5 Standard Principles to Grow Your Business

While starting a business can be fairly easy, it’s much harder for owners to grow and scale. Some owners can be in business for so many years and never see any increase in sales. Owners who take risks to make significant changes could see growth in a matter of months.

The key to growth is to practice the standard principles that will keep your business active and efficient. Embrace the idea of changing old mannerisms. Be open to new opportunities and ideas. Here are 5 principles you can do to help grow and scale your business:

1. Give your customers an excellent experience
Keeping customers you already have is more cheaper than acquiring new ones. You can really set your business apart by providing customers with an amazing experience. Buying a product or service is often tied to an emotional decision. So if you strive to make your customers feel valued and not regretful, they will most likely refer you to others.

2. Network and build your email list
With email, you can send a personable or targeted message. You can send loyal customers promotional discounts. Emailing subscribers also tend to be more in tuned with your company than your typical social media channels. To boost your email list quickly, try giving something enticing or free. For instance a discount, e-book, or a contest to win something. Everyone loves the word “FREE!”.

3. Create realistic goals
It’s hard to obtain a goal if you’ve never really set one, so realistic goal-setting should be #1 on your list of priorities. When thinking of goals, follow the “MARS” method, where your goals are measured, achievable, relevant, and specific.

4. Find new opportunities in your industry
Your customers already look to you for guidance. What If you can expand and offer something else they need or want? They’re likely to buy that from you too. Always look for something new that will make your customers’ lives better and easier, or even both.

5. Work on managing time efficiently
Small businesses stay small because there is not enough time and delegation happening. Business owners usually wear too many hats. There will always be something to do and errands to run. if you don’t delegate your time correctly, you will most likely become distracted, lose steam and miss out on some business opportunities.

Practicing these 5 principles won’t change your business overnight, but it will set you up to succeed, scale and grow your business for the long haul!

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