4 Tips for Increased Business Growth
Growing a business is hard work. In order to succeed in your endeavors, you have to commit to the long, hard road ahead. But where there is struggle, there is growth. When you make the promise to yourself to expand your output, grow your sales figures, or push out a new product, you create the potential for future prosperity for yourself and your team.
The only thing left to push into place is the planning and infrastructure to fill out a robust strategy of implementation to go along with that new goal of financial and corporate success. These tips are here to help you achieve just that.
1. Start with goal setting and tracking capabilities.
OKR podcast offerings are a staple among small business and franchise business owners. The OKR framework is a powerful tool in the arsenal of the nation’s corporate elite and has made its way into small business circles now as well. OKR, or Objectives and Key Results, was made popular around the time of Google’s founding. John Doerr, one of its early investors, was a huge proponent of the system and insisted that the foundational team give the framework for goal tracking a whirl. The rest, they say, is history. Google’s leadership team has driven productivity to amazing heights, and the company is one of the largest corporate entities in the world today.
OKRs resonate with small businesses and individualized teams as well. The OKR technique is aimed at germinating a full organization‘s growth while helping team members to constantly track their progress toward trackable goals. The objectives outlines in the OKR framework act as long term visions for the future successes you hope to create for your business, while key results measure midstream progress in bite sized chunks. This way, you can track the contemporaneous progress of each member and segment of your overall team and make adjustments to the course forward if necessary.
2. Tackle marketing and word of mouth campaigns early on.
Marketing is one of the main generators of additional revenue for your business. Regardless of the product or service that your outfit offers to consumers, you won’t see the results that you desire unless you create a lasting hype around your business. Utilizing product videography is a great way to showcase the utility and style of your products and get the word out on social media and traditional advertising platforms alike.
The tone and pace of marketing activities has changed in the modern world; while billboards and bench ads are still a relevant way to reach consumers, social media and the digital outlets of data transmission have become the benchmark of market outreach. Make sure you employ an outfit that understands the tone and content changes that are required in order to continue reaching the optimal audience for your efforts. Without a smart contractor to conduct these product demos, service explanations, or blitzes that showcase the personalities within your ranks, you’ll find that your efforts largely fall on deaf ears.
3. Set your finances in motion.
Financial planning is one of the most important aspects of any new business or franchisee location. Small and family businesses are particularly susceptible to the toll of financial strain as they launch their product or service lineup. Utilizing franchise financing is a great way to infuse capital into your business right off the bat and create the conditions that will provide for your ultimate success in the future.
Franchise businesses are a fantastic way to create wealth for you and your family members. Buying into a franchise gives you a leg up over the competition by creating the brand power for you. All you have to do is run the location with class and professionalism. Of course, there is more to it than that, but the hard work that goes into magnetizing clients is already done for you. As a franchise owner, it’s your responsibility to conduct the initial market research to select the best possible location, hire great local talent, and deploy a professional and courteous service to any client that comes to you with their business. These are the keys to success, streamlined for your benefit with the help of intense brand power behind you.
4. Don’t forget about the little things.
There are many more inclusions that could make this list, but grouping these additional considerations together is likely the best way to address the “little things.” Business services like a customer service team to handle client complaints, team alignment that works for the benefit of your employees, storage units for overflow inventory or additional warehousing needs, and a work environment that fosters support and camaraderie as a rule rather than an exception are all essential traits of a business that’s poised to see lasting success. Integrity and proper planning are the common denominators among businesses that enjoy staying power in their communities.
Storage is a particularly important inclusion that many businesses simply overlook. It’s hard to see the value in ample storage space until you run out of real estate. Then, you’re faced with a chaotic scramble to handle the overflow. Instead, renting storage space that offers the security and moisture, mold, and cold protections on par with any other warehousing solution is the way to go. Arranging for self storage space is simple and cost effective. Businesses of all varieties find themselves quickly running out of space for their belongings, merchandise, and materials, so getting in touch with your local self storage facility beforehand is a great way to head off this problem before it rises up to meet you, causing chaos in the process.
Business is all about the game plan. With a strong sense of your own direction and the path to success, any business can enjoy the fruits of its labor, but make no mistake about it—there is a lot of hard work between a startup and the resting on laurels. Found your business on the principles of integrity and hard work in order to find the highest volume of profit and satisfaction possible.