It’s no easy feat running a business let alone getting it to a place of healthy and steady growth. And, while we know these things don’t happen overnight, there are a few ways to set yourself up for success.
Thankfully, tax specialists, H&R Block want to help you get ahead. In partnership with TEDxSydney they have provided some simple but substantial tips to help navigate your way to that next stage of your business – as well as offering you a chance to win a $10,000 grant.
- Find loyal customers
A quick and fleeting sale is fine when it comes to End of Financial Year but what will really positively affect your bottom line is having a majority of loyal customers. But how do you acquire them and keep them happy? This might mean developing rewards schemes, implementing incredible customer service systems, or simply adding a personal touch to your communications and brand. After all, a loyal customer is a frequent customer.
- Contain your costs
There are always opportunities where we can cut back on costs or perhaps re-negotiate deals for a better price. Start by re-evaluating your office costs or your negotiation skills for business goods and services.
- Look to franchise
Do you have a successful business where you could produce a system that ensures others can duplicate your success? Franchising may be the answer to accelerating your business growth. Start by looking at similar models in your industry or niche for inspiration.
- Make the most of your time
Sounds, simple and probably easier said than done, but cutting back on meetings that can be turned into emails might mean the difference between getting that next deal or client. Time is our greatest resource and we should always be measuring its return on investment.
- Apply for grants
Often we don’t look outside our own business to generate revenue or funding, even though there are grants available that can really take your business to that next level.
Over the next few months, H&R Block will be encouraging small businesses across Australia to apply for the chance to win an incredible grant package worth $10,000 with winners announced in October of 2018.
Should you be successful in the GRANTS FOR GROWTH initiative, you will receive a grant consisting of a combination of cash funding plus vouchers from the likes of Officeworks, as well as expert business/bookkeeping services from members of the highly skilled H&R Block team.
Feeling frazzled? No need to get overwhelmed, simply pick one or two of these ideas that work for your business and get your plan for growing your business underway.