More and more Small businesses are started up every day. That means supply is increasing and competition is growing. I often hear people say “competition is good”, but that is not true for business. Competition is only good for the consumer or buyer. Anyway, there is nothing you can do to kill the competition, but there are things you can do to start above your competition.
According to Small Business Admisnistration (SBA), 50% of small businesses survive the first five years. Between 80 – 90% run out of business in the first 10 years. Even though the figures nuclide business that closed for all reasons like, illegal issues and so on, they are pretty alarming. The figure are really alarming and here are two things that you can focus on to survive and grow.
By doing these two things; your small business will survive, and grow even in the worst economy.
Concentrate on making Sales
I am sure you have a lot of stuff to do, especially if you are solo. But on top of your to do list should be making sales. Do you have a sales strategy? How effective is your sales strategy? You want to come up with a target and a sales plan to reach that target.
The plan shouldn’t be permanent from the start as you are going need to tinker it over time until it gets you the results you are looking for. SoBold Online Marketing sit down as a team and ask themselves some fairly basic questions: How did it go? Where did we see success? Where didn’t we? Did we hit our numbers?
Answering these questions allows the team to assess their performance and know what to do next. According to SoBold, this process also helps team members to regain lost momentum and get back on track.
This sounds obvious but the truth is, many small business owners spend so little time doing things that bring in sales. Sometimes we get the perfect moment, the perfect opportunity to introduce our business ad products but we let slip our hands just because we fear to be labeled a sales person. We forget the fact that if we as business owners are not making sales, the business will soon go down.
Always remember “Cash is King”. And if you don’t make any sales, there is no cash. Grant Cardone a Sales expert says, “If Cash is King, Sales is God”
Here are some sales tips from experts and business owners that I believe can help you.
The second most important thing to always keep in mind is to stay consistent. Everything you are doing to make sales, keep them going on. Unless you are consistent in your marketing, no one will remember your business. Consistency will help you to account and measure your efforts better. Additionally, it will also establish your reputation.
There you go; if you really want to survive and grow your small business, you should focus on sales and consistency in whatever you do.
As a small business owner what are you doing to grow? What is in your sales strategy? Please share in the comments below.