Growing a business can be challenging, especially when everyone has different opinions about what to do. This year, I’m cutting through some of the weeds to help you make decisions about your business growth, content strategy, online marketing and more. Each month, I’ll be featuring experts who I know and trust to help you make informed decisions about business.
This month, I asked a group of experts:
What’s your top tip for strategically growing a business?
Here’s what they had to say!
Becky Mollencamp, business mentor
The single most important element of my business growth, without question, has been my mastermind group. It helped me eliminate my “shiny penny syndrome” and develop a strategy. While paid masterminds a great, if you can’t afford one I recommend starting your own peer-led group for free. This is what I did in my town with four other women business owners. We’ve been meeting weekly for more than 2 years, helping each other brainstorm and focus, and providing accountability to make sure we each crush our goals. Combining the brainpower of several smart entrepreneurs can help you achieve more and faster growth for your business than you ever thought possible.
Sarah Walton, kick-ass business mentor & speaker and creator of Sara’s Business Accelerator and The Money Mindset Course
Stop focusing on the things that don’t make you money. Your prospects don’t care what your colors are, or what your branding words are or what your logo looks like. They want to know if you can help them, and they’ll always remember how you make them FEEL. Focus on that. I promise you that the second you start focusing on who you’re ideal client is, how you can help them and where you can reach them, your business will explode.
Nevica Vazquez, business strategist for digital bosses
1. Increase the number of customers
2. Increase the average transaction (how much money people pay when they buy)
3. Increase the number of transactions per customer (how many times one person buys)
Thinking in this way makes growing your business much more simple! So when you know you’re ready to take your business to the next level and increase revenue – think about these three paths and decide which one would be the best for you to take! –
Erin Ollila, content strategist
Here’s the thing about wanting to grow a business: so many of us want the quick fix, right? We follow the gurus who tell us how to make our first sale overnight and how to get rich quick. But what you really need are the basics. Do you have a written business plan yet? Have you chosen a business entity (like S-Corp or LLC) and filed for it? Do you pay quarterly taxes? These are all key steps into getting your business off the ground. However, there’s one more thing to consider. YOU need to treat your business like a business, and not a side gig or a freelance hustle. Start calling yourself a CEO or founder. Tell all your friends and family about your business. Not your “project” or your “extra work.” Once you start playing the role of a business owner, you’ll begin to notice the change in other places…like your bank account.
Want more insight from business experts? Watch my video of these and other experts in business growth!