How to Grow Your Business In 2023-2024

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How to Grow Your Business

It is very difficult to grow business from initial stage but yes there are some rules which you have to follow to grow your business. I will explain one by one.

Set You Goal:

If you are starting any business, you need to think twice or thrice, how shall I start my business? First define you goal. Also set deadline for achieving the goal. Without setting a goals, you can’t possibly know that either your business is growing or not. Setting the goal, not only teach you that where are you failing and how to correct your direction.

List Your Business:

If you are just started you business, then you have to make online presence of your business. There are free listing directory available where you can submit your business details. For initial day, it is very effective way to grow your business.

Give Offers, Discount and Coupon Code:

If you have online presence of your business and want to attract your customer then you have to think about providing offer, discount and coupon code. Either you can create website for your business, or there are number of website designer available online which can create business website on affordable cost. You can crate coupon code for your product and post that coupon code on your website. But problem is that your website should have decent amount of traffic so that customer can buy product from your website. If you want to bring traffic to your website, you can consult top website which can promote your business along with your website.

Create Social Accounts:

Now days, everybody is on social media like Face book, Twitter and WhatsApp etc. So people on social media could be customer for you. So you can create social page for your business or create group related to your business or you can join related group to your business. After creating business page on social media, you can re-share it on other group to make awareness of your business. Either you can share your page on social media or you can hire employee to do branding of your business or you can buy online plan which are available on low cost. According to me buying online plan is really good rather hiring employee and giving salary to them.

Create Referral:

If you business is related to direct customer and have good presence online then you can create wallet system or even Paytm system could work better for you in initial stage. You can say your customer to bring customer for me and I will give discount if you add other customer for me. This can be started by crating referral code by them and keep referring other customer for you using that referral code.

Nurture existing customers:

Most of the business man do big mistake that is forgets about old customer and trying to bring new customer. It will never work. Yes, you have to always see new opportunities but it does mean that you should not respect your old customer. So keep trying to understand the problem of old customer and try to resolve it as soon as possible. Because these only old customer are going to do mouth publicity and may bring new customer for you.

Attend Networking Events:

You have to make networking as much as possible. Either you can join big event which are related to your business. By attending big event, you meet to other business man who can help you to give tips and also you can learn from them how they are successful in their business. There are a lot of event running on social media like Facebook you can join related group to your business and you will be keep updated.

Monitor Your Sales:

Keep monitoring you sales on quarterly, half yearly or yearly basis how it suits to your business. This will give opportunity to know what mistake your are doing and how can I increase my sales. You need to think and take action items. Based on the action items taken, you need to monitor the sales. If your sales are increasing by taking that action items then you have to bring that action in to real practice and include that action item in your goal.

Diversify Your Products or Services.

You need to diversify your business; I do not mean that you do all unrelated business under one umbrella. You need to think which other business I can start which are most closely related to my business. If you bring other business which are closely related it will help to reduce your risk and also you will able to manage those business easily.

Franchising:

If you have already set your business platform and you can’t reach in all cities then you can think about bringing Franchising concept. Where you can give your branding and ask for royalty. This is very successful in schools, hospital and restaurant. By making chain of it you can reach to each and every city.

Exporting:

If you are making product and quality of the product is really good then you can think of exporting to other state or internationally.

Guys, I have written this article based on my experience and now I have set up my platform where I am earning decent amount. If you want to know my business strategy and my earning then you refer my business model. It is just to motivate you.

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