Getting Back to the Basics-Growing Your Business with Passion

In tough times, the determined frenzy to succeed is even more important to ensure growth and is generally what separates those flailing to stay alive from those swimming in sweet black on the P&L at the end of the quarter. Growth in these times is not for the feint-hearted. Even now, there are ways to grow your business with marketing strategies, employee training and smart spending. Through research and experience, we have compiled five ways to stimulate growth for any size company:

1. Make a list of why you started your business and how those reasons make you different. Having to work harder for the sale makes you re-evaluate a little bit, doesn’t it? It forces you to really think, “Why should this prospect choose me over my competitor?” If you haven’t had to think about it in a while, you find yourself digging a little deeper to present a persuasive proposition. 2009 will force us all to move a little faster for the sale, which, in our honest opinion, isn’t all bad. You are forced to get back to your roots to rediscover what made you all dreamy-eyed and heck-bent on starting your company in the first place. What should come out of this Dear Diary experience are your unique selling propositions – those things you thought you could offer better than anyone else. Convert those unique qualities of your company into active selling propositions to close prospects.

2. Don’t stop your marketing effort, but market smarter. Marketing less this year than you have in past years will be detrimental to your growth. While competitors are cutting back, snap up new market share by keeping your company’s name in the eyes of the consumer. Evaluate the mediums you are currently using and explore options of more cost-effective channels. If your company has done bi-monthly static postcard mailings for the last few years, consider doing a quarterly personalized variable data mailing. Your postage savings alone will pay for the variable data postcards and your mailing will be more targeted, evoking a better ROI.

3. Focus on the 20 that produce 80. When times are unsure, it is best to look at where your current sales are coming from before looking for new business in an unknown market. Make a list of your most profitable customers and the services they are using. Then ask if there is anything else you could be selling them. Find ways to sell your current clients all the services/products in your arsenal and communicate with them often. Make the most of those whose hearts you have already won over, then search for qualified leads that mirror your most profitable clients.

4. Train employees to better perform their job. Investing in your own employees is a great way to grow your business. Training your employees helps them to become more productive on the job, as well as to increase job confidence. Job-confident employees are not only happier, but they also tend to have greater workplace longevity. Not only do you have cross-trained employees, but you reduce turnover and save the significant expense of hiring and training new ones.

5. Stay on top of emerging trends. It is important to always know the changes and innovations happening in your particular market and industry. Attend trade shows and read trade magazines and local market business publications. Being the first business to offer a new service gives you a step up in the industry, and who doesn’t like to be the market leader for a particular product or service?