All businesses want growth – but achieving that goal is easier said than done. However, if you have reached the stage where your company feels like it is starting to stagnate, then read on. These helpful and innovative tips will help you develop new ideas and break out of the doldrums.
Outsourcing is the perfect way of getting results without affecting your long-term future. Yes, you will have to pay, but don’t forget that a one-off invoice isn’t going be as much of a risk as hiring extra employees. What if the idea doesn’t work as well as you had hoped? You could end up with an over-staffed business and no money left to pay them. So, if you are looking to grow, try investing in outsourced services before you make any permanent decisions.
Seek specialist advice
Think about outsourcing to a business service that has experience in your field. Let’s assume that you have been taking advantage of the recent legalization of marijuana in many states. Why not think about finding a cannabis marketing agency that knows more of what the market is doing across the country? You might have done well in your hometown, but there is a wealth of opportunity elsewhere, and finding an expert who knows where to look can help you with your growth plans.
Sponsor local community groups
Another way of finding new business opportunities is to sponsor local community groups or charities. They are always holding events throughout the year, and some can be incredibly popular occasions. If you are trying to get a bigger slice of the market, then this offers an excellent opportunity to get your name out there. Most communities and groups won’t ask for a huge amount of sponsorship money, and you will also meet many other local business folks who may be interested in what you do.
Try direct mail
Direct mail is the old equivalent of an email blast. However, just because it is an old marketing tactic doesn’t mean it won’t work. In fact, many businesses swear blind by direct marketing and commit a large part of their budgets to posting leaflets and flyers to different communities. It’s cheap – and very cost effective. And if you get your message right, it can work a treat.
Get a press contact
Getting your name out there can be tough, and when it comes to the press, it’s who you know rather than how good your product or service is. So, have a dig around at your local newspaper, TV or radio station and find someone who will take on your story. It has to be attractive to their audience, and will be more relevant if it is something to do with your local community. However, there are many things you can talk about. Use statistics and facts that you have built up about your business and its customers, and it can often lead to a fascinating tale that the local reporters can spin. You’ll get some great local exposure and also – most importantly – a good contact in the press who you can use again when necessary.
We hope this has helped shine a lot on some innovative things you can do to grow your business. Good luck!