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Struggling to Grow Your New Business? Here is Where You Could Be Going Wrong

As we jump from crisis to crisis in the UK, there’s little doubt that we have always leaned heavily on small and medium-sized businesses to keep us afloat in turbulent times. But sometimes businesses can hit something of a lull in terms of growth, or rather a lack thereof.

This should be no reason to hit the panic button. After all, we tell our children that slow and steady wins the race based on the fables we read them. Other timeless sayings like ‘softly catchy monkey’ and ‘it’s a marathon, not a sprint also exist for a good reason. There are ways for you to grow your business that you perhaps haven’t thought of yet.

So, what strategies can you use to help grow your small business into something more? Let’s find out.

Perseverance is Key

There will be days in which you wonder why you’ve started a business, but for you to have had the wherewithal to start one in the first place is considerably more than so many others have managed. So hold onto that can-do attitude, even if it feels impossible to do so at times.

Take a second to step back and look at the whole picture from a grander perspective – things may not be anywhere near as you’re imagining. Humans have a tendency to catastrophize at the drop of a hat, and on looking at the wider picture, you may be surprised at just how well some aspects of your business are going.

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At the end of 2021, Forbes recommended being consistent in its new year tips for starter businesses, and that very much is the key to growth. If you’ve tried something that worked – do it again. See if it works on a consistent basis. The same can be true of the opposite – if something is unsuccessful the first time, try again until you’re certain that it’s a case of barking up the wrong tree.

Schedule and Delegate

We perhaps don’t think of the word schedule as a verb as much as we should, when in fact, scheduling is the most crucial component of any business. Not to mention delegating work to the right areas. You may need to hire more staff, which is undoubtedly a risk for any small business. But you have to think of the long-term investment in staff that will ultimately pay dividends to ensure your business is a success.

You don’t necessarily need a sizable team, but it’s unlikely that you can handle absolutely everything on your own. Instead, build a sales funnel so that you can automate sales processes, subsequently allowing for potential growth. You may even want to build an accompanying customer management system.

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Take, for instance, the Clear Start Programme, which helps start-up businesses build upon a platform, assisting in areas like market research, social activity, and so much more in between and beyond.

When you’ve mastered the automation processes, maybe look into offering a customer rewards system. You may be surprised how well rewarding loyalty can work in the longer term. Customer retention also costs your business considerably less than customer acquisition, which could certainly be something for you to keep in mind when looking to grow your business to new heights.

Jeremy Edwards
Jeremy Edwards
On Chain Analysis Data Engineer. Lives in sunny Perth, Australia. Investing and writing about Crypto since 2014.

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