So you have a business now how do you make it better? A good business always looking ways to improve whether that’ offer better product on our retailers how you can take your business to next level.
signs it’s time to grow
you should looking ways to improve your business but their is such thing grow too quick too soon take American apparel example; which opened nearly 100 stores just 6 year after it launch then fell deeply in debt filed for bankruptcy and shut down its stores become an online only retailer the lesson hear ? before you invest too much time energy and other resources into your busines make sure its right time to grow here are some
your indestry is growing
What does it mean when an industry is growing?A growth industry is that sector of an economy which experiences a higher-than-average growth rate as compared to other sectors. Growth industries are often new or pioneer industries that did not exist in the past. Their growth is a result of demand for new products or services offered by companies in the field.
YOUR CUSTMER WANT MORE
if you have more business than you can handle ,it probably time to grow of cource sudden spices is sales are not necessarily and indicter that demand is high this could just be a fluke
Customers need your product or service to function the way they need in order to solve their problem or desire. Customers have unique budgets with which they can purchase a product or service. Your product or service needs to be a convenient solution to the function your customers are trying to meet.
GET NEW CUSTMERS
Perhaps the most obvious way to grow your business is to get more customers. And there are a handful of strategic ways to achieve this, whether those customers are consumers or other businesses.
GET TO KNOW YOUR EXISTING CUSTMERS BETTER
Know your customers better because only they can help you get more lead and more business. Understanding customers is the key to giving them good service which in turn results into strong customer relationships and new sales through positive word-of-mouth recommendation.
RESERCH YOUR IDEA
You probably already know the basics of launching a new product: It starts with research. “When you discover that nobody actually wants the product you spent thousands of dollars and months creating, it’s a huge blow,” said Mr. Sethi. To prevent this, research customer data that already exists for your offering. Let’s say you have a successful money-saving app and you’re planning to expand it to investing. Research online investing communities and read reviews for books on investing. What are customers saying? What are the problems they need to solve? Some other areas you might want to research:
Build a bigger online presence
Even if you don’t have an online business, expanding your online brand presence is crucial to getting your product in front of more eyes, especially if your product sells directly to consumers. Some strategies you might consider:Post content consistently. Whether you share content via a blog, newsletter or Twitter account, posting regularly will help your followers stay interested and engaged with your brand. Use tools like Hootsuite and IFTTT to schedule posts and shares.Stay true to your brand identity. Whichever online platform you use to promote your business, make sure the content you post is consistent to your brand’s identity. For example, if your brand is about simplicity and minimalism, you probably don’t want to post something about the best Black Friday deals.Run a promotion. Generate buzz around your business with a giveaway or contest. For example, Lonely Planet uses Instagram to encourage users to tag their travel photos for a chance to be featured on the Lonely Planet page. This expands their reach to other audiences and gets users to advertise Lonely Planet at no cost to the brand.
