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How to grow your small business

3rd Aug '17 • By Ellis Garwood

Small businesses have the highest potential for growth. There are a few aspects of the business that need to be kept in check and in order to leverage maximum growth in your small business.

Develop your USP
 

Your unique selling proposition is what differentiates your product from its competitors. A successful USP promises a clearly articulated benefit to consumers, offers them something that competitive products can’t or don’t offer, and has enough benefits to attract new customers. A strong USP doesn't have to be a tangible product - having strong processes, policies and management procedures can also define your unique selling point. Furthermore understanding  your customer's needs and developing products and services that meet those needs will gain insight into your customers by personalising your services which will urge them to provide you with feedback. All these factors combined contribute towards establishing your businesses brand name and will result in a successful USP.

Grow your usp

Create a lead generating campaign
 

Social media and technology is the main avenue in which a customer will discover a business, so if you’re not effectively in the palm of somebody's hand then some people would say you are falling behind! Social media can help you to build your business profile and attract new customers. Some small businesses require searching for their new customers instead of them coming to you. You need to Invest time to build your networks – it’s not what you know but who you know. This will allow your company to build relationships with other people and encourage them to refer customers to you through word of mouth. 

Create a lead generating campaign

Spend time with sales
 

Running a small business means that you need to always be ahead of the game. Sales is an important area that needs to be constantly monitored as it is the life and blood of your business. Management should be centered around sales to maximise profits. Coming up with a good strategy for sales is always a good idea and will almost definitely impact the bottom line. Hiring competent people to handle the core of your business is an important task. Setting up a strong sales team defines the future of cash inflows for your business so you need to spend a lot of time with sales in order for your business to grow!

Small business idea

Customer Service
 

Customer service in a small business needs to be impeccable! You need to be able to overcome problems that may arise and deal with them effectively in order to withhold your existing customer base and exceed the customer expectations, this will also prevent damage to your brand name that your business holds. Additionally If you cannot provide your customers with great after-sales service or general customer service then you will not be able to build loyal customers. Customers are the most valuable asset of a business, happy customers fuel growth and the more people you satisfy, the more likely it is that your business will thrive. If everyone is selling the same thing then you need to go beyond the product and sales and work on providing your customers with an experience they would not want to forget. 

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