Here are five pointers to set you on the way to successfully developing your small company.
Transitioning from a lesser experienced start-up to a budding, small-to-medium-sized business can be an exciting yet confusing process, particularly if you’re investing a lot of time scoping out the best tools and strategies to help your business flourish. You’d be right to take the time to plan and strategise, though, as many small businesses may find themselves overwhelmed by the sheer volume of resources so freely available.
To save you a little time, below are five steps which we believe will be beneficial to your growing start-up or small business.
1. There are many different ways you can capture emails, whether it be done offline (eg at a conference/networking event) or online, via incentivised subscription methods. Discovering the ‘best’ way will depend on your industry and business model, or whichever way works most efficiently in accordance with your budget. It’s all about trial and error!
2. Create a distinct brand personality, and ensure that all employees at every level of your organisation are adopting this to reinforce your brand image. You can do this by communicating your brand guidelines to all relevant parties.
Don’t know where to start with your branding? Look around online for brands that you love and then dissect why. For example, Dove is a brand valuing ethics, simplicity and pureness. It has achieved this by adopting a simplistic blue and white colour scheme throughout all their TV ads, digital campaigns and product packaging.
3. In all aspects of your small business or start-up, don’t cut corners when it comes to the quality of work you’re producing for your customer. If customers feel like you aren’t going above and beyond what they expect of you, then there’ll start to look elsewhere and this will have a big impact on both your short-term and long-term ability to grow.
4. Everyone loves a teeny price tag or a freebie! It’s the best way to reward new and returning customers, and will most likely keep them coming back for your business/services. Make sure you’re promoting your discounts and deals across all social media platforms and any onsite blogs to attract as many pairs of eyes to your business, as possible. Running a contest is also a great way to grow your email subscription list (see point 1).
An example of this tip in action: Aspinall Foundation has recently been running a campaign, reaching out to a number of authoritative journalists and online publications, inviting them to stay at Aspinall’s new Treehouse Hotel, in return for a written, published review and rating of their short stay.
5. Competitors are your best, worst enemy. Without a little competition, you’re none the wiser to things like, how much you should charge for your product or service, or what you could do better (because their customers are expressing frustration with certain elements of their business). Don’t spend too much time or energy focusing on your sideway competition, but use it wisely in order to make decisions on the direction of your own growing company.
Laying the foundations for a successful business doesn’t have to be a stressful, rushed, or an ordeal. It does, of course, require perseverance and a lot of determination, and these things don’t just happen overnight. If you’re currently operating a small, or start-up business, which tip do you think could help you reach the next growth milestone? Let us know in the comments below!
Further reading on growing a business