13 Secrets for Growing Your Business Quickly
There’s no surefire formula for instant success, but you can boost your business’s growth with these tips from startup founders.
When you first launch your business, your main goal is to establish your brand and start growing. Unfortunately, this doesn’t happen overnight. Growth is an ongoing process that requires hard work, patience and dedication. There’s no special step or secret way to surpass other businesses in the industry or achieve immediate success.
There are, however, proven ways to reach growth milestones that can catapult a business to success. We asked small business leaders to share their tips for accelerating growth.
1. Hire the right people.
Before you can even think about your company’s growth trajectory, you need to have a solid staff to help you achieve your goals.
“Hiring the aabsolute best people you can is a surefire way to ensure fast growth,” said Christian Lanng, CEO and co-founder of business software provider Tradeshift. “It’s all about having the right team.”
With hardworking employees dedicated to your company’s success, your business will be better equipped for continued growth. In addition, delegating tasks to focus on important work will free up your time and energy, allowing you to perform at your best and cultivate a collaborative work culture.
2. Focus on established revenue sources.
Rather than trying to acquire new customers, direct your attention to the core customers you already have, suggested Bill Reilly, a Wisconsin-based auto repair entrepreneur. You can do this by implementing a referral or customer loyalty program or trying out marketing strategies based on previous purchasing behaviors to encourage repeat business, he said.
This focus on your established market is especially important if you’re trying to get funding.
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