5 steps to grow your Small Business

"Unless you are quite happy just ticking over, it is likely that you will be looking for ways to develop and grow your business"

These are 5 steps to grow you small business:

• Review your business strategy - Regular evaluation of your marketable strategy empowers you to measure your business progress. Are you achieving your objectives?  Reevaluate where you need to be this time one year from now and choose how you'll arrive, involve workers if you have. Set new goals and development strategies, if important.

• Keep sound cash flow - Solid finance support solid development, so look at your income projections for the year ahead. Are there any potential issues that could hinder your desire or threaten your survival, if you have any cash flow problem you need to consider and fix it and you need to do cash projection periodically.

• Target new customers- Targeting new customers is an important part of any business growth, some business rely only on the loyalty of few customers which will prove to be dangerous in long term. Think about new ways in which you can reach new customers and make plans on how to target them.

• Promote yourself on line- Though you don't sell your product on line but still you can promote your product online. Nowadays every business has it's website, make such a website which will represent your business efficiently. Social media plays an important role in promoting any business and it's the best way to interact  will new customers for instance you can make your company profile page on Face book in order to know demands of the people.

• Bring in new people: Business might not be able to recruit new people but, if u can than recruit new people which can bring new ideas that can benefit your business and make your business more profitable.

References:

http://harishkeswani.com/business-growth-program

http://www.startupdonut.co.uk/startup/business-planning/10-steps-to-growing-your-business-

http://www.businessdictionary.com/definition/business-growth.html

10 Small Business Marketing Tips and Tricks

   

  1) Know you Customer:

• Describe why they want to buy your product?
• When you know the motivation, you can target the product to the correct customer base.

  2) Create a Survey:

• Create a survey and mail it to your potential customers to know what motivates them to buy your product.
• Promote your product by giving special offers or coupons or tell them about your product that they can give themselves as a gift.

  3) Two set Approach:

• Step 1: To show your expertise offer free "fact Sheet" to your customers.
• Step 2: Add these Customers to your mailing list and mail them often.

  4) Promote Current Events:

• Promote your product in a better way by doing Tie-up with trends and current event programs like Olympics, World Series etc.
• One can gain valuable credibility by association with known group.

  5) Business Cards:

• Make a memorable business card make your small business card your mini-brochure. To make it more attractive use different shades, back of the card for more information.
• Give several cards to business associates who might be able to promote your business. Give a card to everyone you meet, and put one in every letter

 6) Three secret of marketing:

• you must be consistent. Why does McDonalds advertise every day on every channel? Is there anyone in the USA who hasn't heard of McDonalds? The marketing message must be constantly reinforced. Your customers will forget you if they don't hear from you.

 7)  Use One media use to direct your customers:

• Media plays an important role in order to advertise product to reach your target market for instance if target market is teens is with radio or face book.

8) Use Supplier and Vendor for information:

• Talk to your suppliers and salespeople who call on you, they know more about your competition than anyone else.

9) Track clients special requests:

• Create a special form in order to track special request from your customers regarding the product or some special services and weather you can meet these requests or not.
• when you keep track periodically you can study these forms and analyze your customers interest in your new product or service that your could offer.

 10) Be an expert:

• offer Seminars, seminars help cement relations with current customers, attract prospects, and increase your company's exposure.
• Follow-up with attendees by mail or in person.

References:

http://www.smalltownmarketing.com/101_marketing_ideas.html

http://smallbiztrends.com/2016/06/top-free-business-listing-sites.html

Small Business ideas with low Investment

Today we find several dynamic and young individuals who are aspire to start new business and they are always looking for the Business Ideas with low Investment. So, here are 6 Small Business Ideas with Low investment.

1)  Mobile Food Shop: Today we are living in mobile generation staring a new mobile food shop is a good idea as it require low investment also there is no need of several employees as well as business owner have more Independence when it come to when and where they will sell their food.





2) Travel Agency: Starting a Travelling Agency is good business opportunity with low investment for instance: Many Students want to go to abroad for their further studies which shows that there is huge market for travel agency.

3) Courier Company: One can start a small courier company or can do tie up with exiting courier company and start you business there are number of courier company that are running good business worldwide for example: DHL, FED EXPRESS etc.

