4 Tips For Business Owners
If you’re a business owner, you’re going to love this article because we’re going to give you 5 actionable tips that will accelerate the growth of your business in a short period of time.
You can implement these 5 tips immediately and change the way you run your business from here on.
Let’s get started!
Invest In Employees
You’re only as good as your employees and you should always be looking to either hire people who know more than you or invest in your current employees so they can implement the knowledge they gain into your business.
It will cost a lot upfront at the beginning with many courses running into the hundreds and even thousands of pounds, but the pay-off in the long-run will be worthwhile.
What if a piece of knowledge that an employee learns in a £500 course saves your business £10,000 in wasted spend for example?
If someone could guarantee that for you, you wouldn’t even breath before handing over your money and saying, “yes please – sign them up!”
There’s always someone with more knowledge than you, your business and your employees so seek those people out and absorb every bit of knowledge you can from them.
Reduce Unnecessary Costs
A big sting in the bum for many small business owners is wasting money on unnecessary expenditure.
What entails unnecessary expenditure?
- Software Tools
- Expensive telephone systems
- Bean bags when you have adequate sitting already
The first point, software tools, is a huge waste and possibly the biggest waste for the majority of business owners. Don’t get seduced by these extra tools that have no direct benefit to your business.
You have a mobile and you can download software that will turn your mobile into a business phone for a fraction of the cost of a complex telephone system.
And for pete sake, do not waste all your money in Ikea on multi-coloured bean bags!
Use a Virtual Office
Many business owners would have had a dream of a big corporate office in a prime location in the city, but not now.
Instead, you can get yourself an address in a prime location that you can register your business at without ever having to be there or buying the building itself.
A virtual office is extremely affordable too – coming in at under £5 in some cases for a prime location in London for example.
Look At New Marketing Channels
If you’re considering advertising in your local newspaper or if you’re really going for it and looking to buy a prime-time slot on television…hold your horses.
Have you looked at a content marketing strategy or running some cost-effective Facebook ads?
It’s worthwhile before you seek out the traditional advertising methods even if it’s a small budget where you test the waters.
You can even try out advertising channels such as Pinterest and LinkedIn who have a more niche audience than digital marketing channels like Facebook and Instagram.
Facebook is the biggest digital marketing channel by far that is available to business owners and there’s a huge opportunity for you to reach those customers who may or may not have heard of your business before.
Through the use of custom and lookalike audiences, you can target existing customers or use Facebook’s algorithm to help find people like your existing customers.
P.S. Don’t use boost posts if you want to make money on Facebook!
Bio – The Good Marketer is a Marketing Agency in London which drives more traffic, generates conversions and increases sales for Small-To-Medium Sized Businesses.