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7 Tips for Growing Your Small Business

If you’re a small business owner you’re probably finding yourself constantly thinking about how to improve your sales. If not, you should probably get out of small business! No matter if you’re in the app development industry or are selling inertia mesh back chairs creating a game plan for your company is crucial in beefing up your bottom line. The following tips will assist you in growing your small business:


Crowd-source for seed money – Crowd-sourcing sites for independent funding are huge in the social media world right now. If your business is launched but you’re still looking for seed money, it might be worth pitching a campaign on IndieGoGo, Kickstarter or any of the numerous options out there.

Have scalable products – Don’t just go for cheaper or premium, offer different versions of your products for a wide variety of financial conditions. A lot of times clients may want your product or service but the price scares them away. Lure them back in with deals, demo offers, and promotions.

Bold experimental marketing – Social media’s not enough, you have to get really innovative in today’s business landscape, especially when you don’t have the money for traditional advertising on television. Create a QR code to try and drive traffic to your website, mail individualized postcards, reach out to the local community.

Shorter ads and more of them – If you do have a budget for advertising, go with the cheaper print ads and make several small ones. Having a single full page ad in the local newspaper will not be as effective as multiple small ads in well placed markets.

Cater to your existing customers – Obviously it’s good to bring in new customers but in the process you want to make sure you make your existing customers feel special. This will accomplish two things: it will retain them and it will help you to deputize them as mobile advertisements. Create incentives for them to spread the word about your business. Nothing beats old-fashioned word of mouth marketing.

Network with other business for dual promotions – You know the old platitude: if you can’t beat ‘em, join ‘em. If your competitor just can’t be outpaced, play the smaller dog and mine them for trade secrets while riding their coattails.

Manage your reputation – Check Google and see how search engines are depicting you. If you are the subject of some scandalous blogs, you need to fight back. Don’t let a bad reputation precede you, especially if it’s inaccurate!

These tips are not universal truths, but if approached creatively and passionately the issues they inform should dramatically improve your sales figures. A small business needs to think outside the box. Master these strategies and watch your company grow.

BONUS VIDEO: “4 Insider Tips to Successful Negotiations for Entrepreneurs”


Source: Everything Small Business Journal (http://s.tt/143ef)


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