Five Steps to Greater Business Growth

By Nancy Nehlsen - Owner 4.7.10

Successful companies never get complacent when it comes to increasing business. In good times and in bad, business development must be an ongoing priority. Here is a five-point plan to help your business to grow without a huge investment of time or money.

1. Network

Business won't just fall in your lap. You have to get out there and search for it. That means talking to other people in your industry, as well as potential customers. Join your industry’s association, your Chamber of Commerce, and any service organizations that interest you. Volunteer for committees. While you're rubbing elbows with your new colleagues, tell them about your business. Every new contact is a potential business opportunity.

2. Make Every Employee a Salesperson

No, you don't want to send the office manager out to make cold calls. But every employee should be involved in your company’s growth strategy. Have meetings and talk with staff about your business. Ask them to think of any leads they might have and reward them if their leads pan out. Arm your staff with brochures and small useful giveaways, if your budget allows. A small LED flashlight or flash drive with your name on it can pay off when prospects feel a sense of indebtedness for the gift.

3. Explore New Opportunities

If the niche market you've been enjoying over the years starts to dry up, look at other industries and/or demographics. Now is time to consider diversifying

Pay attention to which industries are staying vital and don't be married to your current specialty. You can diversify your company by adding new technologies, services, or products that will attract a different clientele

4. Don't Cut Out Marketing to Save Money

You may ask: Why market in good times when I have plenty of business? Why market in bad times when there isn't any business to get?

The fact is, successful businesses market during both good and bad times. During good times, you must advertise to take advantage of existing growth potential. During bad times, you must advertise to maintain what you have and build a reputation that lasts when bad times are over

Look at augmenting your current marketing efforts with inexpensive techniques, like email newsletters, news releases, or simple postcard mailings that drive recipients to your website. Prospective customers need to know you are eager to do business with them.

5. Stay Optimistic

As trite as it may sound, the single most important strategy to growing your business is a positive attitude. When we allow ourselves to concentrate on the negative messages surrounding us in the business world, we lose our creativity. We need all of our energy to think outside the box, to develop new success strategies and to keep employees productive.

The companies that not only survive, but actually thrive are led by people who refuse to cave in to negative feelings. There are always opportunities to be found out there. Make sure you are the one finding them!