Growing a business is a topic many business owners struggle with, especially in times of economic strife. Entrepreneurs are constantly looking for ways to expand and continue to grow their business and their customer base. In a COVID-19 world where most businesses are just trying to stay afloat, it might seem impossible to grow. However, the pandemic forced us to work harder to identify areas of opportunity across every industry. The adoption of new business ideas has accelerated immensely over the past year.
With that said, there are many ways that businesses can work to grow their businesses in this new age of business in 2021. Here are some ways to grow as a business owner this year!
List of 5 Ways to Grow Your Business in 2021
1- Invest in your business
The best thing that a business owner can do is to take the money they’re earning and reinvest it back into their business. In 2021, the funds a business is earning can be fewer and farther in between, but you don’t want your growth to slow down.
Consider taking out a business capital loan so that you can use the funds to grow your business. A business loan can be a great way for you to keep your business’s momentum going, as well as continue to grow the business itself. You can use the funds from a loan for new equipment, to invest in marketing, or to hire a new team for a specific project or department. Whatever you decide to use the loan for, make sure you’re using the funds wisely to move your business forward, stay competitive and serve your audience with greater excellence.
2- Gain (and keep) the trust of your customers
Having loyal customers is something that every business needs if they want to stand the test of time. You need your customers to be able to trust that you will give them quality service every time they come to your business. In a time where the community is all trying to work together, make sure you show your customers that you want to work with them. Give out coupons to your repeat customers, or even throw in a freebie once in a while if you can. Show your current customers that you value them and their business will go a long way, and you’ll also gain valuable new customers when your loyal customers talk about your wonderful service. During the pandemic especially, you’ll also want to prove that you’ve gone out of your way to keep your customers safe. Offer contact-free service and even consider offering delivery if applicable.
3- Up your marketing game
Now more than ever, the internet is going to be a huge part of what can make your business stand out from the rest. If digital marketing wasn’t a huge priority before 2021, you’re going to want to make it one this year.
If you don’t have one already, create a website for your company so that current and potential customers can find you and see what you offer. If you already have a website, now is a good time to revamp it. Maybe it’s time for a rebrand. What are you trying to convey about your business? Make sure every part of your marketing strategy portrays that.
Another element of your digital marketing strategy that you’ll want to focus on is your social media presence. Designate or hire someone on your team that is in charge of all social media efforts to make sure that you’re marketing to your customers in the right way. Feature your products on your social media pages, keep customers up to date on new things going on at your business, and engage with your followers.
If you’re wondering where to start with your marketing revamp, check out our marketing services to help get you moving in the right direction.
4- Get the resources your business needs
Moving forward, it’s important to ensure that you and your company have all the resources you need in order to succeed. You’ll want to have the essentials and more to keep your business prepared and safe.
Not only should you make sure you have all of the equipment you need to run your business normally, you should also ensure that your business is equipped with the resources it needs in a COVID world. Invest in the right supplies to keep your employees and customers alike safe and healthy. Have a substantial stock of hand sanitizer and face masks, and consider investing in touchless features and plexiglass dividers if needed.
You’ll also want to reevaluate if your business has the workforce needed to get the job done. Your business won’t be able to grow if an individual or an entire department is spread too thin trying to do more than what’s in their job description. Hire the right people and develop teams where your business is lacking. Your business will only benefit from more amazing employees working together toward the same goal.
5- Go with the flow
We all learned in 2020 that the world, the way business is affected by it, can change at any moment. COVID-19 had a huge impact on the future of business. Businesses had to change the way they operated in a huge way when the pandemic hit, so it’s crucial to stay flexible and stay open to what the future might hold. Be adaptable with the way the business world operates currently, and offer more contactless services, but also be ready for when life returns to more of the “normal” we’re used to. Your customers are going to want options, and if they aren’t available, they either won’t be able to support your business or will choose not to and go elsewhere.
Make sure your business goes with the flow and gives your customers exactly what they need now and in the future. That way, you guarantee that your business not only survives any changes it might encounter but comes out stronger on the other end.
Which of these ideas for business growth are you going to try in 2021? And what are other ideas besides these five that you will implement? Leave a comment and share your ideas.
If you’re looking to expand and grow your business in 2021 and beyond, these tips can give you a place to start and multiple areas to focus on to drive for success.
Do you need help growing your business? Reach out to us for Digital Marketing Services so we can take some of the workload off of your plate while you focus on running your business.