Starting and sustaining as a small business is actually cumbersome in today’s tough economy landscape.
Do you know there are only 50% of the startups that could survive for 5 years and only a few of them could make it to the top 10? This graph manifests how grueling and difficult it is to survive and sustain in today’s world. Absence of the right growth strategy is one of the major causes of most of the startups’ failure.
Creating a well-planned and effective business growth strategy coupled with several other vital aspects could actually push your business in the right direction. A growth strategy is not about just having a long-term goal but it also should have a tangible and sound plan.
Be consistent and motivated in every step of your growth plan. Define every step you are going to move forward in your growth in a fixed interval of time and ignite as much fire as possible to rekindle the spirit during your long journey of growth travel. Here are some killer growth strategies that can work for your small business if you implement it mindfully complementing with other boosters of your small business.
Define a Value Proposition To survive and sustain a long-run, you should know and define what is unique and offbeat about your business that sets it apart from the crowd! Find out and streamline why should customers come to you and not go anywhere else? What makes your business so relevant, distinct and credible? Answer these questions to narrate to your customers why they should deal with your business shunning away thousands of other options.
This story is from the May 2019 edition of Small Enterprise.
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This story is from the May 2019 edition of Small Enterprise.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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