Last Updated: 01 Feb 2017 | 5 min read
Bitten by the entrepreneurial bug, you have taken the plunge into starting your own business. You have Mobile app development and a few other Small business ideas chalked in your growth plan.
But you don’t have the scope and budget to hire experts or consultants to accomplish this. Worry not, these insights and hacks will help you grow your small business fast.
Try to identify your core competence area and focus on just one or two of your strengths, instead of getting into many areas and spreading your efforts thin. A focused approach helps you to run your business with a lot of clarity.
It is not enough to just identify your target customer segment, it is more important to understand customer behavior, preferences and purchase patterns.
Create your own USP and niche, and try to stand out from your competitors to gain customers interest.
Identify the right pricing strategy suitable for your segment. Create plans for Branding, Advertising, and Marketing and ensure that they all work together in synergy in adding value to your business.
It may not be feasible and sensible for the owner of an SME to handle all the roles in a growing company. Hire the right guys to do the right job for you, else outsource or automate wherever possible. Eg. – Helpdesk, Payroll, Legal, etc.
Tech tools can be a godsend for SME Business owners. Nowadays there are a plethora of free and premium tools that can make the everyday running of your business more organized and simple.
When it comes to growing your small business, it makes sense to think and work smarter than to work harder. Talk to your mentors or industry influencers, hire help, outsource, use free tools wherever possible – not only all these will help you cut costs, in the long run, it will also help you to expand your business to the next higher level.