4) Advertisement Agency: Starting an advertisement agency is an evergreen business opportunity which can earn you big money. There are main 5 types of advertisement agency like Interactive Agencies, Media Buying Agencies etc. From which you can choose and start keeping in mind your interest and availability of capital.

5) Web Designing and Hosting: Web designing is becoming a modern art form. If you have knowledge about various IT tools and programming languages you can opt career as web designer and later on can expand this small business.

 6) Small Grocery Shop: Starting small grocery shop is another good idea here you do not require any special skill and you may start from small shop and gradually expand as per need.







There are alot of small businesses that you can start with small or no investment like:

• Computer Trainer
• Starting On line Blog
• Security Agency
• Recruitment Agency and many more..

For more information regarding small Businesses you can visit to the link mentioned below:
50 Small Business ideas: https://www.youtube.com/watch?v=koo3Xx5Qu0c

References: http://www.concessionnation.com/build-a-food-trailer-info-the-advantages-of-mobile-food-business.html
http://money.usnews.com/money/personal-finance/articles/2013/08/07/the-costs-and-benefits-of-running-a-mobile-business
http://managementstudyguide.com/advertising-agencies.htm

Small scale businesses: Market Share, Advantages and Disadvantages and Main Objectives.

"Whether the scale of production is Small, Medium or large, the size of the business depends on various factors like Availability of finances, managerial ability and efficiency expectancy."

It's never easy to decide the size of the business unit, One needs to see the connection of the extent of a specific business with proficiency and additionally see whether that specific size fits well in that specific social structure or not. All these questions must be keep in mind before deciding the size of business unit.
 Small business are the major suppliers in the market as compare to large business the pie chart mentioned below shows that Small business contribute to 44.1% of the total market share whereas large only 9.9%.

     Advantages and Disadvantages of small business:

Main Objectives of Small Scale Business:

• To create more employment opportunities with less investment.
• To remove economic backwardness of rural and less developed regions of the economy.
• To ensure equitable distribution of income and wealth.
• To improve standard of living
• To mobilize and ensure optimum utilisation of unexploited resources of the country.

In the next post I will be discussing the Ideas for small Businesses with small investment.

References:

http://businesscasestudies.co.uk/nfte-uk/the-importance-of-entrepreneurship-in-small-businesses/the-importance-and-benefits-of-small-businesses-today.html#axzz4D1RYg6gZ

http://yourbusiness.azcentral.com/10-important-business-objectives-3840.html

Business: An introduction

Why do people start a small business? Some want to spend more time with family, and starting a business allows them to do that. Some find it exhausting to be outside the house all day, co-workers, meetings. Some people hate answering to a boss all the time. Some people are unmotivated by the security of a regular paycheck and prefer the challenge of the direct rewards or losses that entrepreneurs see from their efforts. Before starting we should know what exactly the business is so, Business is an occupation, profession , trade or an organization in which basic resources, called inputs, are assembled and processed to provide goods or services, called outputs, to customers. People who are engaged in business activity are called Entrepreneurs or Businessman.

 Business ownership can be of four types:

  

   

 

 

 

Types of Business Operations:

1. Service Business: A service company is a business that generates income by providing services instead of selling physical products. A good example of a service company is a public accounting firm. They earn revenues by preparing income tax returns, performing audit and asset services, and even doing bookkeeping work. It include, but not limited to:

·         Transportation

·         Hotel, Banking

·         Consultation etc.

2. Merchandising Business: A merchandising business, sometimes called merchandisers, is one of the most common types of businesses we interact with daily. It is a business that purchases finished products and resells them to consumers. Think of the last time you went shopping for food, household items, or personal supplies. Example of merchandising Business:

·         General merchandise such as grocery store and retail business

·         Apparel stores

·         Online stores such as Amazon.com, iTunes.com, Audible.com, eBay, etc.

3. Manufacturing Business: A manufacturing business is any business that uses components, parts or raw materials to make a finished good. These finished goods can be sold directly to consumers or to other manufacturing businesses that use them for making a different product.

·         Computer and electronic manufacturer

·         Car, trucks and vans manufacturer

·         Shoe and clothes manufacturer
 

 
REFERENCES:
http://www.investopedia.com/university/small-business/
http://www.accountingverse.com/accounting-basics/types-of-businesses.html