In many cases, starting a business is the easy part, especially now that so many small and micro businesses start out as a side hustle from home, building up slowly over time, using the internet and free or low-cost online tools to develop and advertise. It’s growing and sustaining a business that is typically the problem. This growth is essential if you want to see a return on your investments and is perhaps going to be harder than ever in 2020 as the world feels the economic effects of a global pandemic.
The harsh truth is that countless businesses, both big and small, will struggle to survive this year, and with the uncertainty still surrounding us over what might come next, it’s going to be tough. So, let’s take a look at some of the ways to grow a business in 2020.
Market research has never been more important. Learn as much as you can about your audience. Who they are, how old they are, whether they are male or female, what they do for a living, where they spend their free time, what they do online and where else they spend their money. This knowledge will help you to target your campaigns, aiming them at the right people, instead of wasting time and money on a wider approach.
Get to Know Your Business
Every time you speak about your business, whether it’s a big presentation, a sales pitch, or you are speaking to your next-door neighbor, you are selling it, whether you know it or not.
So, do it well. Make sure you know your business out, that you can answer any questions that people might have, and that you can speak with confidence.
Market the Business That You’ve Got
You might choose to get help with your advertising campaigns and marketing. This can be a great idea. But, it’s often best to avoid generic marketers, instead opting for someone like Elite Lawyer Management, who specialize in a particular field.
Start a Blog
Content marketing is huge. The first thing that any of us do when we want to find out how to do something is Google it. Starting a blog gives you another chance to talk about your business, as well as a chance to come on top of the SERPS when someone has a question relating to your products or services.
Create a Small Business Mentality
The ways that we shop have had to change this year. While it’s true that more of us have been making the most of our Amazon Prime memberships for convenience, we’re also keen to support local businesses in a time of crisis.
Give your company a small business feel by building relationships with customers, spending time in your local community, and working with other businesses in your area. A local business feel can be beneficial, even if it isn’t strictly true.
Pivot if You Need To
Your business may not work in the new world. It might be struggling; you might not be able to see a way forward; it might not even suit your own needs or values, any longer. When this happens, don’t be afraid to pivot to something new. Rebrand, change your style of business or even offer something totally different. It’s better to make changes than to try and cling on to a business that doesn’t work.