Tag: growth-strategies

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Startup Strategy

5 Powerful Growth Strategies To Grow Startups

5 Powerful Growth Strategies to grow startups
5 Powerful Growth Strategies to grow startups

Scaling and expanding your business is some different ball game. It is extremely difficult, but having your own startup business is all worth the pain. Being an entrepreneur initially means wearing multiple hats, sometimes all at the same time. At the end of the day, this tiring process will drain all your energy. However, if you want to scale and grow your business, there is still light at the end of the tunnel.

So what is that one thing that can help you sustain your startup business in the market for a longer duration? The only answer to this question is by creating a growth strategy. If you want to be a successful entrepreneur then having a growth strategy is paramount. Having just a profitable business is not an achievement and is not sufficed to continue it for long.

Though, there are many existing startup strategies, here is a list of 5 strategies that will add fuel to the fire and grow your business:

1. Stay Unique

There must be plenty of other business owners selling the same product as yours. Then why a customer should buy your product? Creating a unique experience for customers is necessary in the business world.

How your product will solve the burning challenges of the consumer in the market will make the ultimate difference. Sell the benefits and not features. Tell your target customer how their life will be changed after they will purchase your product. Consumers want to know the stories behind your product, and not about your product.

2. Identify your Niche Market

You want to start a business with a certain product or a service because you saw an opportunity to make a profit from it. You might have also identified the type of audience. But are you sure that your target audience will be your ideal customer? If yes, where are you going to find this audience? Where is your potential customer and who is it?

Well, make a list of your ideal customer and then make a network through which you can let them try your product or services. You can take their feedback to determine if they are your potential customers.

3. Analyze Your Competition

“Keep your friends close, and your enemies closer”. Knowing about your competitors is necessary to stay ahead. Hence, do a market analysis and research about your competitors. Find out their key selling points and build a strategy that will work for your product. This is an excellent growth hack for small business owners who are in the early stages.

4. Review Business Model

It is very important for entrepreneurs to make a dedicated section in their business model to check if they are achieving your goals and assumptions. It is very important to review your goals and analyze if your business has made any progress or not? Always make a revised business model. If you think that they are becoming outdated, update, and upgrade them.

Employee training is another thing that you must conduct on a regular basis. Keeping your employees upskilled and upgraded with the trending technology and skills will help you to achieve your organizational goals. You can hire the best corporate trainer to bring in a new perspective and strategies in your company.

5. Update & Upgrade Marketing Strategies

In this digital age, creating a marketing strategy that is tailor-fit for your brand is a little tricky. But, if done properly, it can fetch more customers and boost sales. Small business owners can deploy creative growth hacks to pull more customers to their platforms by email marketing, product recommendations, visually appealing ad creative, and identifying high lifetime value (LTV).

Most of the business growth hacks state with a simple idea that emerged in the conversations. These growth hacks, if implemented quickly, can be quite effective for small business owners. A planned approach is necessary to scale these experiments.

Categories
Startup

Top 7 Growth Strategies To Expand Your Startup Business In 2021

Top 7 Growth Strategies To Expand Your Startup Business In 2021
Top 7 Growth Strategies To Expand Your Startup Business In 2021

Thanks to vaccination that is taking place worldwide, the global pandemic might soon be winding down. Small businesses that were hampered due to the imposed lockdowns are preparing themselves to go back to their ‘normal’ pre-pandemic operations.

But, what if you have been sitting on your hands throughout the pandemic and have decided to start working on a startup business ideas now?

Well, restrictions are being lifted, companies are making major transitions in their operations and consumers are re-discovering the world again.

In such a thriving and growing scenario, it might as plain genius to ask “what are the top seven opportunities available right now to scale and grow your startup business?” “What are the best growth strategies that a business motivational speaker would have given you if you have hired one?

Here is a list of the top Seven Post Pandemic Growth Strategies:

1. Curate a Pandemic-proof Offer 

  • Focus on personal branding as well as establishing your brand online with authority and status.
  • Make full use of Content Marketing for a strong digital brand presence.
  • Share a story that is associated with your brand and articulates your product experience with testimonials as social proof.
  • Virtualize, digitalize and dematerialize.
  • Use social media channels to reach out to your niche audience.

2. Get Deep, Expensive & Narrow

  • Networking is crucial for business! Build deep and meaningful relationships with potential investors, clients, and customers.
  • Widen your reach of audience and break the geographical constraints.
  • Find out creative ways to burn customer`s problems.

3. Use Podcasts & Create Content Rapidly

  • Start your podcasts to create a brand value.
  • If you don`t want to start on your own, get on podcasts where your ideal clients will certainly hear you.
  • Why Podcasts? These are the fastest and easiest way to get SEO.

