If you know you have a great business idea but you are finding it hard to grow your new business in the way that you had hoped and expected, then you will need to look more deeply into what might be causing these problems. Just what is it that is cramping your startup growth? Once you have determined what these issues are, you will be able to combat them and start growing and succeeding exactly as you want.
Not Listening To Your Customers
Your customers are the most important part of your business. No matter what sector you might be in or what you are selling, whether it’s a product or a service, without your customers, you really have no business.
A mistake that could be causing your startup to grow more slowly than you want is to ignore your customers. Doing this and going ahead with your own ideas could mean that you alienate those who are buying from you, and they won’t help your business to grow by buying again or by telling their friends and family that you are a good business to deal with.
Ideally, you should ask for feedback whenever possible, and act on it when you can. When customers contact you and ask questions or suggest changes, listen. You don’t have to do as they say, but by listening, you are making yourself more trustworthy.
Not Hiring When You Need To
You might plan not to hire anyway, and to keep your business smaller so that you can control all of it and work in it yourself. That’s not a problem at all, and as long as you realize that your business will reach a point where it plateaus if you’re happy with this plan then keep at it.
If you don’t want this and you want to grow and grow, you will need to hire other people to work for you eventually. This can be a frightening idea, and it can mean that you are going to put off what you need to do. However, doing this will stunt your growth, and could even be a step backward since you will be unable to fulfil orders or give good customer service as you will be too rushed.
Therefore, you will need to hire someone as soon as you know they are needed. Do some research about how to find the ideal person: you want someone with the right experience and qualifications, and they should know how to write a cover letter and a resume. These details can make a big difference and can make the hiring process a lot easier.
Not Marketing Effectively
Without effective marketing, it will be extremely difficult to grow your business. Effective marketing means that you market in the right places, the places where your target market is most likely to be. This could be on:
- Social media
- Radio
- Television
- Print media
- Workshops and events
- Sponsorship
If you don’t market in the right places, you will be wasting your marketing budget, and not enough of the right people will see what you are advertising.
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Contributed content
Founder Dinis Guarda
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