5 Ways to Make More Money with Your Small Business

It’s a competitive world out there, and when you’re running a small business, it can be hard to know how to make your company stand out. Getting people to take interest in what you’re offering is the key to increasing profits, and it may seem difficult figuring out where to start. If you feel as though you’ve hit a dead end and tried everything you can think of in hopes of making more money with your business, here are a few helpful tips to help get the revenue flowing in.

Create a Strong Online Presence

The internet is how everyone finds out about anything these days, so it’s a wonder why so many small businesses lack quality websites for their company. For any business to truly flourish, a captivating website is essential, and giving it some personality can make it stand out from other companies offering similar products or services. When considering a website design for your business, it’s important to find a balance with it; this means avoid dry and dull sites that won’t catch anyone’s attention but also stay away from overworking your site to the point where it’s hard to take seriously.

Because your website is how most people are going to become aware of your company, it’s important to be very careful how you market yourself. Be clear and concise, but also offer some commentary on why your services are the best (testimonials can work wonders if you have some accumulated). Above all else, always make sure your website properly functions. If your site is having issues, the possible client is going to leave your site and go pick the next one that showed up in the search results. Keep these two words in mind when it comes to your web presence: captivating and functional.

Make a Positive Impact

When you’re first starting out, it’s important to do something that will set you apart from the rest of the pack. Try donating to a good cause to help build a solid reputation in your community; those things don’t go unnoticed, and people still appreciate seeing a human touch in the business world. Sponsor a local school sports team, donate to a humane society, or start a foundation for families in need; building a strong public image can help gain public support for any small business.

Create Positive Word of Mouth

Being a small business can actually be a good quality in the public eye, and owning the friendly local company can come in handy if utilized properly. Be personable and relatable with your customers or clients, and they will most likely be back again. Always put the needs and desires of the customers first (they are going to make or break your company), and make every person who walks through your door, calls your office, or sends you an email feel like the most valued person in the world. Word of mouth can be a business’s biggest asset or greatest downfall, so make sure your customers leave with good things to say about your company.

Offer Incentives

Whether it’s a reward for your loyal customer base or a promotion for new clients, incentives help keep people interested in your company. A free monthly payment or a coupon for $20 off the next purchase can be a great help in stimulating business growth, and even if it seems as though you’re losing profits by giving things away, the scale will tip in your favor as long as you can continually keep people curious about what you’re offering.

Increase Efficiency

One of the most important factors in increasing business profits is to maximize efficiency. Take time to really analyze what your business’s strong points are and where improvements can be made. There is always room for fine tuning, so work to perfect your strong points. Similarly, figure out what your business needs to work on the most: Time management? Communication within the office? Customer service? Talk with your employees and/or business associates and see what they think could make things work smoother around the office. Poor communication can lead to tasks being repeated and time being wasted, and actively talking with associates can help clear up what needs to be changed in order to increase productivity. Ask your customers to fill out surveys in order to see what could be improved on from their perspective. Getting a well-rounded point of view from the other owners (if applicable), employees, and customers can help pin point what’s working and what’s not.

Also, make sure you have the right technology to get things done as simply and efficiently as possible as many small businesses fail to stay up to date, and that can cause a huge downgrade in productivity. It might seem as though you’re saving money by sticking with old technology that still gets the job done, but it could prove costly in the long run.

 

Alex Watson is a freelance writer who enjoys researching and writing about personal finance and does his best to take his own advice. When he’s not writing, he enjoys reading the classics and keeping his box turtle, Sparky, company. He currently writes for the respected cash for gold buyer GoldMax USA.com

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4 comments

  1. Why not double up your efforts and offer an incentive to your current customers to refer your services to their friends and colleagues? This way you are saying “thank you” to your current customer base but are increasing your word of mouth referrals which can lead to more business.

    • Great tip! I’ve seen service-based business owners offer cash incentives to referrals who become paying clients. The referrer was able to use a gift certificate to purchase coaching time, additional services or even event tickets. It worked well.

      I’ve seen some creative incentives, too, like brownies and cupcakes. Not exactly related to the core business, but the referrers were appreciative.

  2. I have started my home based business a year ago but it seems that it is not making enough money thus I needed to stopped it and look for something new. There are plenty of opportunities that we can find in the internet but the key to finding the right niche is finding your passion. In every niche, there will always be competition. Your advices are great and I believe it can greatly help me and business starters. Thanks for sharing.

  3. As far as my knowledge is concerned the best way to get profit easily is to go virtual as there are many services available which can provide you virtual services like call answering services, Virtual business addresses and many other, they help to reduce your efforts which plays an important role in growth of any organization but keep in mind choose only professionals, The one with which I am working from past few months http://www.dublinofficecentre.ie/utility/contact.php
    provides a good working environment.

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