Avoid the business development rut by following these simple steps
Starting your own business is a huge venture filled with excitement and a fair bit of trepidation. Many people decide that they want to start small, working from their home or out of the garage. They are turning a hobby or passion into a company that pays real money and brings them a level of satisfaction that nothing else seems to provide. However, there will come a time when you realize that your business is stuck in second gear. Sure, you have your own business, but it's not growing.
Here are 4 ways to get your business out of the garage.
1. Sustainable Processes and Systems
The processes and systems are some of the most important elements for any business that hopes to thrive in today's world. You have to develop workable and sustainable processes that for all aspects of the business from accounting to sales, hiring and beyond. When you want to expand, you also need to realize that you will not be able to do it all on your own. You need to bring more people aboard, and you need to learn how to delegate. When you have the right systems and documentation in place, it becomes easier to bring others onto the team and get them started quickly.
Always make sure you are working on your business rather than just in your business. Take the time to create strategies, execute plans and continue to drive the company forward. Remember, it is no longer a hobby or a job it's a company.
2. Build Relationships in the Field
There's a saying that it's not what you know but who you know, and it is entirely true. Start making connections with others who are in the field. If you are a soap maker, for example, connect with others who are doing the same thing or who are in the arts and crafts field. If you are making apps for phones, do the same thing. Go to conventions, meet and exchange business cards. If you want opportunity to come knocking, then you need to make sure it knows where you live!
When you develop relationships in the field, you may also find that others are willing to invest, or they might want to go into a partnership with you. This can help to grow your business in some amazing ways.
3. Look for Inspiration
What are others in your field doing? What did they do to grow their business? You don't have to follow in their footsteps exactly, but if you can see the course of action they've taken and you can do something similar. Look at the type of marketing they are doing, the places they are selling, and how they are interacting with their customers on social media. Keep in mind that you don’t always have to look to your own field for inspiration and ideas. Look at what other successful businesses are doing and emulate them in your own way.
4. Become a Business Opportunity for Others
If you really want to grow, and you feel you are on the verge of breaking out, you might want to create your own mini franchise. Consider letting others create and sell your product or offer your service, but charge them a franchise fee for doing so. You can provide them with branding and marketing, which will help to grow both your business and theirs. For example, if you have a small pest control business, you can expand to neighboring towns by allowing someone in that town to work under your umbrella. They are the owner of their franchise, but you still own the company.
These are just a few of the different things you can do to help your business get out of the garage and into the bright and shiny world, contact us today to learn more. Now get out there and make it happen!