Episode A2.007 5 Steps to Grow your Business & generate more money

IBGR - RESULTS Radio Network. Everything a business owner needs to start, grow or exit a business. Come grow with us.

Introduction

The 5 steps to grow your business and generate more money. 

First question is why do you want to or need to grow your business? Once you have answered that question with full honesty then proceed to put more effort and look at other ways to grow your business and generate more money. 

First is to manage your current startup well and once you have full control and business is running smoothly then you delve into the growth aspect.

Show Objectives
After our time together you will find many new ways, some you may already be employing and some you may not even have thought about. 

Once you have gone over all these see what relate best to you and your business and then start implementing them in order you can given the size of your business, number of staff or employees you may have, the resources you have that you can expend now… so lots of variables and as every business is different you need to pick and choose what you want to focus on and what can bring the best value to your business and your customer. 


Key Issues

1. Leverage Social Media and we will go into the depth of how to work with the social media and other pertinent details. 
2. Build your Tribe - It is how you continue to engage your audience and have them to become lifelong raving fans and your brand advocates.
3. Niche Audience - How well do you know your customer 

E.g. Gender, Age, Location, Interests, Lifestyle, your competitors

1. Create Strategic Alliances - What services can you complement each other and 
2. Focus on the Few and Outsource rest or delegate if you have resources.

What You Need to Do
It is not about doing 3000 different things, but doing a few things 3000 times. 

Go through these issues step by step and see what is working for you and what not. 
According to a Wharton business school study in 2017 about Social Is the New Financial: How startup Social Media Activity Influences Funding Outcomes - Social Media, social media popularity can demonstrate a startups ability to build its brand, integrate consumer feedback and attract specific customer groups. 

Don’t make Assumptions - Test Test Test - Fail but learn from it - Listen to your audience and the market

Master 3 things - Marketing, Management & Sales

Spend at least 1 hour every single week to improve upon the business. Work on your business not just in your business. 


Shows
Previous: Episode A2.006 Customer Acquisition & Related Costs
Next: Episode A2.008 Cashflow

Written by Raj Kapur

​