Article

Neil Capstick
Neil Capstick 12 October 2016

5 Powerful Tips on How to Grow your Business

When you first started off in business you probably did a lot of research. You may have searched for help from business advisers, read information from books or magazines and of course the internet. Needless to say as a business owner, no doubt you’ve invested a lot in terms of money, time, sweat and effort to get your business off the ground. So now what?

OK you’ve survived start-up and built a successful business. Now you may be wondering how to take the next step to make your business grow and expand. There are many possibilities, however choosing the right options may well depend on the type of business you own. What are your available resources, how much money and time are you willing to invest for business expansion? These factors need to be considered when deciding on how to grow your business.

Top Tips to help your Business Grow

Growing a successful business can be quite a challenge. There are so many things to consider, discuss and debate. To help you in your business expansion here are top five tips:

Hire the right people

Before even thinking about your company’s growth trajectory you need to ensure you have professional staff who can help you achieve your goals. For small businesses, it’s important to have the right players at the table. Hire people who aren’t afraid to roll up their sleeves and get on with the job. Employ personnel who are enthusiastic, dedicated and determined to have a positive impact on your business.

Bid writing 

Hiring a reputable bid writing company is one of the best ways to grow your business. Tendering for contracts can stimulate the growth that will take your business to a new level. Recommended tender writing and bid management services companies can increase your resources. This in turn will put your business in a much better position to win more contracts.

growth-business-(1).jpg

Invest in the right technology

Investing in the right technology will give you a greater opportunity to grow your business. It’s essential to keep up to date with the latest business technological changes. Having the latest internet hardware and software in place will help you to stay one step ahead of the competition. For business growth, make plans to invest and set a budget for new internet technology.

Focus your attention on established revenue resources 

To stimulate business growth, rather than trying to acquire new clients, direct attention to the core customers you already have. This can be achieved by implementing a referral or customer loyalty programme. Why not try out different marketing strategies based on previous purchase behaviour to encourage repeat business?

Increase investment in promotion and advertising

If it’s new customers you’re after, attract them by increasing investment in promotion and advertising. Enter new markets, introduce new products or services to your marketplace and engage with customers online. This will give you an edge and help to attract more customers. How about creating partnerships with other businesses which could enable you both to flourish without over-stretching?

advertising.jpg

The potential for business growth is quite considerable although it does involve some risk and lots of commitment. When well-managed, growth can be achieved for most businesses, so take these top five tips on board and go for it.

Please login or register to add a comment.

Contribute Now!

Loving our articles? Do you have an insightful post that you want to shout about? Well, you've come to the right place! We are always looking for fresh Doughnuts to be a part of our community.

Popular Articles

See all
Digital Marketing Vs. Traditional Marketing: Which One Is Better?

Digital Marketing Vs. Traditional Marketing: Which One Is Better?

What's the difference between digital marketing and traditional marketing, and why does it matter? The answers may surprise you.

Julie Cave
Julie Cave 14 July 2016
Read more
4 Important Digital Marketing Channels You Should Know About

4 Important Digital Marketing Channels You Should Know About

It goes without saying that a company can't do without digital marketing in today's world.

Digital Doughnut Contributor
Digital Doughnut Contributor 5 November 2014
Read more
5 Off-Page Methods to Improve Your Page's Position on Google

5 Off-Page Methods to Improve Your Page's Position on Google

On-page SEO is one of the things that is on the mind of every website owner out there, and there is a good reason for that. It is one of the key factors based on which Google will rank your website, along with other factors, such as backlinks, or the quality of your content.

Joan Selby
Joan Selby 20 April 2017
Read more
How digital and direct mail became best friends

How digital and direct mail became best friends

The propaganda from digital marketeers said direct mail was dead. Now they’re retreating with their tails between their legs begging to be let back in. After all, the already powerful direct mail can have even more impact when paired with digital. But how are the digital natives returning to direct mail and why?

David Amor
David Amor 26 April 2017
Read more
5 essentials of an agile content contingency plan

5 essentials of an agile content contingency plan

Theresa May’s decision to call a snap election should be a wake up call to any organisation that isn’t able to respond to unpredictable events

Miles Kendall
Miles Kendall 24 April 2017
Read more