Executive Chronicles | How to Cultivate Business Growth | There are over 30 million small businesses in the United States. In many ways, running a small business is the American dream. Small businesses get to be their own boss, make their own hours, and test their business against competitors.
However, a surprisingly large amount of small businesses fail. Success in business is largely linked to how well a business can grow. It’s important to grow your business so that your business doesn’t fall.
But business growth is hard to manage. This article will serve as your brief introduction to growing a business.
Get On Social Media
Social media might have seemed like a fad at one point, but now, over half of the world’s population, 4.48 billion people, is on social media. If you’re not putting yourself into the realm of the digital, you’re missing out on a ton of customers.
Contemporary advertising is less about sending messages to people that say “hey! — buy this”, and more about simply putting yourself in the path of success. Social media allows customers to stumble upon you and enjoy your content before they ever even visit your in-person store.
Social Media is also a godsend for public relations. Now, customers can ask you questions directly and receive direct answers.
Coach Your Employees
A business is only as strong as its weakest link. This is especially important in the 21st century when a slight slipup can cause a social media PR disaster.
Ethics are extremely important in business. However, ethics can only improve your business if every single one of your employees is following them. If you’ve seen a downtick in business lately, one or more of your employees might be slacking.
However, the solution to this isn’t to scold or fire the employee. You need to change what you’re doing, or the problem won’t change. Certain employees need to be steered in the right direction in order to succeed.
This is why coaching is important.
Business coaching is an extremely strong option for anyone looking to grow their business. It’s one thing to make new rules and teach them to your employees. It’s yet another to hire people to teach them step-by-step the things they need to do to enact change.
Putting your employees through training shows them that you care about developing them as people. They’ll repay this care with hard work.
Listen To Your Customers
At the end of the day, your business is all about your customers. Clashing with your customers is never a good idea if you want to grow your business.
Of course, you need to show your customers that you have integrity, but you also need to show them that you’re willing to listen to their complaints.
Customers can complain, but they can also tip you off to the things you’re doing right.
Take These Tips For Business Growth
In our rapidly changing world, business growth is extremely important for the survival of a business. If you can’t adapt, you can’t stay around.
Make sure that you get on social media, coach your employees, and listen to your employees, and you’re far more likely to stick around.
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