Starting a business is epic. Surviving the first two years is incredible. Growing it beyond your wildest dreams is the best thing ever. However, it is also difficult. What’s more, all of the rules and survival tips you picked up when starting your business and then surviving are now useless, and that is because a whole lot of new skills is now required to take your company forward. But don’t despair. That is what we are here to help with. Sure, there is no recipe that will guarantee success, and certainly not overnight success, but that doesn’t mean the following advice is invaluable. So read on, take notes and start getting bigger.
Focus On The Existing
Of course there is value in building up your client base and bringing in new customers, but you should concentrate on your existing customers, your core customers. Why? Well, they are your existing revenue source. They are the people who have got you to where you are. The best way to do this is to show you value them. Establish a little referral program of sorts, or give them loyalty points. So many companies offer rewards to new customers. But it is the loyal ones that deserve these perks. Reward long standing relationships, not new ones that have done little to deserve it. You will see repeat business, and you will see new business come in to get those loyalty rewards.
Adapt And Survive
One of the greatest assets you can hold is your ability to adapt to any sudden changes in the market. This means being able to adapt your product, and your environment. As such, you will want to have the relationships in place to ensure this. Make sure your suppliers can meet any sudden needs you may have, whether that is producing more or less. The same goes for your staff. Become close to a staffing agency, they could become your best ally. In business, we go through peaks and troughs, so being able to upscale your workforce to meet the highs will be beneficial, as will your ability to scale back on outsourced staff when things get tough.
Care About Your Customers
People like raving about good customer experiences, and they will write home about any negative experiences. That is how huge entities like TripAdvisor have excelled in recent years. It is people’s chance to sing and condemn. It gives them power, and the chance to make or break a company. As such, you need to ensure you are focussed on your customer service and that it goes above and beyond. A great way to know where to improve is to make an order or a complaint yourself, and see how your staff deal with it, how they treat you. That will give you a first person view at the whole process from start to finish. If you aren’t happy with something, address it and address it fast. If you are more than pleased then your customers will be too.