When you started your business, most probably a lot of research was done, consultations from experts, business crash courses or studies were taken seriously, and all of those paid off now that your business is up and running. It is high time to step up your game and grow your business. Listed below are some ideas to help you grow your business.
-Win a Government contract
Representative Nydia Velasquez, a ranking Democratic member of the House Small Business Committee said that the best way for a small business to grow is to have the federal government as a customer. The United States government is the world’s largest buyer of goods and services in the world with approximately $235 billion total dollar procurement in 2002. There are many ways to help you determine the types of contracts available to for your advantage by working with your local SBA and SBDC offices, getting in touch with the Service Corps of Retired Executives or your local, regional or state Economic Development Agency. Lucrative and sure profit or rise in your income can be obtained by getting the government as your customer is assured, but will require you extreme patience and determination. It may look and sound impossible at first, but it is definitely worth a try for the growth of your business.
Bill Gates once said that by the end of 2002, there will be only two businesses: those with an Internet presence and those with no business at all. There is no denying of the fact that this world is now being governed by the Internet. Everything and anything is now one way or the other connected to i. A wise business owner wanting growth in his business will have to find ways in taking advantage of this technology. Websites, social media, web forums, cyber groups are readily available for your business to be known not only in your area but also globally. But since everyone is using the cyber world for their advantage, your competitors included, it is a must that you outshine them all. Everyday learn new tricks, be diverse, be different, be unique.
-Do not just take it as a work, love it
Your business should be treated not just as a source of your money, but you have to learn to love it. It not something that you should just be taking for granted because it pays the bills, or it gives you financial freedom. Love it and treat it as your child. From genuine love, you will uninhibitedly be able to give more focus and attention that is needed for growth.
You need to establish and build a good reputation for your business. Your client’s satisfaction is one of the things to always be conscious of. If you have to walk the extra mile do it, a good reputation will bring you a long way. Also, try the practice of giving the people more than they expect. Do not under promise, but you can always over deliver.
Always think ahead
You are running a business, and you should always be ready for what’s to come. There will be trials, problems, and hardships that may come every so often, and you need to be prepared. You cannot be caught off guard. Always be wary, and careful. Make sure that your the risks you are taking are calculated, to prevent a nasty fall on your part. Stay focused and always have a backup plan, you want your business to grow and thrive for many many years to come.