Written by Jason Lewis Guest Author
New business owners have a dream of owning a successful business that grows quickly. Not only are they putting all of their energy and time into their new venture, but they also put quite a bit of money into their business. They need the business to get off the ground as quickly as possible so they can make ends meet for their personal finances in addition to their business finances. While there is not one standard procedure for rapidly growing a new business, there are a few steps new business owners can take to become more successful more quickly.
1. Find Your Niche Market
Sometimes, new business owners try to expand too much or diversify too much right off the bat. The result is they stretch themselves and their funds far too thin and instead of getting off the ground, they go right into it. If you want to find your niche market to get off the ground quickly, begin by changing your thinking about the market. There aren’t really any unknown or new markets; they are just new to you. A niche is something you must create, rather than find, according to Lynda Falkenstein, author of Nichecraft: Using Your Specialness to Focus Your Business, Corner Your Market and Make Customers Seek You Out. She advises following a seven-step process:
2. Focus on Customer Experience
While you may not have ample funds to put into advertising your new business, you can deliver an exceptional customer service to impress your core customer base. In turn, these pleased customers will tell others about your business and share their praise of you on social media. On the other hand, if you provide a less-than-stellar customer experience, these people will discuss that on social media and do irreparable harm to your reputation.
Mike DeHetre, VP of product development at Travelers, explains the value of delivering a superior customer experience for new business owners: “Compared with large companies, small businesses are nimble and often better able to see, anticipate, and respond to their customers’ needs. The most successful small businesses exploit this advantage by bringing new and innovative products and services to market more quickly and developing and nurturing long-term customer relationships.” The key is to listen to customers and give them what they want; it’s also crucial for new business owners to engage with their audience and personalize the experience to boost and strengthen relationships.
3. Create a Website
New business owners need to have a presence online if they are going to help customers discover them. In fact, Vistaprint’s research shows that the number of customers who discover small businesses online nearly equals those who find it through word-of-mouth. The good news is, you don’t need to know how to code or have a website development degree to make a website for your new business. There are several online companies that offer website builders designed specifically for business owners.
You’ll just need a domain name, a business logo, a business tagline, photos of your products, and staff bios and pictures to create your business website. Better yet, many of these website builders are inexpensive and have a much better return on investment than advertising in a local newspaper or on a local radio station.
If you are a new or up-and-coming business owner, you want to make ends meet while getting your business off the ground as quickly as possible. To become successful, you should find your niche market, focus on customer experience, and create a business website.
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About the AuthorJason Lewis writes for StrongWell and enjoys creating fitness programs that cater to the needs of people over 65.
About the Author
Steve Smith is President and Founder of GrowthSource Coaching headquartered in Lake Forest, CA. He is an accomplished leadership, management and organizational enhancement coach who brings over 40 years of business building experience to every client relationship.