first.
Celebrate your customers and align any growth
plan around protecting your existing
relationships. Sustainable business growth
depends on keeping your customers happy, just
as it did when you started your business. Consider
creating customer reward programs (discounts,
extended payment terms, etc.) to ensure customer
loyalty.
2. What makes your business unique?
Being able to express your business’s core
principles and values will help you choose
appropriate growth strategies. If you haven’t done
so already, create a polished 20 second “elevator
speech” that summarizes your business’s products
and uniqueness. This summary will help you
focus branding and marketing efforts, and will
provide the core for conversations with those you
reach out to.
3. Sell solutions, not widgets.
Ramping up sales is easier when you focus on
this reality: you’re selling a result, not a thing.
Avoid “feature dumps” that emphasize the
characteristics of your product rather than how it
benefits your customer.
The most effective sales conversation begins with
questions to determine if your prospective buyer
has a need for what you’re selling. The goal is to
match your products and services to what your
prospect needs. If you can’t make a match, move
on.
4. Growth? Look out!
A challenge for many small business owners is
shifting their perspective from inside their
business—the daily details of running the
business,
to outside the business—developing a strategy for
growth, researching markets, understanding
competition and so on. Need help? Reach out for
resources. Look for ways to harness the expertise
and experience of others through networking. As
time permits, join associations and attend
meetings. It takes time, but can yield benefits
without requiring capital.
5. Marketing.
Complementing your sales efforts with marketing
is key to growth. It helps you get your message
out to more prospects, creating demand for your
products or services. It’s important to develop
your branding and incorporate it in all your
marketing. If you haven’t done so already,
determine a look and feel (type style, graphics,
color scheme, logo) and stick with it.
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