Small businesses account for 99.9% of all enterprises in the United States. There are over 33 million of these small firms throughout the nation.
However, even the smallest firms can make it big; think of Facebook, Google, and YouTube. These giants all started small; Facebook in a dorm room, Google in a garage, and YouTube in a cubicle.
While business growth won’t happen overnight, there are steps to achieve it gradually. We’ve shared them in this guide, so read on.
Attract and Keep the Right Talent
Not having the right talent is like being alone in growing your business. Having the wrong people is even worse, as they may not contribute to your growth, yet you’re still paying them. Their disengagement can even cause losses through negligent mistakes.
So, attract top talent from the get-go by offering them the pay and benefits they deserve. According to a Gallup poll, this is “very important” to 64% of interviewed employees.
Flexible job schedules and locations also attract and keep top talent. Assurance that they can advance their career in your company is another. Employees also want to work for a company with excellent communication and culture.
Use Digital Marketing Platforms
The folks at Evergreenresults.com say digital marketing can drive leads and sales. Examples include digital ads, web design, email marketing, and search engine optimization (SEO).
Digital marketing can help with business growth since most people are now online. About 8 in 10 consumers even research businesses online before making purchases.
Another effective digital marketing strategy is being active on social media. You can grow your audience using platforms like Facebook, Instagram, Twitter, and YouTube. Use these to spread the good news about your business in a more person-like manner.
A survey found that 66% of respondents consider sustainability before buying. The rate is higher for Millennials, at 75%.
That makes incorporating more sustainable and eco-friendly practices vital to business growth. You risk losing existing customers and putting off potential clients if you don’t.
An easy way to become greener is to switch from plastic to biodegradable packaging. You can also use more energy-efficient products like LED lights and solar panels. Another excellent idea is to have a recycling program for paper and electronics.
Use incentives to encourage existing employees to make talent referrals. For example, you can give them a bonus for every successful new hire they refer.
You can also develop a similar program for your customers. For instance, you can give them a discount or a voucher for every successful referral. That can help you get more customers, boost sales, and improve client relationships.
Experience Business Growth With These Strategies
As an entrepreneur, your primary goal shouldn’t be to keep your firm afloat. Instead, you should aim for continuous, gradual business growth. This way, you can make more profits while also giving jobs to more people.
So, as early as today, consider following all our tips to help you expand your business.
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