Become an Expert
Specialize in a particular product or service. This is easier said than done, but by putting in an extra effort by attending workshops or seminars, you could solve difficult problems associated with your product and services.
You can start on a small scale initially; but as your experience and reputation builds up, you can also speak at some of these seminars yourself.
Projecting yourself as an expert also helps get your business’ name out there – and once you achieve the status of an expert, your business will soon see an upward trend along with your profit margins.
Maintain a Database
Maintain a list of all your existing and prospective customers, in alphabetical order. The details should contain telephone numbers, email addresses and regular, physical addresses. This data should be available at your fingertips, so that you don’t have to waste valuable time searching for it.
Keep in touch with your regular customers, and ask for their feedback on new products and after sales services. You can email your prospective customers with new product offers to entice them to become regular customers. Your employees should also be trained to behave politely when handling customers and answering any inquiries quickly and efficiently.
Follow up with customers by answering their questions in the time that you have promised them. If you need more time to research a problem or issue a refund, then inform them accordingly.
Plan Your Marketing Strategy
Use all available media such as newspapers, flyers and even the Internet to advertise your presence in the market. Build an impressive website by clearly mentioning your available products and services – but you should also mention your expertise in any particular area of business. Keep your website updated regularly with new products and offers.
Your expertise should become your USP in your advertisements, and will help build a good reputation in the future. If your business is in a specific local area, then you can distribute flyers in your neighborhood. You can also take part in trade fairs or business expositions.
You should also become a member of a business-related association. This will ensure that your business is respected in the community and will keep you in touch with other business owners and new happenings in your market.
Maintain Ready Inventory
There are lots of software packages on the market that can assist you in maintaining proper inventory levels. You need to have products available when customers need them. There’s simply no excuse for running out of products.
All your marketing efforts will go waste if you do not have adequate inventory.
Make sure that you aren’t losing money on products that never sell. If you have any products like these, discount them to get rid of them quickly.
Keep Your Workplace Well Organized
Keep all your everyday needs at your fingertips. Keep all your customer records, sales details, even your staples and pins neatly near your work area so that you do not waste precious time searching for them. It is very easy to be efficient, but you can’t overlook the small details.
One of the fastest ways to grow a small business is to pay attention to the details and stay organized. Stay on track, and your bottom line will reward you in no time.