Looking Ahead: Small Business Growth Strategies for 2013

The new year is quickly approaching and you know what that means? It’s resolution time. If you’re a small business owner, making a resolution isn’t just about your personal goals, like losing weight, making more money, or taking a vacation; it’s about the goals you set for your company, and how you plan to grow and improve your business in the coming year. Are you resolving to better your company in 2013? Check out these great small business growth strategies that are sure to bring in big results:

 

Expand your reach.

One of the most tried and true small business growth strategies is to simply expand the reach of your business. Take a look at your company and think about other locations or regions that may be a good market for your products and services. If you currently only operate storefronts in Chicago, consider branching out and opening some in Dallas, Miami, Los Angeles, and other major markets. In addition to just opening up new locations, you could also think about getting your products offered at other businesses, like super markets, grocery store chains and bookstores. Anywhere that your target customers may be is a potential venue in which to expand your reach.

 

Network and collaborate.

There are many other small business owners out there just like you who are trying to get their companies off the ground and profitable. Seek them out and look for opportunities that could be mutually beneficial to both companies. If you make hot sauce, look for local restaurant owners who are willing to put your sauces on their dining room tables. This gets your company exposure and has an added benefit to the restaurant’s customers. Additionally, you could even offer them some stock and allow them to sell your sauces at the check-out counter with a small mark-up; then, both you and the restaurant get a financial benefit from the relationship.

 

Add value.

This is one of the most sure-fire small business growth strategies in the book. Take time to learn about your customers and discover what needs and wants they have. Sure your products and services meet their needs on some level, but what more do they want? How can you improve your products to add value for your customers? Better yet, what products or services can you develop and launch to complement your existing ones? Any way you can add value to your offerings is a way to add money in your pocket.

 

Find a new niche.

You’ve already got one niche down; instead of messing with success, why not just branch into another? Analyze the market and take time to evaluate the demands and needs of those outside your target demographic. What are their needs? What is popular with them? How can your company offer a product or service that would fit what they’re looking for? If you can find a new niche to break into, it’s an automatic new revenue stream!

 

Get exposure.

Out of all the small business growth strategies we’re touting, this one’s the easiest. It simply means you need to take every opportunity to get your products, services and brand out there and in your customer’s field of vision. Attend trade shows and display your product at industry expos. Rent an info booth at a local convention, or hit the road and head to a networking event. If you’re on a smaller scale, simply go to an area flea market just to get your brand out there. The more exposure, the better!

 

Want more small business growth strategies to help improve your business in the new year? Contact the Connell Curtis Group today!

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