Harnie Gold
Member
Growing a business in the world of today, is not a task for the weak or faint hearted. Businesses and ideas require effort, resources and most importantly, information and knowledge to succeed.
In this post, there are some information that you need to take your business to the place where you have dreamed it to be. No matter how small your business is now, you can grow if you follow this simple but yet effective steps.
1) Identify new or existing opportunities
In every business, there are always new opportunities and existing opportunities that haven't been tapped into yet. To give your business an age over your competitors, you need to tap into this opportunities and the key here, is identification. Be keen on identifying areas that can positive impact your business.
2) Product diversification
Diversify your product offer to related products. For instance, introducing the sales or production of headsets, earpiece, bluetooth speakers batteries etc in a business you only produce or sell only cellphones previously, is an example of diversifying to related products. Diversification, brings about expansion.
3) Engage in marketing
In the world of today, internet marketing is on the lead and as an entrepreneur or a business owner, if you want your business to expand, you must engage in internet marketing as well as traditional marketing. The internet is the new world where you don't have to come in face-to-face contact with your current customers or prospective customers before you can sell to them. Everyday, people buy and sell on the internet and to profit from it, you must introduce internet marketing to your business.
4) Focus on building positive brand image
A brand image is what your business is known for, stand for or how your business is perceived. You cannot seperate your brand image from the product. You can have a good product but fail to penetrate your target market because of a negative brand image. Building your brand image is a task that must be achieved at all cost if you want your business or idea to succeed. Corporate and product branding are very important as the presence or absence of one will affect the other.
5) Invest in staffing
If you want to build a business that will last, you cannot build alone. The is no successful business owner or entrepreneur in the world who built alone. Invest in staffing as your skill or ideas alone, cannot take your business to where you desire it to be.
6) Do a SWOT analysis of your business
S =strength of the business
W = weakness of the business
O = opportunities available to the business
T = threats facing the business.
When you have done your SWOT analysis, you capitalize on your strength. Minimise your weaknesses. You tap into available opportunities and eliminate your threats.
7) Continuous strategic planning
There should be no end to planning in your business. Always plan. A great plan makes a great idea, great. You can turn a good idea into a great idea when planned and executed appropriately while you can flop a great idea with a bad plan. You can as well break your plans into big, medium and small plans. With these breakdown, you can prioritize and allocate time, efforts and resources accordingly.
In this post, there are some information that you need to take your business to the place where you have dreamed it to be. No matter how small your business is now, you can grow if you follow this simple but yet effective steps.
1) Identify new or existing opportunities
In every business, there are always new opportunities and existing opportunities that haven't been tapped into yet. To give your business an age over your competitors, you need to tap into this opportunities and the key here, is identification. Be keen on identifying areas that can positive impact your business.
2) Product diversification
Diversify your product offer to related products. For instance, introducing the sales or production of headsets, earpiece, bluetooth speakers batteries etc in a business you only produce or sell only cellphones previously, is an example of diversifying to related products. Diversification, brings about expansion.
3) Engage in marketing
In the world of today, internet marketing is on the lead and as an entrepreneur or a business owner, if you want your business to expand, you must engage in internet marketing as well as traditional marketing. The internet is the new world where you don't have to come in face-to-face contact with your current customers or prospective customers before you can sell to them. Everyday, people buy and sell on the internet and to profit from it, you must introduce internet marketing to your business.
4) Focus on building positive brand image
A brand image is what your business is known for, stand for or how your business is perceived. You cannot seperate your brand image from the product. You can have a good product but fail to penetrate your target market because of a negative brand image. Building your brand image is a task that must be achieved at all cost if you want your business or idea to succeed. Corporate and product branding are very important as the presence or absence of one will affect the other.
5) Invest in staffing
If you want to build a business that will last, you cannot build alone. The is no successful business owner or entrepreneur in the world who built alone. Invest in staffing as your skill or ideas alone, cannot take your business to where you desire it to be.
6) Do a SWOT analysis of your business
S =strength of the business
W = weakness of the business
O = opportunities available to the business
T = threats facing the business.
When you have done your SWOT analysis, you capitalize on your strength. Minimise your weaknesses. You tap into available opportunities and eliminate your threats.
7) Continuous strategic planning
There should be no end to planning in your business. Always plan. A great plan makes a great idea, great. You can turn a good idea into a great idea when planned and executed appropriately while you can flop a great idea with a bad plan. You can as well break your plans into big, medium and small plans. With these breakdown, you can prioritize and allocate time, efforts and resources accordingly.