It is possible that if you are reading this article, you have already taken the risk of creating a company and you understand the need to know how to grow your business. (If you haven’t started, here you can learn about 15 motivations that will help you make the decision to achieve your financial freedom)
Once you take the leap into entrepreneurship, you will encounter a series of obstacles that will prevent you from understanding how to grow your business.
Not in vain 9 out of 10 companies fail. Fortunately, we are always able to overcome barriers.
How to grow your business.
For Siimon Reynolds, entrepreneur and author, the solution lies in focusing our efforts on 4 fundamental areas:
1. Get more money from each client.
It is not about raising your prices for the sake of raising them (you will see more of this in step #2). It is about re-using the clients you already have.
It is much easier for a person who is already your client to give you more money; than convincing a stranger to do it.
You can spend a very small part of the day thinking about strategies to sell products or services to your customers again.
A well-known and fully proven one is email marketing.
2. Offer more expensive options.
Contrary to what many would think, a large number of your customers would be willing to pay more for your products; all you have to do is give them a reason to do it.
If you don’t believe me, just think about cars. Comes the normal version and the full team version. Both alternatives comply with transporting their customers, which is ultimately the reason why they buy them; but electric windows and air conditioning can increase the price considerably.
Think about what you can add to your products or services to create “premium” versions and give your customers a status of excellence.
3. Have a learning schedule.
As I told you before, creating a business you will find obstacles and make many mistakes that will prevent you from knowing how to grow your business. And one of the most useful strategies is to prepare so that those obstacles become opportunities.
It’s clear, experience is one of the best teachers, but don’t wait until you hit the wall to see that it’s there.
Siimon Reynolds recommends some learning areas that you could focus on: Digital marketing, sales techniques, knowledge of your industry, leadership, among others.
Which one do you need to know more about to know how to grow your business?
4. Use time correctly.
This strategy is not simply related to being absolutely committed to the delivery times of your products and services; It is also related to your commitment to your times for everything.
In one word: Productivity.
Understanding how to make better use of your time is a key pillar in building a business.
How well do you use your time? How could you optimize it?
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
