3 WAYS TO GROW YOUR BUSINESS

What is the most important thing to run a business? Business training? Advice from relatives and friends? Business tips? A business coach who can help you out? Yes, these may be required when you want to scale your business but there is one more important thing. Always keep in mind that your business can run only and only if you have sales. Without sales, your business won’t survive. Your business needs sales, customers, prospects and if have all these, your business problems would be reduced massively. But what are these business problems that can be reduced by sales and customers? These problems could be related to purchasing, inventory, manufacturing, employee management and a lot more. Every businessman is stuck in these kinds of problems from morning till evening. So, in short, your business needs sales to reduce the burden of your problems.

Now how to get these sales? By doing hard work? No, just doing hard work may give you results in the beginning phrase but in the later stages, with hard work you need something else also. You need more of mind work in the later phrases than the hard work. A lot of brainstorming is needed to come up with ideas for improving sales and achieving the target. You have to take your business to a higher position really smartly.

How to grow your business or sales?

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Here are 3 ways by which you can grow your business by improving sales and getting more customers.

1. Create an ecosystem (Win-Win)- Create an ecosystem such that it is a win-win situation for everyone- you as a business owner, your clients, your customers and your employees. Creating such an environment/ situation would help you grow your business. What does a customer want? A customer wants that you should be able to solve his problems and help him reach his goal. If you are able to do so, the customer will be your agent forever. If you are not able to do so, then to make a sale, you will have to lower the price of your product. So, you will have to do either of these two things. Think from the customer’s point of view, think about what he wants from you. If your customer is benefitted, you and your employees will be benefitted too. To do all this, you must invest some amount of your earnings and time on yourself, on your development. Abraham Lincoln said, “ Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” The same funda goes for a businessman that he must invest on himself, on his own development. The more you develop yourself, the better you would be able to understand your customer and his needs.

But developing this ecosystem may not be an easy task. You may be able to develop it within 2-3 years or you may take 10-15 years which is too long a time period. If it takes this long, you must think f changing your business. For example, Ritesh Aggarwal, owner of Oyo Rooms started in2012 and his worth today would be more than $1 billion. He could do this because he developed his ecosystem really fast and is able to maintain it.

2. Solve the problem quickly- You may face many problems in creating an ecosystem but you must find the solution to these problems very quickly. These problems should be solved by you, your team and your expertise. You must come out of your cocoon, your comfort zone and do a little more than you usually do to succeed. Never give up and if you give up then don’t expect to win also. Keep a stopwatch with yourself and tell yourself that you must solve the given problem within a particular time frame. Don’t try too hard to go into each and every detail or be a perfectionist else it may take a lot of your time. Solving the problem is more important than being a perfectionist in it. Without delaying it, just do it.

3. Concentrate on the small market- Start your business by catering to a small market first. Make customers in a small area, make name and goodwill in this small market and once you think you have made good customers and reputation in this market, start spreading in the nearby markets, take small steps and expand gradually. Dominate a small market first and then look for other markets. This would also tell you where you have a better scope of your products. If you try to do everything in one go, you will end up getting nothing. Make yourself an expert in a few things and focus on them. Don’t divert yourself by indulging in too many things and not having an expertise in any.

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To summarise, you must create an ecosystem (Win-Win situation), have the ability to solve the problems quickly and begin by concentrating on small markets and then expand progressively. By taking these three steps, you may be able to grow your business and take it to the next level.

If you wish to get some tips or advice about your business from the business coach Mr. Anurag Aggarwal, you may join his business training program which is specially designed for businessmen and entrepreneurs. For details, feel free to contact us at 7834-99-9292 or email us at [email protected].

This article was first published on https://businessandpublicspeaking.in/2020/02/28/3-ways-to-grow-your-business/