In 2013, small business owners will be faced with difficult decisions, specifically ones surrounding health care reform and the Fiscal Cliff resolution, but this is not the time for your business to stagnate. Below you will find some tips on how to grow your business in the new year.
- Set goals. Without specific goals, how will you push yourself and your employees to work to grow the business and its impact? For a startup clothing boutique, perhaps a goal would be increase sales by 30% from 2012 to 2013. Additionally, incentivizing employees year-round, rather than simply for the annual bonus, through monthly or quarterly bonuses if the employee reaches a particular sales goal helps to keep the company on track to meet annual goals.
- Try new strategies, and tap into employees for their ideas. This is particularly important for companies that have been around for a few decades and are/or ones that are struggling to keep up with the technological advances. That said, new strategies can help to keep a company from becoming irrelevant.
- Sell value, not just material goods. Values can be convenience, quality, cleanliness, and they are not always tied to cost. Customers may actually be willing to pay more for this added value.
- Measure the success of sales/marketing strategies. This will help you to know which strategies to keep in your marketing toolkit.
Best of luck in 2013!
Content contributed by Meredith Soniat, Metro NOLA Sourcelink. Metro NOLA Sourcelink is a proud affiliate of U.S. SourceLink, America’s largest resource network for entrepreneurs.