Tips to grow a business….

Here are few tips to grow a business

1.Invest in building a formidable team round your business.

Learn more about team building

2. Monitor your cashflow, know your costs,revenue,gross and net profits.its important to know if your business is making a profit or loss.

3..Know your customers; be sensitive to their demands,manage their customer experience. Work out marketing strategies based on their purchase behaviors to get new customers and encourage repeat business. Personalize customer experiences to strengthen relationships.

4.Invest in self development; acquire knowledge and skills that develop your mind .

5. Re-invest revenue back into the business to actualize growth plans

tips to grow a business
photo credit : www.clipartkid.com

6. Constantly update your knowledge of the industry in which you operate; this keeps you proactive and helps you identify new markets and opportunities within.

7. Know what your competitors are up to, does not mean you have to stalk them,it just keeps you in check when planning and helps you carve a niche for your business.

8. Keep record of your business activities,this will help you identify trends, new behaviours as well as inconsistencies within the business. With these records you can capture how resources available within the business are used.

9. Take advantage of technology to grow; technology can be used to automate certain processes and save time. Technology (internet) can also be an inexpensive way to learn more about your market as well as reach out to them easily .

10. Be flexible to changes and demands of your market so you don’t get stuck in the past.

11.Be happy; make out time for people you love and things you enjoy.

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