Do you want to grow your business? Are you short on cash? No worries, here are eight ways to grow your business on limited funds.
1. Become a guru
Find out which forums your customers frequent and be present on them. Leave useful information and help them to reach their potential by share your knowledge and leading them back to your business’ website. By becoming a trusted advisor, they may be more keen to try out your product.
2. Focus your business
Though giving clients what they want is important, it should not be your only criteria. Ensure that the product or service you offer satisfies your client’s needs as well as has good profit margins for your company. Revise the products or services which are not beneficial to your business. Another step would be to analyse your customers and see who are worth it with regards to profit and effort and focus on them. It is important to remove the customers which are unprofitable or hard to sell to.
3. Invoice quicker
Ensure that your invoicing system runs smoothly. When you have completed a job, ensure that you invoice immediately to help make sure that there are no delays in payment. Furthermore, be certain that you capture all the payments accurately so that you don’t send out statements to clients who have already paid.
4. List your business on local directories
It is important to get your business listed on your local directories. You can do this by googling the name of your town or province and directories url. An example would be “Gauteng directories url”.
5. Finish the job quicker
Look at your process and try to figure out ways to automate or do processes quicker without losing quality. By being able to do a job quicker you may be able to add an additional job to the workflow.
6. Give a freebie
Everyone likes a freebie. You can encourage people to register for your online newsletter by offering something free. This could be an ebook on how to do something. Remember when you send the freebie to try to upsell to your customer by offering them a service you offer. This may encourage them to take advantage of your services.
7. Unbundle your offering
Though this may seem counterproductive, some clients may only be interested in one of your offerings and would not like to buy the whole package. Therefore, if you offer single items you may be able to make more sales. This could also encourage people to take advantage of your packages if they see how much it would cost to buy each offering separately. Your client may also like to combine different offerings then what you already have packaged.
8. Highlight your offerings and promotions
Ensure that when you send out a newsletter, email or invoice, you use banners to highlight your promotions or offerings. By letting your customers know what you have on offer or the specials you running for the month you can encourage them to spend more with you.
By following some of the low-cost ways you could be well on your way to expanding your business.
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