This Forum Is Dedicated To The Cultural, Spiritual, Economic, Academic, Political, And Social Empowerment Of African-Americans In The United States.
Saturday, August 26, 2006
Great Ideas For Building Your Business ...
|
 | For many small business owners, getting the most out of their money isn't just a good idea, it's a necessity. But when budgets are tight, what's an entrepreneur to do in order to bring in new business? Here are five strategies to try:
- Offer incentives for referrals. Your top customers can be your best source of new business; don't be afraid to ask them for contacts. They'll most likely know other people who might be interested in your business, and can connect you with these new contacts more effectively than a cold call or mailing effort. Consider giving your customers an incentive to help—discounts, free samples, or even cash back. A little goes a long way.
- Use an email distribution list. Emailing your latest news and product updates to customers or prospects is a simple way to get your business name out there. Gather up the business cards you've collected and pull up the electronic contact list on your computer to create a master email contact list. Once a month, email people with a little bit about your business. Consider including some of the following:
- Your contact information and link to your website
- An update on your latest products and services
- Items of interest: company milestones, new hires, announcing new projects or community involvement
- Quick tips or resources of interest
- Discounts and Offers: Offer printable coupons for your business or let subscribers know about unadvertised sales or discounts
- The ability to refer a friend
Another idea: consider turning this email communication into a simply designed eNewsletter. Creating a format that you can reuse (e.g., including a simple graphic at the beginning/top of your email with your logo or 'name' of your newsletter) takes just a little time and money, but makes you stand out in the recipient's inbox and adds a level of professionalism to your efforts.
- Offer a free seminar. It's an easy way to get potential customers in the door and a great way to begin building a rapport with them. Seminars turn your expertise into an educational event in a low-risk setting. It's also free publicity, and gives you plenty of one-on-one time with customers to help get your sales moving. Be sure to make your topic timely and interesting to get greater attendance. For example, hosting a "Better Tax Planning Seminar" isn't quite as enticing as a seminar titled: "Ready for a Refund? Get critical tax prep tips that can save you money."
- Establish partnerships. Networking and partnering with relevant businesses or suppliers can give you exposure to a whole new pool of potential business. If your company builds patios and you know someone with a landscaping business, a strong relationship built on referrals could potentially double business for both of you. If you own a construction company, partner with the largest realtor in town to get first referrals for home improvement projects. If you're a florist, network at event planner association meetings. Scour trade publications for possible partners, contact people at vendors you do business with, and set up a partnership that creates success for everyone involved.
Getting new business should be more about using your brain than your bank account. Clever strategies like these can open new doors to new revenue in no time. Happy selling! |
|
