And so, you’ve finally decided to go ahead and take that risk of starting your business.
Perhaps it’s been months or even years since you’ve ruminated over selling that product or providing that service. And today, here you are, just beginning to enjoy the profits and the new experiences and insights that came out of your risk-taking.
Well, this might be the very time to already start considering growing your business. While a grown and growing business would mean increased profit on your part, it would also mean you are serving well what has been needed by people. It could also mean that you would be hiring more people, you are in effect helping others earn their keep.
Now what should you consider should you go ahead and grow your business?
Four things come to my mind:
- Know your customers better. You may think that you already know well your market or your customers. Think again. Don’t stop there. Keep track of their preferences, the specific items or services they need most from you. Take a step more and find a way to ask them what other services or items they might also need from you. And when you know those services and items, you can offer them as well. In short, gather data from your customer. Take time to learn about data management, too. Better yet, specifically seek out what can be master data management best practices.
- Make sure you hire the right people. You need staff who can fill up your weakness. This means do not always rush into hiring people who think and reason like you do, who is that similar to you. You need someone in your team who can see things differently than you. These people could be the key in further improving and growing your business. Also, when you hire the right person, you will spare yourself from the “drama” of constant arguments or petty quarrels. Hiring the right people also means going after people who share the same values as you or your company. Values like honesty and integrity are very important especially in the area of business.
- Get out of your comfort zone every now and then. A lot of times fresh ideas and inspiration come to us when we take a break from our routines. Whenever possible, travel. Just by travelling to another city, town or state can already help expand your view of the way things are, how things are. Don’t forget to welcome international travel as well.
During these trips, you might be able to get hold of a product or receive a service that could be offered in your business as well. Travelling helps us expand our view beyond what is common and perfunctory in our lives. It just helps us see more, experience more. Those experiences can be very valuable as you grow your business.
- Be curious, inquisitive. As a business person nurture a mind that is curious and inquisitive. Learn as much as you can. Your fresh insights and learnings will benefit not just your business but you as well and the people working with you.
These are but just 4 tips that could be helpful in your journey as an entrepreneur. There can be more out there.
May you continue forward in the path of business success.