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.
Tips to grow small business
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.
Understand your Customers
It is not enough to just identify your target customer segment, it is more important to understand customer behavior, preferences and purchase patterns.
Carve your Niche
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.
- Invoicing – Apps like Moon Invoice help you manage your Invoicing, Payments and Credit Notes on the go. You can further sync the app across many devices of your team and backup data using Drop Box too.
- Planning and Project Management – Need to keep track of the status of different projects or to assign tasks to team members? Then check out sites like Bitrix24, Freedcamp, Basecamp, Orangescrum, etc.
- Time Tracking tools – Time is money and everything more in Business. Track time and bill your clients with free tools like Toggl, Paymo etc.
- CRM and Help Desk – Customer is the king and it is very important to keep them happy and satisfied. Tools like FreshDesk, Faveo, ZOHO help you in efficiently managing and supporting your customers.
- Tech Solutions – Whether it is Web designing, SEO/SEM, App Development or ERP – you don’t need to hire and set up a team. You can outsource these to suitable Tech partners to get the job done at affordable rates and faster too.
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.