By Henry Brown
A lot of small business owners and solopreneurs have a pretty strong vision of where they want to take their business, but that doesn’t mean that they should be blind to the other opportunities that are out there, the ones that bring the possibility of instant extra revenue and growth in directions they might not have even considered before. To be a successful small business owner, you need to be ready to pounce on the opportunities that are available. And in this day and age, that’s easier than ever before.
Encourage repeat and referral business
Every single one of your customers offers potential. They’re the starting for a network that can spread far and wide, tapping into demographics that you might not have thought to tap into before. They’re also have the potential to become even better – more profitable – customers than they have up until now. Upselling and cross-selling are practices that you don’t see as often as you would think, given how effective they are. If you have someone right in front of you, who has already shown an interested in one of your products or services, why not see if they’re also interested in something else you have to offer? It’s about customer engagement, solidifying the buyer and business relationship.
The web is your friend
Everybody is aware that social media can be a powerful tool whether your business is an online or real life company. And it really is powerful: it allows your customers to engage with you on a daily basis, making you a part of their day-to-day life in a way that would have been unimaginable just two decades ago. However that’s not the only way you should be using the Internet. There are an abundance of online business opportunities where you should be a presence. These include deal websites that run special promotions where you can get your company featured, giveaway and review websites, and also exclusive selling opportunities with boutique e-commerce sites if you have a unique product or service.
Alone you may be small; together you’re a giant. That should be the thinking of small businesses, which are able to bigger much bigger when they go for joint ventures with other companies. If you sell, say, luxury hand-wash products, then there’s no reason why shouldn’t be trying to sell your products to hotels and bars. Similarly, if you were a coffee manufacturer, then getting your cup of joe in with select cafes is a fantastic way to boost your profits and build your brand at the same time. If you’re looking into these options, make sure you’re only working with companies that you think are in line with the ethos of your company, because it’s not enough to just follow every opportunity: it’s about finding the right one. Luckily, this can be exciting adventure, because once you get away from the traditional ways of operating a small business, you’ll find that there are far more opportunities for growth than you might previously have thought.
Henry Brown is an online marketing executive. When he isn’t talking shop he’s roaming the streets of London, uncovering the extra-ordinary in the ordinary.