If you are the founder of a small coatings company, growing your business is forever in your thoughts. How do you seek to attract a bigger network, and ultimately sign more contracts for your services? Here are 10 effective tips for growing your business.
1. Get Ideas From Everywhere
How do you go about getting ideas about your business? Is it solely from your own mind or do you have a business partner to bounce ideas off? Whatever it is that you currently do, understand that there are no limits at all to where inspiration can come from, and the more people you speak to and network with, the more ideas you can potentially find.
Ideas can be spread across industries, too, so don’t limit yourself to only those within your niche. Continuously scan the net, read where possible, and don’t forget to record anything that comes to mind. Even if it means getting up in the middle of the night to jot something down that came across in a dream, don’t neglect it.
2. Check out Your Competition
You do need to know what your competitors are doing, but this is an immensely fine line. The last thing you want to do is get obsessed, so make sure you balance objective investigations against a stalker-like paranoia.
“Use sites like Owler to check out competitor analysis, including where they target their marketing efforts, and of course watch out for product innovations. But remember to concentrate mainly on you and your activities,” advised Tom Curry, a marketer at Writemyx and Nextcoursework.
3. Make It All About the Customer
This is an easy ethos to suggest you have, but do you really put the customer first in all activities? Are your marketing efforts directed towards your customer? Are your contact methods based on ease for the customer or ease for yourself? Can you make the price more competitive? This are all considerations that you need to be truly honest about if you are to really walk the walk and not just talk the talk.
4. Be Creative
Thinking outside the box is a winning formula. Be innovative where you can and don’t be afraid to try new things. In fact, when you are commencing on a new journey, think about how you can communicate that to your audience at the same time. Try new marketing methods, and put yourself in to the occasionally bizarre situation. And don’t take yourself too seriously, either.
Face up to the facts: Growing a small business is an incredibly time-consuming and energy-sapping task. It will not always be that way, but those initial years are intense. Accept it, embrace it, and you will reap the rewards.
Another issue in the early days of your business is that you will spend a disproportionate amount of your time dedicated to tasks that do not really add any value to the company and definitely do not “bring home the bacon.” Keep in mind what your essential activities are, and commit as much time as possible to those tasks. Prioritizing is always key, and delegate where at all possible.
7. Stay True to Your Message
You probably commenced on this adventure with a clear message or ethos that you wanted to promote. Are you consistently selling that message? Consistency is key here, as that is what customers appreciate. Never diverge from what makes your coatings company unique.
8. Understand the Risks and Rewards (and Be Brave)
Risk-taking is an inherent part of operating a small business. If you were not a risk taker to some degree, you would not have embarked on this adventure in the first place. So analyze risks, always keeping in mind the potential rewards. Do not be overly risky, but don’t be averse to taking the plunge from time to time either. “As long as everything is done with the proper analysis and preparation, risk-taking is actually a fundamental tool for growing a successful business,” stated Tracey Dallas, a project manager at Britstudent and Australia2write.
9. Stay on Top of Finances
You need to know where your money is coming from and going to at all times. Poor financial management is so often the cause of failure for small businesses. Plan wisely, and try to stay as true to that plan as is possible. Of course, some deviation is always necessary, but keep detailed records of everything and you will be able to stay ahead of the curve.
Do you really believe that your company will be successful? Do you really believe in the product or service you are selling? Do you believe in the ability of yourself and others who work with you? If the answer is “no” to all of these questions, then perhaps now is the time to reconsider a few key items. But if the answer is “yes,” then growing your business is a realistic objective.
About the Author:
Katrina Hatchett is a lifestyle blogger at Academic Brits with a particular interest in the art of communication. She is a regular writing contributor at Origin Writings, as well as a blogger at PhDKingdom. For more information, contact: Katrina Hatchett, firstname.lastname@example.org