Do you ever feel stuck at your small business? You’ve been working at it for years, yet it seems like you’ve hit a plateau you just can’t seem to get over.
At the same time, you know it’s very possible to grow. You’ve seen other businesses do it – so why isn’t it happening for you?
Instead of flipping, flopping, and floundering around, trying to find the way on your own, read these tips and see if one of them hits home:
- Create/Refine Your USP
What’s a USP? If you had to ask that question, there’s good news for you. You will start to grow rapidly once you figure it out.
“USP” stands for “unique selling proposition,” and that’s a clear, concise statement that describes exactly what differentiates you from all other businesses doing the same thing.
Note that being “full service” doesn’t differentiate you. It’s a nice feature, but it’s not enough to be a USP.
To find your USP, think carefully about your customer’s problem and how you can solve it in a unique way. Take Voodoo Doughnuts, for example.
Located in Eugene, Oregon, they make eating doughnuts incredibly unique. Many resemble ghosts and creepy creatures. Some look like bacon and eggs. All are original.
This doughnut shop is open 24 hours, and often has long lines until 2 AM.
- Run the Business You Want, Not the Business You Have
This helps you get through the early years. We’re not saying you should mislead or deceive your customers. Honesty’s always the best policy.
But, even though you may not be the preeminent expert in what you’re doing, you should project an air of confidence and authority. The same message and feel should carry through across your print marketing materials, website, and in-person interactions.
It helps overcome client’s initial fears about working with you. As your relationships with them age, you’ll build trust by showing them you’re willing to go to any length to help them succeed.
- Hire People Smarter than You
Do you seem to know where your business should be going at all times? The truth is no one does.
Yes, you are knowledgeable at what you do, but there’s very few business minds that consistently make all the right decisions on their own. To increase your odds of success, hire people who are more talented than you and make it your job to get them working together for the good of your company.
Won’t they outsmart you and get people to view them as the real leader? That’s not true teamwork. And if they try to do it, you’ll have to hire someone else who respects the idea of a team more.
That’s only 3 tips, but they’re very powerful. Once you get them working at your small business, it’ll grow like never before.
And if you think you need financing to grow, but can’t or don’t want to use traditional bank financing, consider alternative lending. At Reliant Funding, you can get up to $500,000 in funding per location, and all you need to qualify is $8,000 per month in revenue, be operating for at least a year, and have no open bankruptcies.
Contact our friendly alternative lending specialists to learn more.