Our top tips to grow your business in 2022.
What are your business objectives and goals? Take the first step to grow your business with the SMART method. Make your goals Smart, Measurable, Achievable, Relevant, and Timely. Start small but stay focused.
Know your customers
If you don’t know your ideal customer, how are you going to sell to them? Research your ideal audience. Know them inside out. Create ‘buyer personas’ of your dream customer.
Consider their background, demographics, and their goals. What are their challenges? Where do they spend time online? What are their interests and what technology do they use?
Complete a strategy review at least every three months. Change your strategy if needed but always have your goals in mind.
Keep an eye on your competitors. Visit their website, sign up for newsletters and follow their social media channels. What they are doing can help to inform your decisions. Keep ahead of industry changes as this will keep you ahead of the competition.
Many businesses still use traditional print, flyers, and PR. Most now use digital marketing. Digital advertising such as Google ads or social media marketing can take your business to the next level.
Build an Email list
Create an email list of contacts from your marketing efforts. You can use this for future email marketing campaigns or newsletters. It is essentially a list of people who want to buy from you.
Nurture customer and supplier relationships. The pandemic has halted many face-to-face meetings but it is not an excuse to take the foot off the pedal. Telephone or video calls can keep the relationship alive.
Keep on top of payments. Invoice on time and have a late payment system in place. It’s common for service companies to invoice in advance of work. If you don’t do this already now is the time to start.
Consider leasing assets rather than buying outright. You can lease IT equipment or company vehicles. This means you pay in smaller instalments rather than a lump sum. HMRC classes some lease payments as business expenses. This means you can reclaim some of the VAT.
Many businesses have taken advantage of financial support allowing their business to grow. It is an excellent way to grow your business. Taking out a business loan allows you to expand or grow your business, freeing up cash flow to invest in other areas of the business.
V4B Business Finance
For information on alternative finance for your business, contact us for a FREE business consultation:
Call 01978 668939