“I sincerely appreciate your attention, Thank you!”
And the presentation ended with a sigh that we (the newbie in the industry and a group of 3 friends) have done our job well to convince the investors to like our business idea. There was great tension in the room, the hot chills pass through our bodies as we were waiting for the investors to react and give their decision. The investors, after taking few seconds started asking the questions, and then it was time to hear the final verdict.
And it was a big NO! The word just startled me to get out of the bad dream that acted as the nightmare a day before we were going to finally present before the investor. But contradictory to my dream, the next day the final verdict was a YES! Something that I realized that day was, just having a good business idea is not enough to get to the peak that all the newbies of the industry desire. There is a lot of hard work involved once you enter the industry.
You have to walk through the thorny roads of implementation, acceptance and delivery while also taking customer satisfaction alongside to attain the successful business growth.
As most of the start-ups have their own journey to success, here in this article I have shared some business hacks that work for today’s world to give your start-up a solid kick towards a successful future.
● Good social media reach can change the numbers
Today is the time of media, whether its a TV, radio or social media platform like Facebook, Instagram or Twitter. These are the platforms that can make or break your business. As most of these platforms have a huge audience. The first thing that can take your business graph to a higher level is setting a benchmarking reach on these social platforms. So how can you do this?
Hiring a digital marketing company can be an option but if it doesn’t fit the budget of your start-up, its better you don’t wait and start posting yourself.
Pro tip: To survive the cut through the competition, you have to keep your business posts relevant to the current market trend or news as this would help increase your sales. This strategy is a full-proof plan for business growth, no wonder even celebrities like Rihanna and Cristiano Ronaldo as adopted social media as their business strategy.
● Redefine perfection daily
The perception of perfection is different for different people based on the business, so keeping it on the broader view, perfection is something not everyone could achieve.
Make sure the product or the service that you sell to your customer is having some benchmark achieved to be called perfect to be used by the audience.
The secret to successful business growth is the continuous improvement in the service that you give. Find ways to make your product stand out of the other in the niche. Revise the strategies of your business, hire people who have an innovative mindset and can help you add something extra to keep your business in the limelight.
Bringing something new every time will help you maintain the attention of your audience who are always expecting something great from your side to be served to them. This will help you grow your impression as a brand in the market.
Some of the best examples of the redefining perfections are Dairy Milk and Amul. The way they improvise their products is something every newbie in the industry should keep an eye on.
● Your Investors might have some loopholes
The world is all about giving and taking and when you are part of this world, you should know when to give and when it’s time to take it back with interest.
Business is all about profit and loss and the people working for it.
Being a business mind the very important skill that you should develop is knowing everyone’s strengths and weaknesses. Here I am not suggesting you use someone’s weakness, but sometimes it’s in your hand how you could convert someone’s drawback into your business plan.
Your investors are the ones who can run your business out of cash if they aim to, so always keep an upper hand by knowing them well and maintaining a good professional relationship that could further help you get better opportunities.
After all the circle you are in matters for the overall development of the company.
● Your business needs expert advice
You might be having a great business idea, you might think that everything is working fine for you, but you don’t know what the next morning is going to bring you in terms of your business development.
Here you are at no fault because its the business and everyone learns from the experiences that they have through the journey.
But as the new corporate owners that are coming in the market, they are very particular and wise to take a risk.
They ought to get in touch with the business growth consultant and seek expert advice for the situations that they are stuck in.
This new approach of taking the help of someone experienced in the niche can help fuel business growth and increase its development pace by 50%.
The advantage here is the experts at these consultancies have good market knowledge and have some logical solutions to the industry problems based on the experience they have that can keep your business running on the right track by making the correct decisions.
● Invest in talent
Your team is what is the base of your foundation. Having a strong and understandable team that looks and works for your organization as you vision it is what can lead to your business growth.
So, if you think that there is some area where your employee’s lac weather in terms of equipment or knowledge, always be ready to put your money in those areas.
Help your employees update the knowledge by pushing them to involve in technical training sessions. Call out some experts who can impart their industry knowledge to your team. Organize the team building activities that can help you create a good company culture for your employees to work together as a team.
● Learn the art of customer retention
The last and the only thing on which your business growth depends is your customer. A happy customer is what can help you gain profits for your business as they are the ones who are going to use your product in the end, so giving them the best experience of what they are served is what should be the goal of each company.
Here the experience doesn’t end with the delivery, but the after service experience acts as a hero for retaining customers in the long run. Think how great it would be if a manager at the restaurant asks you about the experience you had eating there and the things that you would like to change if you were the owner.
This small thing seems unimportant, but are the reason behind the huge customer base most of the leading brands of the market. So start focusing on your customer preferences as a personalized experience is what your customer is expecting from you.
To put in a nutshell, business growth is a subjective matter as the rules work differently for a different niche. But the only thing that can help your business grow is the passion that you keep and the methods that you apply to take your ideas to the implementation. So start incorporating this growth hacks into your start-up business plans and get ready to fly high to the new horizons of business.
James Vargas is an experienced business expert, consultant, and manager at Get Everything Delivered, a business consultancy service. He has 1.5-decade corporate experience and is tailoring the best project delivery practices to the start-up owners based on his knowledge to solve start-up business problems to great revenue for their business.