7 Business Challenges Every Small Business Struggles
- Finding Customers
- Increasing Brand Awareness
- Building an Email List
- Lead Generation
- Hiring Talented Manpower
- Financial Planning
- Scaling Business
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10 Ways to Get New Customers
1. Ask for Referrals – Referrals can be an essential part of running a business. They can help build customer relationship, and of course bring new customers.
Before choosing the medium you will use to ask for referrals, you need to know who to ask and when, for the best chances of getting more referrals. Here are four essential tips:-
Increasing Brand Awareness
What is Brand Awareness?
Brand awareness is made up of two things first is brand and the second is awareness. We can define brand as your logo Or your company name Or a particular thing made up of both your logo and company name, which you register into the customer’s mind by the name Or image of that customer will recognize your brand. Different types of logo have been made of your brand in a way they could be easily registered on your brain and customer could easily learn your name, from here your brand can build, this is called brand.
E-mail Marketing is an effective and efficient way of marketing.
Do you know? Through e-mail, information can be transferred from one inbox to another inboxes. Through this e-mail marketing can also be done.
In E-mail Marketing,1978, the first e-mail was sent, and its result was the sale of 13 million $ and this is a fact since then e-mail is used as an effective option for marketing.
What is lead generation?
So let us assume a situation to understand lead generation assume that you are the owner of a company that produces beauty-related products and you have to promote one of your products now what you will do? Whether you will advertise it on television or newspaper In this case what is the percentage that it will reach to your targeted customer because this advertisement will be viewed by a 10 years child to 50 years old man but your targeted customers are females who will buy your product because your company produces beauty product so in this case, that advertisement will not be worthy for you because it will be able to produce the conversion as you assumed so lead generation is the solution of this problem.
Hiring Talented Manpower
You have started a start-up or you are growing a business then alone you can’t run a business, you will need manpower, if the right manpower is not in your business then chances of losses will be increased so for this how-to find the right manpower.
What are the things to be kept in mind while hiring manpower?
Cash flow – Every entrepreneur and businessman tries to manage this but rare ones get succeed. Suppose your business is like a bucket in which water is filled that water is your business operating cash and you take out this cash and continue to pay your supplier your vendors your consultant, and the cash of your sales comes in that, most important work of a business is to maintain cash flow in a business if your cash is over at that time an employee comes to you to ask for the salary at that time you can’t give him a salary, if any vendor comes then you can’t give his money and then he stops your product supply overall your business stops due to cash flow.
Scaling Your Business
Every Businessman dreams to make his small businesses big, you should remember that starting every business is small. You have to follow many small steps to make your business large.
What is scaling?
Scaling means how you are growing your business and what you can expand in this so to take your business to a high level.
Two type Method
1. Addition Scaling
2. Multiplication Scaling