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7/11/2015
4 Simple Tips to Help Grow Your Business
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7/11/2015


4 Simple Tips to Help Grow Your Business

As a small business owner, you’re always looking for ways to grow your business and increase profits.  Some of our previous articles can help you strategize cash flow management, dealing with seasonality, and marketing on the Internet – all of these are external factors that affect profitability.  But what about focusing on the core strategy of your business?  These 4 simple tips will help you develop your business into a profitable, scalable business with a limited investment.

1. Find a support system

Being a small business owner can be tough, and at times it may feel like you’re on your own when it comes to growing your business.  This isn’t the case, and its important to realize there’s many opportunities to find support from employees, partners, family members, and small business communities.  Visit https://www.sba.gov/ to find a small business development center in you local area.  These organizations host events, meet ups, and offer some invaluable support at no cost.

2. Identify your problems and solve them

This sounds simple, and it is.  All too often small business owners go down the same path and make the same mistakes.  What are your weaknesses and shortcomings, is it micro management, poor planning, or a lack of a vision for marketing?  Find and address these issues head on and over time you’ll see a real increase in your bottom line.

3.  Find and keep talent

Finding a support system outside of your business like the SBA is great, but it starts with your employees.  A good rule for any business, big or small is to find great talent and keep it.  A great start is to hire interns – student interns are not just a source of cheap work, but can offer a fresh outlook, and a potential future employee.  Not looking for interns?  Identify your best employees and make sure they’re happy – you’re business will benefit from it. 

4.  Adopt a startup mentality

When growing a small business, things change.  As a small business owner, you must adapt to these changes to survive and drive profitability.  Don’t get stuck in your ways – be open to new ideas and willing to make changes that might shake things up.  Constant iteration of your overall small business strategy will get your closer to your ultimate goal – increasing cash flow and growing your small business.

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