Are you at the point and time where you feel like your small business is just kind of puttering along?
If so, what do you plan on doing about it?
In the event you’re in this situation, there are options out there for you, though you can’t sit around waiting to act upon them.
For starters, get to the bottom of why it is you sense your business is stuck in a rut at the present time.
Is it because of the overall economy, consumers having many more options than just your business with which to work with, perhaps even steps you are not taking to increase sales traffic?
Understanding why your small business isn’t moving along at the pace you would like it to is not always easy, but it is something you have to figure out.
That said are you prepared to try different ways to grow your business today?
Be a Pro-Active Business Owner
In moving your small business forward, keep the following three tips in mind:
- Is now the time to grow?
One of the most challenging questions you can find yourself having to answer is just when is the right time to grow your small business?
While the answer to that question will oftentimes vary from business to business, you can typically see some emerging trends, trends which can help you on whether or not to grow now or down the road.
First and foremost, look to see what the “experts” are saying about the overall economy. Although things can of course change, having an idea of what may very well be on the horizon certainly can assist you.
Another item to keep in mind is your current financial situation.
If you’ve been bleeding money as of late, you would be well cautioned to not pull the trigger on growth right now, be it expanding your workplace etc.
On the flip side, you might look back with angst one day, knowing that now was in fact to gamble and grow your business. If that occurs, will it most likely be that lack of money that holds you back?
Take note that getting cash when your business needs it is not as hard as you might think it to be.
There are companies out there specifically able to help you get the money you need and when you need it.
That said be sure to research each and every one of them, making sure you not only get the best financial deal possible, but also customer service that meets all of your needs.
- Will you need to hire more staff?
Unless you run a one-person small business, you know all too well how important you employees are to the success (or in some cases lack thereof) with your business.
Be sure to wage the pros and cons of bringing on more employees at this time or the very near future.
With new employees of course comes the need of more money, paying benefits (unless they are part-time), and having more individuals to account for.
On the other side of the coin, new staff can assist you in meeting the demands of customers (both current and potential), especially if you foresee an upward tick in more consumers doing business with you.
Finally, more help for your team can assist you in putting out a business model that is second to none.
Remember, the better your brand looks to consumers, the more likely they are to in turn open up their wallets and purses (see more below).
Give Consumers a Reason to Keep Coming Back
- Customer incentives oftentimes work
If you are going to grow your small business, you certainly can’t do it with lackadaisical customer numbers.
You are going to not only need your current customers to keep coming back for more, but you also will require an entirely new batch of customers moving forward.
That said there are various ways to go about adding to the customer rolls, with some working better than others.
Typically, offering customers incentives to keep shopping with you means things such as loyalty reward programs, providing exclusive sales offering before the general public has access to them etc.
Lastly, make sure your customer service approach is always at its highest levels.
Even one bad experience can send a customer fleeing to a competitor, leaving you with the task of now replacing that intended revenue.
Growing your small business can of course prove challenging, but do you ultimately have any other choice at the end of the day?
Photo credit: Ken Teegardin on Flickr. CC-BY-SA 2.0