Monday, January 21, 2013

5 Small Business Success Strategies you can develop

Below are 5 Small Business Success Strategies

1. Develop your USP (unique selling proposition)

It does not matter what your business is or in what industry you operate, you’ve got to stand out from the crowd by creating a compelling USP that sells you and the business almost instantly. The starting point of developing a USP is to ask yourself questions such as;

  •     what is my passion?
  •     who do I want to serve?
  •     who are my potential customers?
  •     what do they need?
  •     what can I offer?
  •     will they be willing to pay?
  •     how much? etc,

The list of questions can go on and on from this point. This is a key small business success strategy I advice you to learn and practice.

2. Develop your Elevator pitch

Can you explain your business in 60 seconds? Imagine, lodging in one of the Hilton hotels and there you are in an elevator and suddenly it slides open and a top executive of a company you have been trying to do business with steps in, what will be your reaction? Are you going to wait for the perfect day? or would you swing into action and use your neatly crafted elevator pitch to introduce yourself or your business? If you are like me, I bet you’ll maximise every bit of that opportunity.

Remember, opportunity is a haughty goddess – the Richest man in Babylon

3. Develop a Testimonial system

Do you want to experience small business success? Then you’ve got to develop a testimonial strategy. It does not matter when or where, get into the habit of asking (begging on your knees) for testimonials as long as your product or service delivers on its promises. Get them to write about it but it is preferable if they agree to do a 60 seconds video for you, because pictures speak a thousand words and videos a whole lot more. Having testimonials from satisfied customers is one small bu
siness success strategy that will take your business to the next level.

Testimonials do play an extremely important role for small businesses especially in areas such as PR, advertising etc.

4. Develop an Upselling strategy