Mark Lyttleton is a speaker, business mentor and angel investor who helps business owners to overcome the considerable challenges involved in establishing and scaling a successful enterprise. This article will provide an outline of some of the most important steps in growing a small business, from hiring and training to building brand.
Growing a business, even a small one, can be an incredibly challenging process. The success of any venture depends on its owner’s ability to increase profits via various different methods. From marketing to recruiting and training a talented workforce, every aspect of business growth demands the business leader’s attention. The attached PDF contains an overview of some of the biggest challenges faced by entrepreneurs in 2023.
In order to grow, a business needs to identify and understand its target audience. It is only by paying attention to the needs of current and potential customers that businesses can develop attractive products or services. Reviews and surveys can be an effective means of gathering feedback, making it easier for businesses to develop products to meet market demand. The attached infographic contains some interesting statistics that highlight the value of customer experience.
Effective business leaders recognise the need to delegate, assigning tasks to competent staff members rather than struggling to do it all on their own. In doing so, founders free up their time to spend on more productive tasks, as well as helping team members to feel trusted and empowered, drawing on their skills and expertise.
Business growth can stagnate when processes and procedures are subpar, so it is important for business owners to review these periodically in order to identify procedural and resource inefficiencies. These may arise from a lack of organisation or overly complicated procedures. Businesses need to identify processes that are not working well, investigating possible solutions to optimise systems and provide better outcomes.
Customer service is a key component of business success. Irrespective of the quality of a business’s products or services, great customer service is crucial to satisfy customers. Forward-looking businesses recognise the need to go above and beyond in terms of making customers feel special, in doing so encouraging customer loyalty and repeat custom, as well as boosting brand through positive reviews, referrals and word of mouth.
Today, social media is a vital tool for business owners, enabling brands to reach thousands of people instantly. Successful businesses leverage social media to increase brand reach and exposure. The embedded video provides an overview of some of the main benefits of social media marketing from the small business owner’s perspective.