Starting a business is relatively easy. All you need to have is an idea and a little bit of money. The registration process is easy and after that, hiring can start. You might decide to hire locally or remotely (if you are for remote hiring, check out these 5 reasons why you should hire job seekers from Eastern Europe!), but do you really know all those essential things when it comes to successful growth?
It’s perfectly fine if you are new in the entrepreneur world and if you read even a little bit about it, you are well aware that you have many ups and downs coming your way.
Here at JobRack, we are dedicated to helping entrepreneurs, business owners and influencers learn, scale up their business and have a minimum number of “downs”.
We believe in upgrading the knowledge and therefore we decided to share these 10 things every business should do!
10 Business things for successful growth
It doesn’t matter if you are a company or individual, these tips are great for every type of business.
If you are already doing these, that’s awesome! If not, make sure you think about it!
1. Run A Customer-Centered Business
This is something many entrepreneurs and business owners often forget. Their mindset is all about “How can I/we earn more money?”
Your focus should always be on your customers. Not on you, nor both of you – just your customer. Your business depends on your customers, and if you work hard to improve their satisfaction and experience that will result in more sales.
Just shift your mindset and start thinking like this:
- “How does this help our customer?”
- “What can we do to help our customers even more?”
- “How does this make it easier and more effective for them?”
Answers on these questions will bring you more ideas and complete insight into what you need to do next.
Listen to your customers and clients, make surveys and collect their feedback, do whatever you need to do to deliver them the best solution for their problem.
That way you will also get an answer to the question you had on your mind at first place: “How can I/we earn more money?”
We already talked about how to outsource for maximum growth where we presented the complete outsource model.
Outsourcing is something huge companies are doing for years now, and now, thanks to the internet and technology, it’s available to everyone.
Two biggest benefits outsourcing gives you are the ones that are the most valuable ones: time and money.
You will save time by hiring someone to do certain parts of work for you, and you will save time by hiring someone like that from countries that are not very economically strong.
Don’t be tricked by the bad economy of some countries. Serbia, Romania, and Bulgaria may have a bad economy, but they are full of highly educated professionals that work in various fields of IT like developers, designers, content writers, VAs, etc.
If you are looking to save money and time, but at the same time to scale up your business, you should definitely consider outsourcing.
3. Improve Customer service
We cannot emphasize this enough…
Customer service is one of the most important parts of every business, if not THE most important!
By having rocking customer support you will ensure:
- trust between you and your customer. This will also result in better conversion rates for your future projects!
- build brand awareness. It’s important that people remember your name because word of mouth is the most powerful ally you have on your side.
- fewer problems with customers. If customers know that they can voice complaints and those issues will be handled properly, they will feel more comfortable doing business with you.
Did you know that after one negative experience, 51% of customers will never do business with that company again?
Knowing that having not just good, but incredible customer support is a no-brainer.
Make sure you educate your employees and yourself about how important customer support is, and once you hire customer support, let them be aware that they are the heart and soul of the company!
4. Be An Innovator
“There is no point in going into a business unless you can make a radical difference in other people’s lives” – Sir Richard Branson
Being an entrepreneur, starting a company, running a business, that’s not all about making the money. Sure, money is great, but once you earn enough money you will see that it means nothing. Instead of that, when you start making a difference in someone’s life, you will see that is a much bigger thing than earning the money.
Innovators are known to change peoples lives, and if you look just 30 years behind us, technology bloomed like a rose in June.
Bill Gates, Steve Jobs, Mark Zuckerberg, Elon Musk, those people made a huge difference. Of course, you don’t have to even near to them, but you get the point.
Inventing new solutions for you and your customer needs and wants ensures a long profitable life for your company.
This is how most successful companies establish and maintain their lead in their industry.
5. Attend Networking Events
Your business will grow very slowly if you just sit home and work. Yes, posting daily on Instagram counts as sitting home!
Networking is a great way to connect with people who can help you build your business. You can find employees, more customers, and even investors.
