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Growing Your Small Business

 

January 24, 2018 (Investorideas.com Newswire) If you own a small business, it's likely one of the main things you think about. A great deal of your passion, time, and care is poured into this entrepreneurial adventure, and it's important to you to see your business grow. While it's an uphill climb, filled with unexpected problems and thousands of details, it's a wonderful way to get the most out of life, by testing yourself and achieving more. If your goal is to succeed, then your goal is likely also to grow, so take a few tips from this article on how to grow your small business.

Expansion

There are essentially two ways to grow your business, and those are marketing or expansion. In this case, expansion refers to extending your business reach or adding to your business inventory. The more products you offer, the more likely you'll be found. There are plenty of ways to expand your inventory. If, for instance, you're an online retailer, it's easier than ever to buy wholesale pallets online and expand your stock. You should also be growing the types of products you offer. It's often important to stay in a specific category, (i.e., lighting or craft supplies) but offer as many products as possible within that category. If you're online, that will bring more potential buyers to your site. If you're in a physical store, you're more likely to meet a customer's needs, make them happy, and see them again another time.

Marketing

There are many ways to grow a small business through marketing. Getting to know your customers and offering great customer service are two of the first steps in creating returning customers and getting customer-based recommendations. Once you've got happy customers, you can send out promotional material to encourage them to come back in. Emails, social media posts, and even physical mailings are a great way to get customers to remember you. Try to be clever and memorable--like sending out a mailing with sass or extra color, either by coming up with a great slogan or buying custom stickers online. You can also host events or attend networking events. Last but not least, keep a spreadsheet of what's working and what's not. Depending on the business, one marketing strategy will be a lot more useful than another. Keep track of what's working for you and your customers.

Growing a small business takes strategy and energy. 80% of businesses fail within the first 18 months, and making sure you stay alive beyond that mark will take effort and ingenuity. Making sure you lend your energy to worthwhile schemes and your advertising money to profitable campaigns is only part of the process of succeeding as a small business. You're essentially creating your own world, an independent system, that will carry itself through difficult times. Best of luck as you scheme and succeed as a small business.

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