November 18th 2021
There are a multitude of ways that you can begin to plan your future and grow your business. Whether you’re a new kid on the block in a big industry looking to make an impact, or a larger enterprise looking to take a big step, there’s always more that can be done.
Nowadays, sustainability is at the forefront of many business-owners’ minds, and as people are returning to the office, we are reminded of how up to £60m in energy is being wasted by office buildings in the UK every year. It’s a staggering number, but if you’re looking to grow as a business, you’ll need to take so many things into account, including where you base yourself.
It’s vital to understand that business growth starts from within. Your teams, your working environments, and your drive to move up in the world. So, we’re going to outline some key steps for growth you can take, no matter the size of your business.
Small Business, Big Aspirations
So, you’re a small business owner looking to scale your business and turn over more profit. You could be a mobile hairdresser, offer online tutoring, run a small catering business, bakery, or web design company. There are many things you can do immediately to boost the reach of your small business and take on more clients or draw in more customers.
Social Media – The New Frontier
Think about growing your social media presence. We’re living in the digital age, and there’s no better way to reach more people than posting about new products, services, or developments in your business. Keep your followers in the loop on all of your goings on! Invest in new financial and CRM systems, automation opportunities, or look into expanding your website and your e-commerce possibilities.
Adapt Your Space
You can look to expand your office space to accommodate more employees, and in turn, help to cultivate a fresh and positive company culture among your workers. If you think you’re ready for this step, take a look at our step-by-step guide to moving offices for a handy breakdown on all the steps you’ll need to take before moving day, and head over to view some of our serviced offices to find your new home.
Improve Customer and Client Loyalty
You should always be looking to grow as a small business. Forecasting for growth should be a key pillar in your business strategy, and you should be adapting your approaches to practices regularly to ensure you’re always moving forward, not backwards. Your client or customer base should feel like you’re on their side and establishing loyalty with them is pivotal in retaining them for the long haul, and convincing newer customers that you’re worth their time and money. Also look to grow beyond your main base and try to appeal to more audiences. Complacency never benefits a small business, and if you’re a start-up looking to take the next step, have a read of our Growing Your Business From Start-Up to SME guide.
Progressing as an SME – Taking a Bigger Step
So, you’re doing well, and you’re now a small to medium enterprise. It’s vital that you don’t let all of your progress and hard work slip now. At this stage, you need to ensure your focus is on building on what’s already been done, without compromising your established practices and methods.
Customer Service
Look into how you can refine your customer service approaches, how your customers or clients interact with your business. Projecting a strong business front, whilst still taking into consideration their feedback and concerns is key here. You can also attend networking events to meet with other business owners and look for opportunities, as you directly promote your business to potential future partners.
Find the Best New Talent
Taking on new employees is a big step for any business, and you should always look to recruit the best talent. If you’re looking for some tips on how you can get the best people for the job, consider improving your recruitment process.
Monitor as You Grow
Now is the time to take a deeper look the inner workings of your business and see where more growth could lie. Run analytics against your income and outgoings, your growing customer base and what they seek from you, and which parts of the business are either succeeding or failing. As you do this, you are able to adapt and refine your expertise to provide your customer base more of what they need, without having to redefine your business goals. Always be thinking about different revenue streams – can you launch new products or services to accommodate any shortcomings in your business?
Although you should be adapting to new challenges and opportunities alike, you should always maintain consistency in how you project your image to the world. This will ensure your customer base can see your growth and will recognise that you are making changes for the better – and for them. Brand familiarity is key to maintaining a healthy and engaged clientele.
Large Enterprises Should Never Stop Growing
So, you’ve made it. You’re a large enterprise and you’re fantastic at what you do. You have a large customer or client base, and you’re looking for new ways to innovate and grow as a business.
New Launches
Now that you have the resources at your disposal, look to continually launch new and exciting products or services that will keep your customers engaged and purchasing from you. Launch campaigns to support these new releases, and always keep an ear to the ground as to what worked and what didn’t.
Partner Up
Form strategic partnerships by joining with another business of the same size or smaller to exponentially boost your capabilities and revenue. Always keep in mind, if you partner with another company, that you’ll need ample space to accommodate the growing headcount, and all of the new talent that has arrived. You can think about expanding your office space, and we’ve got a great selection of serviced offices and managed office spaces that can ensure all of your employees are happy with the big new change.
Think global. Think international.
You’re at a stage of your business when staying local should no longer appeal to you. Consider moving into international markets to get a bigger piece of the pie. Expand your expertise even further by becoming a credible source of information within your industry. Think beyond your products or services and convince your customers to come to you for your advice and recommendations too. Your offering doesn’t just have to be a physical product, in this day and age, information is king.
So, whether you’re a budding new business looking to grow, an SME flourishing in a pond but looking to the sea, or an established large enterprise after world domination, there’s always more that you can be doing to push towards that next big step.
Regardless of your business size, you’ll always need a base of operations. For small businesses, we suggest looking into a co-working office set-up, and for larger businesses and SMEs, our serviced offices and managed offices will have you covered so you can focus on what’s really important – growing your business.
