Entrepreneurs of small business usually aim at a faster growth. They want to have a sizable market share and outcompete their rivals. Still, in their zeal to outsmart everyone, many of them waste their time and money on tactics that work only for a short period. While keeping the basics, they can follow some smart business hacks to ensure growth.
Running a small business is not an easy task. In fact, handling a business becomes increasingly harder with time as it grows further. Even a little initial success becomes difficult to maintain. The problem arises because every small business has many aspects that need utmost attention. You must manage your company’s workforce, track their activities, make them more productive, ensure result-oriented marketing strategy, and many other aspects are crucial to running a business successfully.
However, many business owners aim for success in quick time. They resort to some tactics such as creating viral videos on YouTube. While such measures help, it’s essential to put first the basics of doing business in place.
But following some business basics does not mean that you need to wait for months and years to get the results. There are still many smart ways or business hacks that not only keeps you grounded but helps in rushing on the growth path. There are some effective shortcuts that small business can explore to their advantage. Even these tiny things that otherwise go unnoticed are your key tips for growth strategy.
Here Are Some Business Hacks That Your New Enterprise Can Use As Part Of Your Growth Plans
01. Let Users Generate Content
Very few businesses explore user-generated content [ UGC ]. But it is a powerful tool and one of the effective business hacks for small businesses. We all know that content is king. However, businesses require a significant amount of content regularly. That is not a budget-friendly option for most new entrepreneurs.
If they allow users to create content for you, it will help in turning them into your solid customer base. This especially is useful for businesses in fitness, nutrition, health, and fashion. So, encourage your users and customers to have their say and publish their content on your site.
02. Ensure An Effective Growth Plan
Not every business has a sound growth plan. They dream of earning big profits, but they are unaware of their competitors’ serious marketing plans. Even very few small businesses have a convincing growth map. They seldom know what direction their enterprise is going to take in the coming months. Since they have no set path, their employees, team members, and vendors fail to come out with a clear strategy to deal with hurdles.
03. Consider Every Relationship Valuable
Your relationship with your senior executives and sales assistants should be strong. If you do not need them any longer, still reconnect with them. There are many platforms where you can connect with people and clients. Meet with people during conferences. While visiting social pages of business owners, don’t forget to comment over their fine products or services. They will know that you recognize them. This is important as they may be of good help to you in the future.
To connect with people, think of sending handwritten notes as well. This helps in building a personal business relationship. The receiver of the notes will feel grateful.
04. Give Discounts
Some businesses spend a lot of money on business meets and CEOs. But they ignore small things like giving away stuff to customers. They just refuse to give discounts and do not want to earmark funds for social media ads as well as search engine marketing. The fact is that these measures are great business hacks. For example, if you provide graphic design services, you can offer attractive discounts to attract more clients in the starting phase of your business.
Many such business owners refuse to give their customers products or services away. This is because they do not know the lifetime value of customers. If you give away some cheap products to people, they will think of your business more often. Let people test your services or products free. They will come back to buy them later.
05. Automate Everything
Do not waste your time and money in personally managing various activities of your company as this practice will stagnate your business growth. Instead, opt for automation of most basic works to free up your valuable time. This also helps in eliminating distractions.
You can save time by automating your email and content marketing. Your new customer sales can also be put on automated mode. To achieve this, you should use ringless voicemail campaigns, Facebook chatbots, bulk SMS, outsourcing and freelancers.
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06. Use Artificial Intelligence
Use of Artificial Intelligence is one of the great business hacks for small entrepreneurs. When we talk of AI, it means the use of SEO, PPC, and SMM. But now AI also finds use in text and voice-based customer service solutions. Although AI is still in its nascent stage, you should try its use to see how your small business can benefit. The time is not far away when AI will be used for writing sales pages, PR and even blogs.
But small companies can leverage AI today mostly through Facebook ads and Google AdWords. These two platforms will give their AI generated recommendations for making improvements in your campaigns.
07. Respect The Value Of Your Time
As a small business owner, you must know the value of your time. It is an essential aspect of doing business successfully. For example, if you want to design some visuals such as a logo, brochure, business cards, do not waste time by handing over the job to any casual designer. You will be redesigning again and again with no results. Therefore, to save your time, it is better to hire a professional graphic designer who knows the job.
Similarly, hand the job related to your taxes to an accountant rather than doing it yourself. Let experts do the job so that you can focus on what you do the best for your business. Use some online calendar tools to organize your meetings instead of doing it manually.
08. Monitor Your Activities
When you monitor the activities of your company employees, you can know when a task starts and how much time it takes to complete. To monitor and analyze activities, set up Google Analytics. With this tool, you find out which measures is driving traffic to your business website. You can then focus on less performing site such as your social media page.
Similarly, use unique coupon codes in your email marketing. This is the way to know which emails are driving more revenue. These are the ways to find out if you should spend more time on a particular activity or not. You can delegate a task to employees after monitoring and analyzing the activities.
09. Look For Low-Cost Design Solutions
Your small business needs a wide range of visuals such as logo design, websites, business cards, brochures, stationery, and many others. You can save money and time by outsourcing the design work. There are many cost-effective platforms where you can get design solutions at affordable costs.
10. Schedule Your Social Media Content
One of the business hacks for assured growth is to schedule your social media posts. Your company may have many social accounts such as on Twitter, Facebook, or elsewhere. If you set a schedule for your Facebook and Twitter posts, you will not miss uploading the posts. This ensures better engagement with your target audience.
You can set the right time for scheduling the posts. So, take help of tools like Buffer and Hootsuite for scheduling the post at the set date and time. This will enable you to enhance productivity. By posting your social posts regularly, it helps in building your brand identity and recognition.
11. Use Email Marketing Tools
Email marketing is one of the cost-effective tactics to reach out to masses. Just collect email addresses from your sign up pages and elsewhere. Then, send emails regarding your products or services, discounts, and new developments in your company. But use email marketing tools to do marketing more smartly. These tools have pre-built templates and list segmentation.
12. Consider Long Term Plans
Do not settle for easy short-term success. Such fast results and instant gratification make you happy. But your business must have a long-term strategy for its growth. This ensures steady results for many more years to come. So, make sure that you spend more time planning for bigger goals.
13. Manage Your Projects
Even if you have a small team of employees, managing them sometimes becomes a tedious task. The allotment of a task, tracking their activities, monitoring their productivity and other things are harder to manage personally on a daily basis. Therefore, use some tools such as Trello, Pivotal, Tracker, and Slack for workflow automation, sharing, and project management.
14. Know Where To Get Great Content
Useful new content is vital for your business growth. Many sites are generating content for your type of business and industry. You must access updated content to have tips to grow your business. You should use tools such as Google Alerts so that you’ll have timely email notifications whenever Google tracks content related to your competition and industry. Other powerful tools to keep getting new content include TweetDeck and TweetChats.
15. Get Feedback
You must also be aware of the things that can work for your business. This you can do by taking an opinion of your customers about your products or services. You should directly ask them for their feedback. Remember that you may think that your products are perfect, but there is always room for improvement. Moreover, getting feedback from users gives you their perspective. After all, they are your end users.
To ask for feedback, consider using a popup. You can contact your customers by sending emails. They recently purchased your products. Ask them for their comments.
These are some of the key business hacks that your new enterprise should think of to give a boost to its earnings. You should have patience while implementing these tips. You will be spending a lot of time and money to get the desired results.
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Business hacks are shortcuts that new enterprises can depend on to achieve their goals. These hacks save your time and money. You can manage and run a business efficiently with the help of these measures. Some of these hacks are using customer-generated content, building a relationship, knowing the value of your time, automation, and others.