Whether your business growth has been a long time coming or it has happened virtually overnight and almost (or completely) taken you by surprise, you need to know how to handle it when it does happen. A business that is growing seemingly out of control is just as worrying as a business that isn’t growing at all – and it can fail just as quickly. When your business starts to grow there are some measures that you can put in place to ensure that you don’t take any backward steps and that you keep going in the right direction.
Create A Sales Funnel
Sales funnels are a great way to automate your business as much as you can, and that can be hugely helpful when it is growing fast, as you won’t have to keep on top of things quite so much. A sales funnel is a series of steps set out to help make purchasing decisions as well as the purchasing process much easier for a potential customer.
Note: It will take some work to put in place, but once it is done it will make your business run more smoothly, no matter how quickly it is growing, so it is worth the effort.
A standard website will be set up using a shared server, and this is perfectly normal. However, as your business grows and you need your website to do more for you, you may want to think about switching to VPS hosting instead. A VPS is a virtual private server, and it means that you can store a lot more and have larger files available because you aren’t sharing your network with anyone else as you would normally do. If you want to be able to do everything you need to for your business, upgrading to a VPS is essential.
Know Your Competition
Knowing your competition is important even before you start to grow, but once you do it is essential that you have an understanding of what your competitors are doing.
- Why? Having this knowledge means that you can be sure that you are differentiating yourself. Plus, it means you will know if and when someone starts to use your own ideas to boost their own sales. Alternatively, it means that you can get new ideas for your marketing, which could help you to grow even more.
Create A Loyalty Program
Loyalty programs can really make a difference to your bottom line. It costs a lot more money – perhaps as much as three times – to find new customers as it does to sell more to old customers who already understand your products and services, and who like the way you work. Loyalty programs gives them even more reason to come back to you rather than go to a competitor, almost guaranteeing future money from them. Remember to be careful with what you are going to give away, or what kind of discount you are offering – you want more sales but not at the risk of losing too much money along the way.
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Founder Dinis Guarda
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