Short Story, Big Picture: Not Standing Still
Let’s start by asking, “Is your business in a better, worse, or same position as it was last year at this time?” If you don’t like the answer to that question, it’s time to look for a strategy shift to avoid a growth plateau or worse, downsizing.
Today’s Short Story is a piece to help you achieve your long-term goals, aka the Big Picture.
The goal for any small business is to grow. How do you know you are doing it the “RIGHT” way? Only you can answer that question, but all you know is you are moving forward.
Here are three strategies that you can apply to your business this summer:
Niche Down, Then Scale Up
Trying to serve everyone can water down your message and value. Find your wheelhouse(niche) like real estate agents, schools, or tech. Tailor your offers and messaging to them. Specialists in their industry are more trusted and referable. Once you dominate one niche, you can take that formula and expand to others.
Offer Value Beyond Products
It is not fun or different to compete solely on price. Become a marketing partner, not just a vendor. Creating ideas like employee welcome kits, trade show giveaways, or client gifts takes some of the work off their plate and gets you closer to the sale. Provide insights into which products are trending or selling well in similar businesses. You become indispensable, like a member of their team.
Expand Digital Presence
Relying on word-of-mouth or repeat customers limits reach. You can use some simple digital tools to attract new clients. Simple website or landing pages with testimonials and product galleries. Post case studies or success stories on social media or an email newsletter.
Pro Tip:
Position yourself as a solutions provider, not just a product pusher. Show how promotional products or apparel can help your clients promote, reward, or grow their business…they’ll keep coming back.
Bonus:
Stay Mentally Sharp. Growth plateaus often come from burnout or worse, comfort. Set personal challenges; attend a couple of webinars each month, pitch a dream client weekly, or go spy on your competitor’s social media to see what they are doing. These activities are not a waste of time, but rather a way to stay engaged and motivated.