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Personal Finance

How to scale up business with minimal resources

 

Slow economy? Few customers? No demand for your products? That’s probably because you’re making a few mistakes that are impacting your growth. Sometimes it’s even the inadvertent or indirect mistakes that accumulate over time and discourage customers from coming to you.

Below are a few pointers to help you avoid those mistakes reach your potential.

GO DIGITAL

Get a website! Doing this will make you international. People from around the world and most importantly your local market will be able to find you easily by simply googling you. You should also register your business at ‘Google My Business’. It’s free and your exposure will vastly increase! By doing this, anyone that googles your business will get all the information about you instantly. For instance; your store operating time, location, phone number and a link to your website.

Secondly, create a Facebook and Instagram page and post photos about what you have to offer. This way customers will know all that you offer in the comfort of their home, giving them a better experience. Having a social media presence will immensely increase your reach too. Advertising on social media is fairly inexpensive and can be targeted more appropriately.

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CUSTOMER SERVICE

This is the most crucial aspect of any business. How many times have you stepped in a store and the employee stands up, welcomes you and asks if he could be of any assistance? We all want this kind. This intangible service that doesn’t cost you a dime but will greatly increase the rating and satisfaction of your customers. When they get a good service, they will always return even if you are a little pricier because they know they can count on your service.

AFTER SALE SERVICE

This is subsequent to the ‘in store service’. If you have sold the customer an item, following up with them days or a week later to check if everything was okay is the best thing you could do to uplift your business. A satisfied customer will promote your business and give you a good review. The best form of advertisement is a satisfied customer.

EXORBITANT AMOUNTS

Remember the time you got ripped for something pretty cheap and then vowed never to return? Some businesses tend to price their items according to race, class and wealth. Besides the implications on poor morals, ethics and standards they lose potential customers who could have given them repeat business.

As a businessman price your item fairly and in line with the competition. Don’t get excited, give them the exemplary service and charge them the normal price. They will definitely come back

NO SIGNAGE

Your poor signage is definitely a huge reason you’re not receiving the business you’d like. If you’re a retail store with just your shop name painted on the wall you’re not doing enough. Any and every business out there has simply done the same. You need to figure out how you will be different and stand out from the crowd so you can attract customers. Several businesses these days are putting LED signage which is even visible at night. With LED signage you’re getting free advertisement 24 hours a day plus, you’re also showing the potential customer your distinction from the competition.

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