Get out of the house, go to events, talk with other business owners. If you don’t know any, talk about your business to your friends, where are you at right now, are you stuck somewhere.
You wouldn’t believe how networking is powerful!
6. Quality over quantity
It doesn’t matter what your product is about, it’s important you focus on quality, not just quantity!
Quantity is a short term game. If you go over to Aliexpress you will various low-quality gadgets for all kinds of things. These gadgets had a viral period thanks to drop shippers, but because they lack quality people stopped buying them.
Yes, quality costs more in production, but once you set the price for your product, knowing how quality it is, people who get the product will be satisfied and once again you will have your biggest ally by your side – word of mouth.
7. Identify new opportunities
You need to understand your demographic better.
By studying who watches you, who follows you, who thinks about getting your products, who gets them, you will get answers to questions like “How can I improve this product?” or “What should my next product be?”.
For example, if you are a fitness trainer and you have a website that sells weight loss courses, you want to know who is in your demographics. If you see that your website is mostly visited by women aged 35-50, the very next thing you should do is to make weight loss course for a middle-aged woman.
Just think about how to call that one, because a “middle-aged woman” doesn’t really sound good… But you got the point!
Understand everything from distribution channels to your direct competitor, and even an analysis of foreign markets and other potential industries.
There are likely thousands of new opportunities you could pursue immediately with the proper amount of analysis.
8. Build an email list
Without an email list, your business has the end date. Maybe you still don’t know it, but it exists, trust us.
The email list is a big gun you pull out when it’s time for the boss fight.
Rusty Moore from VisualImpactFitness is a living example of how important email list is. Rusty started his blog way back in 2007 and had amazing results with Google. Few years after he was stung by Google algorithm update, where his business went down. What kept him alive through the recovery process is his email list, because that’s all he had.
When customers give you their emails, that’s the sign they trust you and they want to hear more from you. Build trust funnels that will keep your list engaged in your content, and that way you will scale up your business.
9. Treat your employees with respect
Time of angry and screaming bosses has passed.
There are huge amounts of business opportunities out there and if you want to keep your employees loyal and happy, make sure you treat them with respect.
Even though loyalty is the most expensive thing today in business world, building it costs nothing.
10. Don’t forget about social media
Even if you are opening a small store in your town, you mustn’t forget about the power of social media.
Whatever you try to create, grow and make successful you will have competition.
Competition is good because you can see what sources they are not using, and how can you use them, but you can also see where are they successful and mimic what they do.
Social media marketing is one of the essential parts of every business because:
- You get to reach hundreds, if not thousands of people in a matter of second
- You get all kinds of feedback about your products and services
- You can communicate with people that are your (potential) customers.
There’s no need for you to get into Reddit wars or comment wars.
Just keep it positive and make everyone feel that they are heard.
Growing business is not for everyone. That’s the main reason why people build partnerships and teams in their companies, it’s almost impossible to do it by yourself.
For a successful business to grow you need to run a customer-centered business. Customers and clients that get your products or services are the ones that keep your business alive. Make sure to shift your mindset from “How can I earn more money” to “How can I provide more value to my customers”.
Improve customer service, so your customers have 100% satisfaction and you will get the best marketing strategy ever – word of mouth.
Think like and be an innovator. The secret to long profitable company lies in inventing new solutions for customers.
Don’t end up sitting on your couch and watching Netflix after work. Networking is very important when it comes to growing a business.
Make sure you are always focused more on quality.
Learn about your audience, listen to them, learn what they want really, and that way you will be able to make a product that will be the best solution for their problem.
Build your email list while building your company. The email list will ensure you build trust with your customers, and make more sales.
Respect your employees and they will express their gratitude through hard work, dedication, and loyalty.
Make sure you are engaged with social media. It’s #1 tool in 21 century to grow your business!
And last, not least but probably most important – outsource.
Save time and money by hiring jobseekers from Eastern Europe. On JobRack you can find extraordinary jobseekers from Eastern Europe that can help you save time and money, and to help you grow your business.