4. Strengthen your SEO Game

  • If your business is not ranking on Google immediately, you are doing a huge disfavor to your business.
  • Start working on your SEO game with disciplined and quality content creation.
  • Use content marketing to generate qualified leads and credibility.
  • To earn credibility as an entrepreneur in the market, you can either interview or get interviewed by experts related to your industry on podcasts, social media platforms, or blogs.

5. Email Marketing is Still Alive & Flourishing

  • If you are an entrepreneur who is looking to make some strong connections, Email Marketing can be your best bet.
  • Not only for connection building, but it can also lead to sales generation.
  • Facebook, Google, Instagram, and other major platforms can delist or remove you at any given time. But through email marketing, you can drive traffic back to your website and build a list.
  • Invest in a cold email.

6. Embrace Virtual Reality

  • Since the pandemic struck, our real world has been merged with the virtual one. So why not accept the fact and think about growing business around it?
  • If you are a business coach, you can deliver business motivation events through a webinar.
  • Think about the constructive usage of VR and combine it with your business interests. 

7. Create a ‘WOW’ Customer Experience

  • As the world is slowly reclaiming its normalcy, give your customers an unforgettable customer experience.
  • Retain the old customers, while reaching out to the potential ones.
  • Blend emotions into your marketing strategies to give your customers a sense of belongingness.
  • Don`t just sell, create an experience.

The key to achieving success despite the challenging times requires incredible storytelling, sending out a clear message to a higher-end audience, and how amazing your customer feels post purchasing your product or service.

Don`t focus on the transaction, it’s the transformation that sells.

Use the above growth strategies to expand and grow your business in the post-pandemic world and let us know how did they work?

If you are an entrepreneur and looking to find solutions for your burning problems then you can get practical solutions easily with our step-by-step learning strategies, action plan, frameworks that are designed to empower you with various business functions.

From finance to HR, Digital Marketing to IT & Sales, you can find creative solutions to prominent business problems easily with our ‘Problem Solving Courses’. Find tools meant for rising stars just like you – apps and services that let you manage many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.

Categories
Business motivation

Being a Solopreneur: 5 Business Tools to Grow your Business

tools to grow your business

India has shown a great appetite for innovative ideas, small businesses, data, technology, and the internet. According to the Economic Survey for 2019-2020 that refers to the data from the World Bank, ‘the number of new firms in the formal sector has seen growth by a significant 12.2% from 2014 to 2018.’

“Around 70,000 new firms are created in 2014, the number has increased to 1, 24,000 new firms in 2018, which is around 80 percent growth,” the survey read.

So how can you grow your business in such a competitive environment, if you are a Solopreneur?

Becoming your boss is exciting, yet scary! You get to call your shots, make your own decisions, and work at your convenience. However, wearing multiple tasks at the same time can be a bit overwhelming.

But, no matter how overwhelming it may sound, with the right kind of tools, you can grow your business significantly. Technology is here to build your business and run it smoothly even if it means running it by yourself.

With the right strategy & tech- tools for business growth in your arsenal, you can manage your business easily. Here is a list:

  1. Manage your Time Efficiently

Having a game plan or your to-do list ready can do wonders for your business. Begin your day with realistic and achievable day-to-day goals. You can keep all your daily tasks scheduled in advance with the help of Google Calendar. To keep your to-do list updated, use apps like Evernote and Todoist. These business tools can help you manage your tasks for the day.

  1. Automate to Save Time

Time is money! If you want to save some, you will have to come up with smart marketing & growth-strategies to expand your business operations. So as much as you would love to do everything on your own, you can`t be everywhere at once.

E-mail marketing is essential for a Solopreneur, especially when the business is at the initial stages. However, one way in which you can attain all your objectives is to make use of automation. Automations make sending welcome e-mails, product recommendations, abandoned cart reminders, and even wishing your customers “Happy Birthday” less time-consuming.

  1. Know your Customer

It is always a wise thing to keep tabs on the playing field and your competition. Start with consumer behavior and competitor analysis to see where you stand. This is an excellent growth-strategy that will unfold the hidden gaps as well as the opportunities for you.

  1. Grow a Network

In today`s world where networking can work like a charm, do not shy away from growing your network. Start building your network by attending business events and meeting others from the same industry.

You can also grow your customer base by keeping a database of your customers. Provide them with a personalized experience to attract more customers via word-of-mouth.

  1. Go Online!

Design a business website and build its social presence by using digital marketing techniques and social media platforms. By using social media platforms, you can increase the reach of your brand locally and globally as well.

While you may not have a staff being a Solopreneur, you can still run your business like a pro! However, it could be a little difficult. Without a team to delegate tasks or an excellent business strategy, how can you make sure you’ve got everything covered?

With Bada Business you can find answers to all your queries with our Problem Solving Courses specially designed for Solopreneurs. Our courses will help you with many aspects of your business with the minimum investment of time and money, leaving you free to focus on the larger picture.

Click here: https://www.badabusiness.com/psc?ref_code=ArticlesLeads  to know more about our Problem Solving Courses.

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