Safe Scaling for New Businesses

For businesses of all sizes, small and medium included, growth is almost always the best way to make a success of your services. This is demonstrated by some of the best minds in business; according to Forbes, 83% of entrepreneurs were opening up for outside investment rather than focusing on sales or product innovation. This shows that growth is the way forward. However, be wary – growth needs to be treated with extreme care; for a small business, there are certain ways to safely and securely grow a business.

A Company Auto

Making small changes to your business that impact multiple areas is a classic example of smart growth, and a vehicle is a great example of this. For many small home businesses, having a bespoke vehicle can provide growth to your business in several ways. Firstly, it makes economic sense; buying a vehicle for your business will help to boost your credit score, widen the total assets of your company, and can often be subject to tax breaks, courtesy of the IRS. On a logistical level, it can help you to deliver your services and improve efficiency through the day. Cars also have an intrinsic value for advertising. According to UKs Telegraph, people in urban areas will see up to 3,000 vehicles every day. That’s a lot of impact, whether through simple raised awareness or through new customers.

Increasing Web Presence

Perhaps shockingly, 96% of small businesses fail in the first year. According to an analysis of this figure conducted by Entrepreneur magazine, an increasingly large factor in this situation is a lack of web presence. SEO optimization and increased integration with web services, like payments services, are a key way to achieve a greater web presence. Also consider upping your social media game; tools like Twitter, Facebook and Instagram have sophisticated analytics to show you what reach your posts are creating with potential new consumers. The importance of this to small business cannot be understated, and research conducted by Econsultancy laid this out plainly; the top 500 social media-focused retailers earned over $6.5bn in 2017, a massive jump of 24% from the previous year.

Improve Your Basics

Consumers are increasingly flocking to businesses that have a noticeably ‘human’ edge. In the digital age, where the level of technology deployed by businesses and people reach ubiquitous levels, this can make consumers feel disconnected. Business leaders everywhere, including those behind business imprint BA, have noted the need for a personal touch. As a small business, you have a unique opportunity to create and nurture personal connections; focus on these interactions with your customers, and seek to grow your business in a way that maintains that personal feel that can only be obtained from real interaction. Having this quality will help to inspire passive growth as there is a huge market for locally focused business; Small Business.com found that 93% of shoppers prefer a local, personal service.

Your business is your livelihood, and to go to bigger things, growth is crucial. However, growth can kill your business if taken in haste or with poor planning. Focusing on your business logistics, web presence, and maintaining the personal touch are key to early growth.