5 Signs You’re Getting in the Way of Your Business Growth
Many small business owners don’t want their businesses to stay small. They want their startups to grow in a scalable and sustainable way. But no matter how good their product and how consistently excellent their service, they can still find themselves stuck in a rut when it comes to their business growth. They make enough to stay afloat, but they never quite experience the surge in custom and brand recognition that lead to long term growth. When this happens, it’s easy to play the blame game. It’s easy to assume that your competitors are to blame, or that your employees aren’t working hard enough. The truth, however, is that despite your best intentions the person to blame may be the person looking back at you in the mirror.
Image by Lisa Fotios via Pexels
Despite your hard work, endeavor, tenacity and passion here are some of the signs that you could be getting in the way of your own business growth…
Your business blog reads like an advert
Content marketing is absolutely essential when it comes to making an impression on your target audience. It should be the most compelling part of your online presence, bringing new people to your brand every day. It’s an opportunity to showcase your knowledge, experience and expertise by providing content that’s of value to readers in your target audience.
But there’s a fine line to be walked here.
Your content needs to be tailored to the needs, anxieties and frustrations of your target audience. It needs to be useful and of practical value to them. It needs to help them address and overcome problems they encounter regularly in their day to day lives. Otherwise, your blogs and vlogs could become off-puttingly self-congratulatory. Focus on tutorials, infographics and other high value content to build value in your brand rather than feeding your ego.
You’re keeping a tight fist on the purse strings
Don’t get us wrong, fiscal responsibility is essential to a small business. As is maintaining a steady cash flow. Liquidity is essential in keeping your business ticking over. It ensures your staff get paid, your vendors and suppliers get paid and that your operations run smoothly… but at the same time, there’s a fine line between maintaining liquidity and being afraid to make capital investments. Investing in new equipment, new software or even a new premises may compromise your cash flow, but at the same time it can more than pay for itself in the long term by improving operational efficiency and thus, allowing you to deliver a better quality of service.
You’re flying blind when it comes to Adwords
We live in the digital age, and marketing to your customers on the right social platforms as well as search engines is they key to growing brand recognition. Still, even if you’re using paid ads to boost brand awareness, this may not necessarily translate into growth unless you have a clear strategy in place. An Adwords Management Agency can help ensure that you’re getting your moneys worth out of Google Ads, using the right keywords and reducing wasteful spending on paid ads while capitalising on the momentum they afford you with organic lead capture strategies.
You’re ignoring the benefits of the cloud for your IT infrastructure
In the (almost) 2020s, every business has become a tech business. No matter what you do or whom you do it for, there’s a very strong chance that you rely on a robust IT infrastructure to facilitate your daily operations. But in an age where your business is only as competitive, secure or efficient as its IT infrastructure you’re doing your business a disservice if you don’t consider moving all or part of it to the cloud.
Cloud based solutions update automatically without the cost and downtime traditionally associated with upgrades. Likewise, their security is ever-evolving to keep up with the growing cyber security threats of a new decade. They can also help to facilitate remote working for your employees and make it easier to bring freelancers on board. Thereby reducing your overheads and giving your workforce more freedom.
You’re under investing in your team
Speaking of your workforce, it’s imperative that you not take them for granted. And while you may strive to create a working environment that provides them with challenge and encouragement, it behoves you to put your money where your mouth is. Giving employees a course of ongoing professional development and investing in an employee recognition program can help you to get the best out of your workforce.
There are many things in business that can curtail your growth and success… make sure you’re not one of them!