Increase Small Business Growth With These Recommendations

The goal of any business is to grow and become successful. This is especially pertinent for small businesses. After all, these niche pursuits are usually a labor of love that requires a significant amount of work to maintain momentum. 

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Obtain Funding

When you are cash-negative but have innovative ideas that will garner more income, the way forward can seem murky, almost as if there is uncharted territory ahead. There are practical solutions to securing more funding for your business, however, and it starts by doing your due diligence to ensure you are getting what your business needs. 

The most reasonable course for many business owners is to secure small business loans as needed. It is important to note that anytime you request a loan, you need to consider these factors before signing on the digital or dotted line.

• Only request the amount of money you need, not the amount you may want. Do this through a careful review of your business proposals and plans for increasing business growth. This way, you can keep your budget tight and not overspend or overextend yourself. 
• Thoroughly assess each lender to determine their reputability. Research their history and business practices, and remember to read the customer reviews.
• Determine if the loan terms are reasonable for your business. Ask yourself if you can pay it back on the proposed terms. If not, look for another lender until you find one that is suitable.
• Always read the fine print of any document you intend to sign. This includes both paper copies and digital forms. If you review a document online but are required to sign it in person – read it twice.

Hire More Employees to Handle Growth

If your business aspirations entail increasing growth, then you need to take stock of your current employee numbers, roles, responsibilities, and capabilities. Look at their respective work hours and whether work is being completed on time or at all. Create a clear goal of what you intend to achieve with your business plans for growth, and determine whether or not your current team members can handle an increased workload by handling these questions.

• Are your current employees capable of taking on more work and responsibilities?
• Can you handle more business obligations?
• Will your leadership efforts suffer without assistance?
• Will you be turning down work and product requests due to a lack of employees?
• Can you promote some current employees into supervisory or management positions and bring on new hires to fill their respective positions?

By paying attention to your projected growth plans, you can start by adding only the number of employees and C-suite personnel you need to keep the trajectory moving upward. Settle into the growth for a while and then reassess your needs to determine if you are moving in the right direction and need more employees to fill the gaps.

Project a Positive Image

Image is everything, as they say, and it is certainly true in business. You need to project a positive image to the public because everything goes viral these days, and what the public sees is the extent of what they know about your business. Show customers, clients, and potential consumers what your company can offer them. Educate them on how your products work and how they can improve or enhance lives. Above all, you need to be an active participant in your brand and image projection.

Here are some key points to include in your marketing agenda:

• Schedule public engagement events such as local school or team sponsorships, and sign up to speak at a regional TEDx event.
• Volunteer your time as well as your employees (and pay them) to help serve in your community. Arrive with a can-do attitude and matching company t-shirts.
• Collaborate with other local small businesses to help each other elevate your exposure opportunities. Without fail, you must vet each person or company you collaborate with to confirm they have the same value set as you and your company so as to not tarnish your reputation.
• Promote your business with product giveaways, signups, and raffles. Everyone gets excited about the idea of getting something for free, so you should capitalize on that momentum.
• Maintain an updated and active social media presence for the business. Add and refresh content often to keep users engaged and your brand at the forefront of their social media feeds.
• Create an online community of people who enjoy your products. People appreciate being part of a group with like-minded individuals. It gives them a sense of comfort and belonging. Add a cult-like following of their favorite things (from your company), and let the excitement flow. 

A note: Be careful not to attempt to do good things just to get noticed. Instead, volunteer your company’s time, employees, services, and money to help raise awareness and give of yourselves with honest intentions. Not only is it the right thing to do, but the public will notice and turn away if you are anything less than honorable with those actions, such as for purely promotional purposes.

Learn from Your Mistakes

Any entrepreneur will tell you that mistakes happen, and you should learn from them to move forward. That is the same in life, of course. Nothing ever goes according to plan, so you should prepare for the worst and hope for the best. Do this while taking the best parts of your experiences and translating them into useful knowledge that you can harness to grow your business.

Since mistakes occur, what you do with the information you gain from that experience matters. Watch this video to learn how to overcome your mistakes productively. Keep in mind that while the content and presentation are simple, the information is meaningful.

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Recap: Increase Small Business Growth

Move the needle towards success with these recommendations. You did not start your company with the goal of keeping it as is. There have always been greater aspirations on the horizon. Move forward towards increased growth and greater visibility by embracing sound financial practices, enhancing your brand, showing people what you have and who you are. And then learning from your mistakes and getting back up again. If you want more support, explore working with me one on one as your business consultant.