5 Ways to Help Grow Your Startup Business

You’ve worked hard to launch your business and make it a success. Before launching the

business, you talked with experts, you did your research, you read all the books and magazines,

and now you’ve finally reached a point of equilibrium where your revenue stream is stable and

things are running smoothly. Now your focus is on growth. Here are five ways to help move

your small business to the next level.

Create an Online Presence

If you don’t have a website, now is the time to create one. Whether your small business is a

boutique clothing shop in a brick and mortar location, a one-man plumbing operation, or a

mobile dog grooming service, having a website where potential customers can get information

about your products and services is a must. Use social networks to get the word out about your

business, and offer enticing special offers (sales, promotions, etc.) that bring in business and

prompt people to “share” your posts. Check out this article with social media tips for small

businesses.

Establish an HR Department

If you’ve reached the stage where you’re starting to hire additional staff, setting up a human

resources department is essential, even if it’s comprised of a single HR professional. An HR pro

can help you:

Create a staffing plan

Create new job titles and descriptions

Develop a system of recruiting employees, including the utilization of recruiting software

Track employee timecards and time off requests

Deliver performance reviews

Administer health plans and other employee benefits

Handle employee resignations and terminations

An HR person is an invaluable resource for your business—don’t spend the time you should be

using to grow your business on functions that could better be handled by a professional. For help,

read this HR checklist for new businesses by Recruiterbox.

Consider Franchising

Over the decades, consumers have come to embrace franchises, and many companies have had

great success with franchised businesses. Consider offering franchise opportunities as a way to

expand your business outside of your area or region. You’ll help improve your profit margin,

promote your brand, create jobs, and help others achieve success by providing leadership and

vision. If you’re seriously considering offering franchising opportunities, it’s important to talk to

a franchise attorney and do thorough research. Read more about franchising here.

Tap into Additional Markets

More than likely there is at least one additional market you could touch to help grow your

business. First, identify who is currently buying your product or service, and ask yourself why

they’re buying—in other words, what need are you satisfying among this group or demographic?

What other groups might benefit from your product or service? For example, if you’re a shoe

repair shop, perhaps you could add tailoring or alterations to your list of services, or same-day

repairs for busy customers. Think outside the box about the different markets you could be

tapping into to help grow your business.

Partner with Other Businesses

Forming alliances with other successful, reputable businesses that offer complementary products

or services for your business can help you expand your customer base. For example, a

construction company could enter into reciprocal referral programs with a local plumbing

company, an electrician, and a home security company, and bring new customers in as a result.

Launching a startup business is no easy feat, as any small business owner will attest. Continued

success and growth require determination and hard work, and a willingness to think outside the

box and take calculated risks.