As with any business out there, marketing and business development strategies play key roles toward the ventures' success. How can businesses end the financial year and build authority and then make the following year an even more productive one? How can a business attract clients and enjoy the business that they are investing in? How can they free themselves from economic pressure that can show up at any given time?
Starting a business is similar to running a 100-yard dash. Small businesses have to be scaled as well and it is similar to running a cross-country race with the rain pouring down. Most entrepreneurs feel that their hamstring is torn, and they are not able to finish but they still run anyway because they are open and willing to face whatever unknown dips, floods and hills on their path.
In other words, it is very difficult to grow business.
Whether the entrepreneur owns a mom-and-pop shop and they have $100 in the bank or the business has $10 million in funding because it is a startup that has a venture back up, scaling and making it bigger is difficult. This is because there is a sheer amount of decisions required to be made and not a lot of entrepreneurs have the necessary and acquired knowledge in areas of the company, specifically, accounting, PR and HR. There are particular areas of expertise that prompted the individual to start the company in the first place.
If that paragraph seems to be overwhelming when read, think of how overwhelming it is in action.
Self-help books and conferences on leadership all market their consultations by encouraging business owners to grow their product and their social media presence. That is possible, as long as it does not get through the problems of scalability. This does not have to do with financing more often than not because when the right prospects have been reached, then the customers are understood, and the company can keep attracting their top-tier talent.
Here are some ideas to get the wheels turning. Entrepreneurs are advised to not try implementing all of these at once. The best approach is to focus on just a couple of initiatives during the last quarter. By focusing on building momentum and knowing that the growth of a business is a marathon and not a sprint, then the individual is heading toward the right path.
1. Launching podcasts
Podcasting is now a media source. For example, iTunes have one billon subscribers along with hundreds of millions of plays every month. When a business launches a podcast, then they are gearing toward the target market in quite an effective strategy that they can turn to so their potential clients are educated. Podcasts also help in keeping them engaged and building the credibility of the business simultaneously. The key is also to come up with direction along with a theme that also provides the information valuable for the market. The possibilities for podcasts are endless.
2. Hosting events
Creating and hosting events in person for referral sources and potential clients generate enthusiasm and momentum for the practice. There have been clients that take the strategy in different directions. They host informational sessions for individuals and VIP parties and sources. They also organize seminars and invite expert speakers to talk on topics of interests that are appealing for the business owners. By getting creative and finding an angle for the in-person hosting events, then the entrepreneurs can build a community with their consumers.
3. Publishing books
There is arguably no greater tool in establishing the credibility and expertise of the entrepreneur in the area that they are practicing in than publishing books. It can sound overwhelming, but chances are there is a good amount of content created by the team just from the experience accumulated by those involved in the business. If there is a marketing person on the team, then this task should be assigned to the individual. Organizing the content to an outline must be the priority. Afterwards, creating the content needed to fill the holes eventually create the cohesion. There is more work to be done for past and current clients and not a lot of entrepreneurs are aware of this. Once the book is printed, then marketing opportunities are abound. Once the entrepreneur is also a deemed author, he or she has the option to do consultations and then offer this to loyal clients. This can also be considered as door prize at events. It is quite a powerful tool which enhances credibility and build the brand as an authority in the niche.
Speaking positions, the entrepreneur as an authority and expert and is also a great way to attract clients. By looking for opportunities to speak in front of a target market, whether it is a seminar, conference, trade association or networking group, speaking is good for a business. Looking for opportunities in educating audience and build expertise can also include presentations on changing regulations and law that have an impact in the industry along with the strategies and tips in the selected market. This can also be the best practice in avoiding legal disputes. It can also be a target for speaking opportunities that are strategies in a sensical manner. Opportunities can also reach potential clients in various ways which enhances the expertise and the position in the marketplace. There are also countless examples that are provided to speakers.
