This is a guest contribution by Moumita Ghosh from websiteandtechnology.com
After starting a business, it is a tough task to make it sustainable. Finding a business idea and apply it in reality is no doubt a tough task. But it is tougher to grow the business. You might have searched what strategies the successful businessmen apply? How they could manage to grow their business? How they manage their business?
I want to tell you, the first requirement for your business growth is the inner motivation and positivity within you. If you believe yourself and have confidence of growing your business, no one can stop you from living your dream.
If your mind is all set to grow, I want to share the strategies successful businessmen follow. In this post we will exercise these strategies and assure our success.
1- Plan what to do and do what you plan
A simple and most important aspect of a business growth is planning. When you want to reach a destination, you first decide where you want to reach then you decide by which route you will travel and after that you decide the time you will start and finalize at what time you will reach your destination. Each and everything must be planned in advance.
To plan your business growth, you choose a known business preferably. You can conduct personal surveys to collect the overall response for users. You can go for market research. Collect the estimated money so that you will be financially strong.
2- Check it out
Once you collect all these factors mentioned above, check the plan with all aspects together. Check the plan number of times till you get a flawless planned strategy. The finalized plan cannot be changed, so before making a conclusion proofread all aspects. You should not jump to conclusion in excitement.
3- Take advice
To be a successful entrepreneurs learn to take advice from experts. They help you to get a better strategy than you. You can’t imagine all the factors for your business without starting it, in such situation experienced people can help you. They know each corner of strategies so that they can make you aware of all problems you may face. they are also a motivation for you to step forward.
4- Have a good team
To make your idea alive you will need a right team. Hiring is a skill. Master this skill to get useful and strong team. Study your requirements and accordingly hire personals. What eligibility you want? Which skills you want in them? Where you will source them? Think over all the questions before hiring them.
5- Create a marketing plan
To grow your business you need to promote your business. You can use the results of marketing research you conducted in planning phase. From the research find out your target audience, age group of your audience. Choose the language in which you audience is comfortable. Decide how you can reach your targeted audience. In short decide what and how you are going to deliver your product or service.
6- Launch in versions
It may depend on you business idea to decide when to launch you product. Keep in mind if you launch all the features you planned at once, it will decrease your audience curiosity to get more. Everything at once is not preferable. So launch your product in versions.
7- Let criticizers talk
After launching your business, you may hear many criticizers giving their review. You can take this phase as a testing phase. Don’t discourage yourself with such critics. Take them positively to be better than before. Do not get frustrated with what they are saying. Take efforts to solve the problem they found out in your business.
8- Keep on improving
During the testing period by criticizers you will collect the feedback. Feedback can give you the factors you are lacking. You will get to know what actually user expected. Go for improvisation according to fulfill user’s requirements. Analyze your feedback and create a list of to do things. When these listed things will be done, you will get a better product for sure.
9- Create a process
Create a planned process before entering into the market. Entering without proper process may disappoint you with business failure. Create a list of task first. Calculate the approximate time you require to complete the task. Source your employees according to their skill on respective task. Once done with the entire task proofread the list again. Ask your mentors for advice. If they find errors, fix them out with all efforts and patience. Be flexible with the process so that if any change occurs, you will be ready to apply them.
10- Make a strong opening
To grow your business, you need to root your business at the initial phase itself. To rule the market you need to capture initial market first. To capture entire market, you have to prepare a strategy. To apply this strategy you need prompt team members and capital to invest. Determine how many team members you will need and what your budget is. Accordingly you can source your team to capture entire market.
11- Make smart choices
When you start to capture the market after rooting your business in initial phase, you don’t need to experiment with the new things. In case of online business, once you start your business. you will automatically explore new technologies and strategies. You must stick to your basic plan. Afterwards when the new technologies will open up, you can make a smart choice among them. Wise choice can help you to grow further.
Many entrepreneurs start their business with lot of excitements and new ideas. But they fail to nurture their business to grow it t the success. New entrepreneurs must try out the above strategies to make business sustainability easier for them. Take the steps properly; on each step make sure you proofread the plan number of times before its actual application. These strategies can create a magical path for you which will lead you to success. Be confident that you can and you will do it.