Tips to Growing your Business
Every entrepreneur's dream is to make their business successful. They look and are inspired by the countless others who have made it in entrepreneurship, and know they too can accomplish the same.
But no one told them that entrepreneurship isn't easy. As a matter of fact, it is one of the most difficult things to undertake, and most of us make the rules up as we go.
In as much as the journey of entrepreneurship is a difficult one, there are several tips you can apply to see changes in your business, particularly a digital business. Today, I share few tips to growing your business:
- Know what you do and what you don't do.
Some of the best advice I learned early on was don't try to be all things to all people, because it typically means you are not very good at any one thing. As such, I believe that it is a mistake to take on far-reaching service offerings, develop products outside your comfort zone or expand outside of your target markets just to make a few extra bucks. When you do that, you jeopardize your true strength to focus on what you may not be successful at and create undo pressures for your team, your budgets, and your company as a whole.
- Create a must-have product
A 2014 study of the world’s fastest-growing new companies found that all of them had a “must-have” product that fostered loyal and happy customers, according to digital marketing expert Morgan Brown, who conducted the study.
Product is the foundation of growth. Without it sustainable growth is impossible.
Studies found that the most successful businesses are more innovative. They offer new products and services more often, adopt technology faster and embrace innovative practices, including improvements to operational efficiency.
- Content marketing
Use this strategy to create useful and relevant content to attract and build your audience. This allows you to get more targeted traffic from search engines without spending a fortune. You need to plan your content strategy by finding out the keywords your users may be looking for.
- Use Social Media for Traffic:
Social media platforms have highly engaged audiences. Facebook alone has 1.62 Billion daily active users, that’s around 18% of all people in the world. Twitter, Instagram, YouTube, LinkedIn, and other social media platforms also have highly engaged users.
With so many users, social media platforms bring great opportunities for business. You can start by creating your business’s social media profiles and automatically sharing your blog posts.
- Challenge yourself to always keep improving.
Technology is changing the world we live in every day. In order to stay relevant, it is important to innovate, regardless of your industry, as well as want to get better. This could mean new programs, new thinking or new processes. I believe that you are either moving forward or you are becoming obsolete. At Formula, we are constantly looking at our way of doing things and looking for ways to improve our end product, improve our client relations skills, and become more efficient at what we do, which ultimately drives greater profitability.
Until next time, I remain yours in the digital entrepreneurship journey,