There’s an argument for keeping small businesses small. Many sole traders and small business owners such as shopkeepers will likely reach a point at which they are comfortable with the size and scope of their enterprise. They know their product and how to sell it. They have a loyal clientele of repeat customers and after a few years of push and pull they have as close to a work / life balance as an entrepreneur can get. There are some, however, for whom small is not enough. They feel that they’ve reached the limits of what they can achieve as a small, independent business and are ready to swim in the big kids’ pool.
Image by MaxPixel
If you run a small business, but have growth in mind, you’re probably already aware that the key to growth lies in keeping your overhead costs manageable while investing in key areas that will facilitate growth. However, this is not always as cut and dried as it may seem. Some areas of investment are more conducive to growth than others. Some will offer slow and sustainable growth while others may be good for a short burst but little else. The last thing you want to do is poor capital into a facet of your business that won’t facilitate proper growth. Fortunately, channel your efforts into any of these areas and you can’t go wrong…
If you’re a single store with ambitions of managing multiple locations in the near future, the last thing you’ll want is to hobble your expansion by buying an all new retail POS system for your new premises. Invest in a flexible POS system like the KORONA.pos which will enable you to operate multiple POS screens from a single office location. Thus, you’re prepared to growth without excess expenditure.
Your digital marketing
Most businesses today recognise the value of digital marketing in order to grow their reach and boost their SEO rankings. There are many ways in which outsourcing your digital marketing to an external agency can facilitate growth. They can increase your search engine rankings to expand your reach. They can ensure that your online presence looks slick and professional, thereby enhancing your conversion rate of users to customers. They can help you to provide a stream of information dense, well composed content to help establish you as a knowledgeable market leader while also giving your brand a sense of personality.
As hard as you work and as many hours as you and your employees put in there are only so many customers you can realistically fit through the door. Having a robust ecommerce infrastructure, however, enables you to sell to a broader market without as many expensive overheads. Even businesses with a physical presence like to supplement their revenue from physical store sales with ecommerce sales. Not only can you shift more units of stock, you can reach a much broader audience through your online presence especially if you invest in your own app. Simply having a presence on the app stores can multiply your brand exposure exponentially, especially if you get featured.