Pixel

How To Grow Your Business

Gary Green
Gary Green
October 1, 2020

If you want to grow your business, you need to have a plan. You can't just keep doing the same thing and hoping for growth.

In today's article, we'll discuss our top tips to grow your business. Remember, don't just grow for the sake of it! As the government help page explains:

Many businesses think of growth in terms of increased sales, but it’s also important to focus on how to maintain or improve your profitability.

Increase Sales

Increasing sales generally comes down to one of three things:

  1. Make better products / offer better services
  2. Improve your marketing to make your offerings more attractive and more widely known
  3. Improve your sales so customers are more likely to buy from you

The key to step 1 is finding out exactly what your customers want. Have you asked them? Do you ask for feedback? Do you send out questionnaires? Pick up the phone and give them a call. You may be surprised at what they say.

If you enjoy marketing and have a natural talent for it, then you should already have a good idea what to do. If it's an area you struggle with, consider working with a marketing agency or marketing consultant.

We have a sister company called Key Business Marketing which offers:

  • Copy writing
  • Social media management
  • Paid advertising
  • Marketing consultancy
  • Website design

Finally, look at your sales. How do you manage your sales funnel? Do you have a script? Do you have a system for keeping track of leads? Are you busy enough to justify bringing in a small sales team?

Launch New Products & Services

It's sometime easier to launch a brand new line of services than to supercharge the sales of your existing portfolio. Think of ways you can use your existing customer base to:

  • Up sell - encouraging customers to buy a more expensive item or service than they were considering
  • Cross sell - persuading customers to buy a related or complementary item or service in addition to the one they were considering

You can also think about finding new customers entirely. What are your strengths as a business? If you have superb logistics and a rock solid supply chain, it shouldn't be difficult to branch out into different products. If you primarily sell to younger adults, consider products for retirees (or vice versa).

Move Online

A number of businesses continue to resist moving online. Modern shoppers love spending money via websites. They don't have to travel into town, park or use public transport. They enjoy being able to browse at their own speed, rather than being hassled by pushy shop assistants.

It doesn't take much. You only need a simple website and a basic social media presence. If you'd like us to help you grow your business, please get in touch. Our experts have hundreds of combined years experience helping small businesses just like yours.

We'd be happy to have a no-obligation chat to discuss your needs. And please check out our case studies to see exactly how we work.

Interested in our services?
Fill in your details and a member of our experienced team will be in touch shortly to discuss your needs.
We adhere to strict GDPR rules and do not reveal or sell your data to any third-parties. For more, please read our Privacy Policy.
Latest Insights
September 27, 2021
Choosing The Correct VAT Scheme For Your Business

Choosing the right VAT scheme is an important step for small business owners and can have a considerable...

September 21, 2021
How to Claim EIS Income Tax Relief in 2021

If you need to know how to claim EIS income tax relief and enjoy what is...

September 2, 2021
Recovery Loan Scheme - What Is It and How Do I Apply?

As businesses seek to re-open and recover from the global pandemic, there are various forms of...

August 16, 2021
The Super-Deduction Scheme - How Does It Work?

You may have heard the term 'super-deduction' recently and wondered if you could be affected by...

August 12, 2021
The Tax Benefits of Non-Domiciled Status for UK Residents

Having a Non-Domiciled Status if you reside in the United Kingdom can have great benefits for...

July 9, 2021
Stamp Duty Land Tax (SDLT) Surcharge for Non-UK Residents

Stamp Duty Land Tax (SDLT) rates have changed again for non-residents buying a home in England...

July 7, 2021
How Is Cryptocurrency Taxed & Do I Need to Fill A Self-Assessment?

Cryptocurrency may live online with no government control or borders, but if you are in the...

July 5, 2021
Venture Capital Schemes: Tax Relief Guide For Investors

When it comes to finding out what tax relief is available for investors using a venture...

July 2, 2021
Claiming Business Asset Disposal Relief in 2021

Business Asset Disposal Relief (BADR) used to be known as Entrepreneurs’ Relief before 6 April 2020....

View Our latest insights »
Get the latest UK tax & business news and guidance delivered straight to your inbox
We care about the protection of your data. No spam. Unsubscribe anytime.
Copyright © 2021 Key Business Consultants LLP. Reg: E&W OC389322
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram