Business is all about numbers. The most obvious and important is how much your business brings in relative to how much it has to spend to operate. If the result is positive then congratulations: you are making a profit. If it is negative, then that is not necessarily the end of your business. Many small businesses report losses in the first few years. One of the reasons for this is that every business requires money to get started. You have to hire or buy an office as well as all of the equipment that you’ll need. This is likely to include all sorts of things from computers, chairs and desks, to the more modest office supplies that you’ll need such as paperclips and pens. There is then the issue of hiring employees which can be a massive expense in and of itself. It is estimated that the cost is as much as £30614 (or about $39000).
However, the idea is to always make more. Once you become successful and you make enough money to live comfortably, you may be tempted to settle down and just try to maintain what you have. The only problem with this is that if Bill Gates had done that, he would not currently be the richest person on earth and have the ability to help do great work like eradicating diseases. There are lots of ways to make your business more successful, but one of the best is to try to reach more customers. This can be more difficult than it sounds. Here are a few tips for increasing your exposure:
If you are part of the 46% of small businesses that do not have a website, then you are simply failing to adapt to the modern market. If you are part of other 54%, but you want to reach more people. you may want to consider why you’re website is not as effective as it could be. A central tacit of any brand is the name that you use. If yours is not as engaging or memorable as possible, you should consider investing in a new one. Reconstructing the infrastructure of your online presence may sound like a lot of work but it does not need to be (you can find out more here). Once you’ve got a site that you’re happy with, you need to get people to visit it. Taking out online advertising and promoting yourself on social media sites are both great ways of attracting more potential customers.
While the internet is an indispensable resource, it is not the only effective way to get your business noticed. Developing a good corporate reputation is crucial. You could think about sponsoring a sports team or a local charity event. Other good options include donating money to good causes such as schools or hospitals.
You should also consider using the greatest resource that you already have: your existing customers. If you incentivise them to tell their friends and family about you, you can quickly reach lots of people. It is particularly effective because they will have heard your name from someone they like and trust.