El Referente
El Referente es el primer diario de emprendedores que busca impulsar y difundir las iniciativas más innovadoras de España de proyectos de base tecnológica, sociales.Entre las 370 compañías que forman parte de la Comunidad destacan CartoDB, Jobandtalent, Traity, Socialcar, Ticketbis o The App Date.

EIE
El Instituto Europeo para el Emprendimiento (EIE) es una organización pionera creada por un grupo de emprendedores para emprendedores. Se otorga especial protagonismo a las personas, y no exclusivamente los proyectos, en nuestra misión de fomento del emprendimiento. El objetivo principal de nuestros programas, siendo los mentores un pilar fundamental de los mismos, es fortalecer los diferentes puntos débiles que puede tener el emprendedor a la hora de acometer sus proyectos.

Emprendedores
La revista y portal líder en Gestión y Creación de Empresas.

TodoStartups
Portal de referencia para emprendedores tanto en España, como en Latinoamérica. En él se recoge toda la información de actualidad sobre startups, financiación, inversiones y nuevas tecnologías, un punto de encuentro para emprendedores en busca de inspiración para lanzar su propio proyecto.

EFE empresas
EFE -la primera agencia de noticias en Castellano y la cuarta del mundo-, así como herramientas que te pueden servir para desarrollar tu proyecto empresarial y entrevistas a protagonistas en este ecosistema que han logrado poner en marcha su idea emprendedora.

How to Stimulate Business Growth, According to the Experts

Posted by Joe Garza on 2014-06-18

Who doesn't want great advice? 

But with the plethora of knowledge out there, who has the time to keep track of which advice is the have-to-know's or must-do's?

We do!

By sifting through recent articles, guides, top ten lists, and infographics written by experts around the web, we've distilled the Top 3 pieces of advice that entrepreneurs need to know on a key topic. 

Featured across 8 sources, this week's topic focuses on growing a business.

1. Emphasize Customer Satisfaction.

Few would deny that customers are vital to a company's success, yet so many companies have failed because of a lack of customer retention, which is generally the result of poor customer communication. Babette N. Ten Haken , in an Entrepreneur article titled 4 Tips for Preparing Your Business to Grow, highlights the importance of maintaining connections with early customers: “Some early adopters will perceive that you have become ‘too big and famous’ to meet their ongoing needs. Create a strategy for maintaining contact with and reassuring your first customers that your success is founded on their belief in you.”

In another Entrepreneur article, 5 Ways to Grow Business Without Adding More Resources, Gregory Kennedy stresses the advantage of building a business through customer referrals: “Referrals are a simple way to grow a business. Asking customers for referrals directly is low-hanging fruit that everyone should take advantage of. It’s simple to develop a rewards system to encourage customer referrals.”

2. Know Your Market.

Knowing who you’re targeting your product or service to provides a multitude of benefits for a company looking to increase expansion. Check out what StartupNation has to say on the subject in an article on business growth: “Customers you currently cater to might be supplemented by an altogether different type of customer such as a younger one, a wealthier one, women vs. men, etc. You can also delineate different customer niches by behavioral and psychographic classification. For example, you may want to reach people who like hip-hop, or people who have long commutes to work, etc.”

3. Make Efficiency a Top Priority.

Efficiency is another overlooked ingredient in the recipe for expansive business growth. According to Grant Cardone, in an Entrepreneur article titled 5 Ways to Get Out of Startup Mode, an easy way to increase employee productivity is to create a sense of urgency for tasks: “Being an entrepreneur is a marathon activity with lots of sprints. Win a lot of little races and you will provide your people and company with momentum.”

In an Entrepreneur article, Mitchell Harper reiterates the importance of running an efficient company: “To grow a company, figure out what's keeping you from getting work done and then hack your schedule. Set aside blocks of uninterrupted time, hire someone to screen your calls and strap on your own CamelBak and get to work.”

While there are countless other strategies for expanding a business, these are just a few of the more important ones to keep in mind. Entrepreneurs must always be on the look out for new ways of stimulating business growth, and should not be afraid to take risks.

What do you think is necessary for business growth?

(plant on gold coins and graph them photo by Shutterstock)

Like this article?

How to Stimulate Business Growth, According to the Experts

* indicates required
X

Feedback Form

We welcome your feedback to improve the Institute. Please contact us using the form below, and we will get back to you promptly.
Your Email Address:
Message to the Institute:
What is ? (enter the answer below):
Close Window