The start of a new year is a great time to set new goals for your business and jumpstart its growth. Spend a few hours each week executing and following up on these steps so you can deliver exciting growth for your business.
Know your business goals
Ask yourself where you want the business to go and how you can achieve those milestones this year. Communicate those goals to your staff so that everyone’s on the same page. Keep them specific, measurable and realistic and have a reasonable timeframe for each one. If necessary, break them into smaller goals with tasks and responsibilities for each team or department. Every employee should know how his duties fit into the bigger picture.
Identify your ideal target customers
Think about who your ten best customers are and what you need to do to attract ten more identical customers. Survey those customers to find out why they choose to do business with you. Those are the things you’re doing right! Keep doing those things and brag about them on social media or in your marketing.
Identify what the business is selling
Know not only what you’re selling, but also what your customers are really buying. It might be more than just your product. It might be the customer service you provide, your speedy responses, or convenience. Figure out what your reputation is and how you can use that to get a unique advantage over your competition.
Look at the competition
Use your competition as a guide to see where your company is excelling and what you can do better. How does your customer base, products, and services compare to those of your competition? Identify what you can do to make those factors better than the other guy and do it.
Make the necessary investments
You need to invest both time and money to match and beat your competition. Consider investing money into a new marketing strategy—both to your current customers and to talented job applicants. Consider bringing on temporary staff with the intent of permanent hires after. If you decide to invest in new, automated technology, make sure your team is staffed with people knowledgeable and experienced in that technology—or at least willing to diligently figure it out!
Wake up your old business
Your past clients who haven’t bought from you in a while might be the quickest path to added revenue. You’ve earned their trust before, so just remind them of a service you offer or tell them about a new product you sell. And don’t forget to get those clients to advocate for you. Ask them to refer a friend or share a testimonial, so people who trust them will start turning to you.
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