 Business is business and whatever the size of your company there are many principles that apply to all. Look at the following skills that big businesses use that small businesses can use too: Leveraging partnerships Working with other companies or individuals will not only benefit you and share the workload it will benefit the other company too. The partnerships that tend to work the best are those that share the rewards and risks. If the partnership proves successful you will gradually have more and more potential opportunities to work together. Working with others can open you up to new opportunities and offers which may otherwise not have been presented. Partnerships also increase your visibility, which then increases the chances of viability and thus profitability. Branding However big or small your company is branding is important. In today’s marketing, a brand is not just a name given to a product or service from a particular source. Your ‘brand’ is what your clients (or potential clients) think of when he or she hears your brand name. This is relevant for both big and small companies or products. Even if they haven’t heard of your business before they met your business, your brand becomes the impression they leave with when they have worked alongside your business. The best way to get brand exposure is through having a marketing strategy to get your product or services out there and known. The big brands do this all the time with TV and radio ads and posters, billboards and PR. Although these are expensive ways of marketing, they work. Having a marketing strategy is vital and even of you don’t have a marketing budget to speak of, there are other ways. Think of your market in terms of demographics, location, gender, etc and determine where you want to make your mark or where you want to start to grow the brand and then grow organically from there. You can put ads in local newspapers, distribute leaflets, invest in a website or use social media. These are all effective ways of marketing your brand without breaking the bank. Listening to customers Simple, but true. Large companies invest big bucks in research, development and marketing. This can be done by asking for feedback on social media or creating debates and discussions for their customers to take part in. Imagine if you had a restaurant, you may have some special meals for a limited time only. if people are talking about them a lot and showing a real interest you could set up a vote on social media asking whether to keep that meal or offer going on for longer. This not only gains customer loyalty as you are giving them a choice, it creates more company awareness, which could lead to even more customers. This ability to be spoken about over social media and other channels creates a buzz. Why not take these three tips and spend time on each of these and see what changes happen in your business. If you want to talk it through with a professional. At RBSS Consulting, we offer real business advice and solutions for start-ups and small businesses that want to start right and grow profitably. For more information contact RBSS Consulting at [email protected] or 0333 355 1696. Business Advisors Romford | Business Advisors Hornchurch | Business Advisors Upminster | Business Advisors Brentwood | Business Advisors Barking | Business Advisors Dagenham | Business Advisors Ilford | Business Advisors Stratford | Business Advisors London
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