By Katherine Halek
Your first taste of success can be intoxicating. When you see your first significant profit or sign your first major client, it’s definitely a time for celebration. Don’t let that lull you into relaxing your watch over your finances. Maintaining frugal habits is essential for sustainable growth in a young business.
To continue expanding your reach while bringing in new business and not overspending your time or money, try these suggestions:
Don’t neglect social media. After you get your first steady stream of customers, it can be tempting to let your social accounts coast for a while. Actually, it’s even more important to keep checking them regularly, as people now expect you to be available for questions and other matters. You don’t have to be on day and night; just establish a short window at the same time every day to check for questions and comments.
Reward customers. Come up with an awesome loyalty/referral rewards program. Don’t just stick with the widely used “points-for-discounts” format—come up with something that fits your brand and gets patrons excited about participating.
Write on. Don’t stop writing good content, on both your own site and similar ones across the Web. If you don’t keep building your reputation as an authoritative source in your field, your success will fade.
Go mobile. Make sure your online presence is mobile compatible. You can have your own app or even choose a web hosting platform known for its excellent mobile responsiveness. This makes you more accessible to your customers.
Think local. Keep engaging locally, promoting local businesses and showing your community spirit with the causes you support.
Offer free stuff. When feasible, offer free trials or bonuses to faithful longtime customers to thank them for sticking with you. (Free stuff is also a good way to get people to check you out for the first time.)
Turn down projects. Don’t let yourself get roped into doing something you really don’t like or won’t benefit from. If there’s any way to avoid taking a job that you dread, do yourself a favor and don’t take it. Even though a project might bring in some quick money now, your hesitancy will be evident in the way you handle it, and it will be hard for you to give your best. You don’t want to waste your valuable time on something that drains you.
Watch your costs. Make absolutely sure you can afford a major expense before you go for it. Will it be worth it over time? Will it still be as profitable in the long term as you think it will be?
Value your customers. Above all, don’t just view customers as a way to make your business grow. Ask yourself how your business can add value to their lives, and the progression will happen naturally. This may be through the educational content you write, the fantastic customer service you offer, the speed with which you seek to repair bad experiences—or all of the above, and more.
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The post How to Grow Your Small Business on a Budget appeared first on AllBusiness.com
The post How to Grow Your Small Business on a Budget appeared first on AllBusiness.com.
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