Strategic Steps For Turning Your Small Business Into An Empire
Running a business, no matter how big or small it is, is challenging. Operating a business can be especially difficult when you consider that almost all major business decisions and actions must come from or through you. Considering the amount of pressure that small business owners face in order to stay afloat, it’s a wonder that they can prosper in this competitive market.
While most small business owners eventually dream of growth and expansion, quite often the knowledge and resources are not available for them to be able to do so. They find themselves so busy with the day to day grind that there is no time for planning and preparation for something bigger. What to do?
Fortunately for you, there are people who have been successful at turning mom and pop shops into Fortune 500 companies that we can learn from and emulate as we also climb the ladder to bigger and better things. Here are some strategic steps that you can take to leverage your success and build the business you’ve always wanted:
Spread The Word
People who don’t know about you can’t begin profitable business relationships with you. Through videos, podcasts, and even fliers (if you’re the old-school, traditional type), and a combination of clever marketing techniques, you’ll need to rise out of obscurity and become known. Your brand needs and deserves attention; you will need to generate awareness and build trust in your brand so that you dominate your market.
Know this, though--you will not raise brand awareness without spending some time and some money towards that aspect of your business. Set aside part of your operating budget for the development of a fantastic marketing strategy, and you’ll find that you are attracting more customers than you initially know what to do with.
Give Internal Promotions
Surround yourself with trusted employees, advisors, and friends, and while you are all starting on the ground level together, keep an eye on those who have management potential. As you are all involved in the daily operations, you will be able to promote those who have now gained experience through working with you, freeing you up to focus on big-picture items. Invest together in the growth and development in your business, and give rewards and promotions to those who demonstrate proficiency, loyalty, and expertise. As you grow, so will the passion and performance of the employees who started with you at the very beginning.
Expand “end to end”
There are two focuses to growth and expansion--marketing and sales to drive up your business volume, and the back end including operations, financials, and product delivery. If you focus on expanding one without the other, either you find yourself with a product that you can’t push because customers don’t know about you, or your supply will not meet up with demand. Either way, business is doomed if you can’t find that delicate balance between the two. Make sure that as you expand, you can keep up with your customer demand, and that you continue to generate new customers consistently. Small consistent steps in a forward direction will get you to your goals.
Hire, Train And Build Systems
With the right group of people working with and for you, it is possible to take your hands off the steering wheel and focus on developing your continuing plan of expansion. There is no greater feeling than the knowledge that you have people you can trust in key places in your organization; this peace of mind lends itself to some great opportunities for creative thinking on your part. Start brainstorming!
Having duplicatable systems in place that all employees can follow will ensure that all of the work you’ve done thus far is not in vain. Automating systems and offering follow up care of customers that is somewhat “hands-off” takes some of the busy work out of the equation, which frees up more time to focus on customer attraction and retention. Thinking about how to make the customer experience interactive and seamless from beginning to end will keep them coming back for more time and again. Taking some time to build these systems will set you up for success and allow for the expansion and growth that you desire.
Leverage, Baby
It is not easy to grow a business. Leverage is an efficient way to do so. Start making a list of tasks that need to be done--daily, weekly, monthly, and as this list takes shape, so will a job position that you’ll need to fill. If you are the cook, bottle washer, and waitress, you’ll find yourself swimming in tasks that will not allow you free time to think about expansion. Perhaps it’s time to outline a job description for a bottle washer and hire part-time to save you time. Remember, a bad hire costs you money, while a good hire saves you both time and money. Starting small when hiring out for daily operations and then working your way up to more important positions will allow you to leverage time and money and invest them both in the greater vision for your success. Choose carefully, and delegate responsibly.
Create An Interdependent Environment
Creating an atmosphere of success and invested growth that all employees can buy into will allow for exponential growth. Building a solid team of employees that are committed to finding solutions independently and refusing to focus on setbacks and challenges as roadblocks ensures that you’ll avoid being approached for every little conflict. Putting systems in place that encourage creativity and innovation will allow for some pretty incredible moments of discovery that you may not have conceptualized, as you all work together toward your shared vision and goals. Get inspired, be inspiring, and establish yourself as a guide rather than a dictator; your employees will work harder when they feel their opinions and contributions matter to the health of your organization.
Sounds Overwhelming? Doesn’t Have To Be!
At MaxGroup Business Solutions, our specialty is taking your dream and making it a reality. Regardless of the current size and scope of your business, we have the systems available to you to turn your mom and pop into a thriving empire. Our passion and dedication to each of our clients are evident in the personalized attention and customized plans that we provide you for your success. How big do you want to be? How much of it do you want to do yourself? How soon can we start working for you to make your vision possible? Contact us immediately to discover how we will best leverage your time and money and make your dreams come true. Visit www.maxgroupbusiness.com to take your business to the next level of growth and success!