5 Tips To Expand Your Business In 2019

Business Ideas To Help You Grow

At the beginning of every new year, it is a time to reflect on how your business did the previous year, and then take a close look at the newest trends that can help your business grow in the new year. When you read about the latest business news for 2019, five emerging trends stand out as avenues to grow your business. 

• SOCIAL MEDIA DEVELOPMENT: Every business, and the people who make up the company are unique. Because of this, you can really make your company stand out on Social Media. The key here is to just be real, authentic, and send a message that reflects who you really are as people, and as a company. Many polls show that people are tired of being spammed with a bunch of hyped up nonsense like "Make a million dollars overnight". People just want to hear the truth about how your company can add value to their everyday lives. Google + is going away in 2019, that just leaves three that you really need to focus on: Facebook, Twitter, and Instagram. 

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• BECOME MORE DIVERSIFIED: You've heard the old saying "Don't put your eggs all in one basket", well it's definitely true in business. Too often business owners get tunnel vision and get stuck on just one product or service, which eventually leads to failure, or no growth in revenue. A good practice as a business owner is to sit down in a brainstorming session with every member of the company, and just have everyone write down business ideas that they think might produce growth for the company. A new car dealership had one of these sessions about how to increase service appointments, and the "lot attendant" said, "We should put massage chairs in the waiting area for our service customers". The owner of the company loved the idea and put massage chairs in the waiting area, and then incorporated that into their advertising. Service appointments increased by 40% over a two month period. Speaking of advertising....

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• TRACK THE RESULTS OF ADVERTISING DOLLARS: It is hard enough for small business owners to take money out of their budgets for advertising, which means it's crucial to track the effectiveness of each dollar spent. For companies who do mainly online sales, there are many good sources of artificial intelligence that can track where each lead comes from, a couple of good ones are Salesforce and Google Analytics. Another simple way to track is on any forms that a client fills out, ask the question "How did you hear about us?". Brick and mortar companies that have clients walking in the door can also ask the same question and record the data. If you have a call center or receptionist answering the phone, ask the same question to every new client that calls. From the very basic methods, to technical software, keep track of every dollar, and do away with advertising sources that do not produce results.

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• CONTENT IS KING: In 2019 people are watching videos more than ever, and it is important to keep up with the trends. Businesses who post blog articles are getting the majority of traffic, especially if it includes a video, and a call to action. When you talk about SEO (Search Engine Optimization), videos included in your content will catapult a blog article up the Google rankings much faster than one without a video. If you are not familiar with podcasts, they are on the rise for 2019 in smart speaker technology, and that combined with your content will definitely give you an edge over your competitors this year.

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• EXPAND YOUR TEAM: This is an age old concept that can often get overlooked. It is also one of the most effective ways to increase revenue very quickly. I was talking to a business owner who said that he was struggling just to make ends meet, and had approached our company for a short term business loan. I discovered that he had 5 sales people who were producing the majority of the revenue for the company, I suggested that he hire 5 more immediately, he replied that he couldn't afford to hire 5 more. I hear that often in the business world, but it simply isn't true with hiring sales people. Sales people get paid on commission most of the time, which means they don't get paid until they produce revenue for the company. He was still uncomfortable with the idea, so we gave him a short term loan to ensure that he could hire 5 more immediately, get them trained, and then hire 5 more within 2 weeks. In this example, 5 sales people were producing on average of 5K revenue each per month, within 2 weeks they put on 5 more sales people, making a total of 15. Within two months 15 sales people were producing an average of 5k revenue each month for the company, it's just simple math, and it works. Expand your team!!

No matter if you are expanding your team, or spending more on advertising, it can often times take a few months to see the revenue grow, and it costs money to do these things. At Small Business Capital US we have a variety of short term and long term business loans to cover the costs until you see the additional revenue. When you need a loan of any kind, we've got you covered. Request a Free Quote Today, or give one of our experts a call to see what options are available for your company.

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