Hopefully, these strategies have gleaned a couple of good ideas that can work for the firm. It is more important and realistic about it. Entrepreneurs are advised to not bite more than they can chew. The best approach is to just identify a couple of initiatives that are most feasible for their business, invest in these and then when pulled off, try the other ones. Track results so that each approach is accounted for.
5. Establishing strong identity and purpose
The ethnic and cultural identity that the company represents is a great asset. Business owners must amplify this toward a competitive advantage. A strong identity can also reflect the appreciation of the value and the uniqueness of the company. Strong identity grounds you and also defines the purpose for the functionality of the company and give the entrepreneurs the self-confidence necessary in choosing their own path instead of following society.
6. Obtaining broad exposure
When they seek out the various perspectives, experiences, people and places that bring forth healthy level of discomfort, it means that they are moving beyond their comfort zone and also expanding their worldview along with the various sense of possibilities. This then contribute on how they can build beyond and at the same time construct the identity so that they can define their purpose which enable the business to grow and develop.
7. Demonstrating excellence
Being good at what the business offers is not enough. The individual must also be excellent. When achieving the excellence and combining the passion and gifts of the entrepreneur partnered alongside the discipline (which is pretty much the hard work, effort and time put forth) and the beliefs (translation of thoughts in actions and outcomes that are empowering), then the business is on the way to flourishing.
10. Finding strength in numbers
By surrounding one's self with people sharing perspectives, affirming values and supporting goals, an inner circle is cultivated, and members are more comfortable with each other. They can watch out for each other because there is trust. It is important to be compatible with each and every one. By getting involved in collaborative organizations, the networking circle is broadened.
11. Thinking and acting entrepreneurially
Applying an entrepreneurial mindset within established organizations can affect the institutional change. Maintaining strong sense of work and self-determination in the system can also make quite a big impact.
12. Thinking and acting entrepreneurially
One must take control over one's career by daring to be in the driver's seat. Entrepreneurs position themselves in pursuit of economic prosperity. These entrepreneurial mindset of creativity, passion, resourcefulness, resilience and courage is mandatory for the success that is evident in the twenty-first century. Working outside the system in order to build wealth can also be applied for the entrepreneur as well as the community.
13. Synergizing and reaching the scale
In order to redefine the game, the entrepreneur must create beneficial and mutual connections between the organizations and the people in order to fulfill the collective purpose. This will then amplify the collaborative actions that can make the broadest and deepest possible impact that also levels the playing field for everyone involved.
14. Giving back generously
Everyone in the business represents a continuation of various legacies and anyone can be a trailblazer. One survives by helping each other because of the empowerment and self-determination in the community. Addressing the challenges of the business can also leverage the combined efforts of the organizations and the business to reach as many as possible.
16. Leveraging Financial Services for technology purchasing and financing
Most offices are powered by technology. In fact, a fully functioning office thrives because of this. Companies know that there should be a streamlined approach when purchasing the equipment that they scale. The communication is then freed up and it is easier to convey the information towards financing. When this is automated, then entrepreneurs are relieved of a huge burden because the legwork is completed, and they can just focus on the things that are directly related to the flourishing of the business.
Once these strategies are applied, the entrepreneur must collect the feedback of the employee. Whether these measures are put into place to empower the continued learning of the employee or to build the development program, there is a key step in taking the solicitation of the employees' feedback. This also ensures that you are offering employees in training and developing the resources that are needed to improve the business.
The entrepreneur must then consider sending survey to employees in setting the internal focus groups so that feedback can be shared about what can be currently taken in place. What the business is missing and what can be improved will be achieved through continues learning. Employees are also to be asked on how they can be helped especially during their busy schedules.
Every employee, whether they are part of the executive team or are entry-level, must strive in continuing educating themselves because this also increases the profitability, productivity and engagement of the business with the market. With satisfied employees, a business can boom because it makes it easier for them to stay committed and loyal to the said business and allow the company to grow even further.