4 Tips to Boost Earnings in your Small Business
Whether you're running an established Small Business or in the midst of your start-up journey, all Business Owners have a focus on growing their business.
The growth of Small Businesses is great for local economies, with many preferring to shop / work with boutique-style businesses and brands.
Below are 4 tips to boost earnings in your Small Business:
1. Trust & credibility
While we are fully aware of digital content, digital advertising & email marketing; it's important not to overlook the fact that consumers are 90% more likely to trust a brand recommended by a friend.
How can you tap into local partnerships and collaborations to build engagement and bring results?
Find opportunities to connect with new clients & customers. Your past sales & enquiries will help lead you to the source. The focus then becomes building creative solutions to bring in further growth via an untapped opportunity.
Would a pop-up experience, activation, seminar or amplified intro offer work for you?
2. Quickly determine what works
When it comes to business growth, playing it too safe can stall progress. My philosophy is to take calculated risks.
As you launch new services or products, expand your Sales & Marketing strategies, and identify your KPI's ~ there must be a measure of success.
This will help to decide quickly whether your approach needs to be refined or abandoned depending on the outcome.
We are creatures of habit. It's not unusual to stick to Business As Usual Marketing Strategies. They are quick, easy and what you know best.
It's also important to dedicate time towards learning new technologies, Marketing techniques and implementing streamlined processes to help save time, reduce operating costs & increase exposure.
4. Find a mentor
Beyond networking with other Business Owners, find a mentor who can assist in navigating the ups and downs that come with owning and evolving a business.
Choosing someone with experience in a variety of skills, knowledge and connections beyond your own will allow you to become upskilled quickly and will often save time & money along the way. It's also incredibly important that you're comfortable with your mentor too!
Whether you ask someone you admire, or work with a Business Coach - you'll be stretched to new levels, keeping you inspired and motivated to do your best.