?How do you really know if your business is growing if you don?t track sales data? Forecast sales, track deals, and manage client relationships with the help of a free simple CRM and sales app like Base.
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Some businesses grow too fast and can?t sustain it.? Some businesses sacrifice customer satisfaction for revenue.? Be careful or your growth desires could put you out of business.
Growth is something most businesses strive for. Complacency is not a good thing, but growth needs to be carefully planned for it to be sustainable.
Companies that try to grow too fast may have problems ? problems with keeping their customers as well as problems succeeding at what they are trying to accomplish.? Don?t forfeit your current success in the name of growth. Careful planning can help you grow your business, sell more, attract new customers, and make more money. But if you aren?t strategic in your growth, you can lose the success you have today and jeopardize future sustainability.
You need to find a way to grow your small business while ensuring that you can properly service the business that you already have. The wrong approach could be a catastrophe.
Infrastructure
The right infrastructure needs to be in place to help you grow.
You will need people, processes, and you may need a reserve of funds, too. Funds could be for marketing, for inventory, technology, and so on. Beyond these things, you?ll need relationships in place so that you can serve new business that comes in.
- Are your vendors and partners able to help you as you grow?
- Can you serve a lot of new customers if your marketing efforts quickly pay off?
- Do the technology tools you use today support your ability for growth?
- Will there be any roadblocks stopping you from delivering the orders when they come in?
You need the right infrastructure for new and existing business.
Be Customer Service Oriented
Always operate with a customer experience mindset. If you put the customer first, you?ll do great ?A good experience dealing with you will lead to repeat business and referrals and customer loyalty.
Research
Do you know what your market wants?
Know what makes your customers happy and this can help you achieve sustainable growth. Never stop researching so that you can continue to sustain your success by knowing what your customers want.
Tracking
Tracking is paramount to success with growth and to managing your customer relationships.? Make sure you track existing deals, new deals, potential leads, and customer details. When companies experience a large influx in volume, things can fall between the cracks.? A spreadsheet won?t cut it. A spreadsheet can?t forecast for your small business.
Good tracking tools can save you from having to micromanage staff, too, and can open time up in your calendar so that you can confidently lead the growth of your business. Tracking can lead to customer satisfaction because you?ll know by your tracking efforts just what to do to keep customers satisfied.
Analysis
As you strive to grow you need to analyze your progress. The data you gather can help you see where things are going well and where things may need tweaks.
- Are you retaining customers?
- Are you tracking feedback to see if they are happy with what they?re getting from you?
- Are you looking at the rate of repeat business and making sure that you?re doing all you can to transform new customers into repeat clients?
Invest in the Future
Companies who experience growth need to sow seeds for future expansion. ?Invest in tools and people so that you can expand on your current success and keep good things coming.
Growth is great. However, not everyone can achieve it. Even fewer can take make the jump to the next level rather than just seeing a temporary spike in volume.? Make customer satisfaction, for old and new customers, your priority and you?ll be in a great position to succeed.
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Dana Prince writes for Future Simple?s Growth University. Dana blends her passion for entrepreneurship with experience in software licensing sales, product management, online marketing, and SEO writing to run Dana Prince Writing, a web writing agency that creates optimized content that helps websites succeed.Source: http://www.futuresimple.com/blog/growth-small-business-success/
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