4 Ways to Grow Your Small Business

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4 Ways to Grow Your Small Business
Published in The SOAR Experience | over 1 year ago

Today we explore some tools that are available to small businesses that will help them scale more efficiently

As your business grows it creates new challenges. How do you attract and retain key employees? What tools are available to help you remain organized? What can help you navigate the growing complexities of Human Resources? How do you continue to stay engaged with your growing customer base? How can you increase the efficiency of your current Employees? These are just some of the questions that arise when business owners are looking to scale. So today we explore some tools that are available to small businesses that will help them scale more efficiently.

Hiring and Retaining Top Employees

The reality is that hiring decisions are more important for small business owners than in any other space. The costs associated with employee churn or a poor hiring decision can leave a lasting impact. One key way to gain an advantage is to offer employees the benefits of a large corporation and combining that with the culture that only a smaller business can offer.

One way that can be done is by leveraging the services of a Professional Employer Organization (PEO). A PEO partners with SMB’s to assist with Human Resource Outsourcing which includes the ability to offer a wide range of benefits for employees that normally only larger companies would have access to. By leveraging economies of scale through a Co-Employment relationship the PEO can offer a more luxurious set of Health Plan, Life Insurance, Disability, Dental, Vision, Retirement (401k), and other Employee Benefit options than what is made available to a small business on the open market. Gaining access to these programs allows SMB’s to present employees with generous benefit packages at discounted rates. This presents a win win scenario as Employees are given an edge that may not exist at other companies and Employers have a tool that provides a perk to employees at a cost savings.

When considering a PEO it is a good idea to work with a PEO Broker or PEO Consultant who can help you understand which PEO companies are going to offer the best solutions that fit your needs. We spoke to Aaron Gould at PEO Focus who said “Working with a PEO Consultant allows a business to have a PEO Expert in their corner as opposed to solely relying on individual sales reps within each PEO”. We agree that there is value in having these consultants keep these negotiations transparent in addition to them saving you time and money throughout the process.

Employee Health Benefits with a PEO

Employees Desire Better Health Dental and Vision Benefits

Make it Easier for Potential Clients to Find You

This goes beyond having an attractive Website, a Facebook Page, a Direct Mail campaign, and implementing any other traditional advertising methods that apply to your industry. This is about finding ways to take your advertising game to the next level with a healthy increase in your return on investment.

The idea here is to find out how people are searching for you, not just being in places we all know they search. Does every business want to be ranked high on Google? Of course they do. How about having your business trending on Social Media for positive reasons? Another yes. Marketing has changed and it is now about how they find you in addition to being found. In this case, content is king.

In addition to your typical marketing strategy, you are going to want to start creating as much content as possible that focuses on educating your target audience. Develop “How To” videos for Youtube that you then post on your website and every other social media outlet you are connected to. Articles and Presentations that can be added to LinkedIn or Slideshare. Blog posts that incorporate your vendors. You can then optimize this content so it is found by your target audience in the geographical area that you want it to be found in.

This now allows a Plumber to not only be found when a prospect googles “Plumber Atlanta GA” but also when someone Googles “How to unclog a drain”. If they find a video and article by your brand that helps them fix the problem they will now trust your brand. As an added bonus if the problem is something that is unable to be corrected in the video then the Plumber would have an increased chance at having that prospective client reach out to them. “We posted informative and educational blogs that delivered tips and advice to potential customers” advised 1SEO, an award winning Digital Marketing Company that helps businesses grow by connecting them to their desired client base. Once you develop some content you can begin publishing it through various social media channels and have it published on news websites to increase your brand and deliver traffic from people who need your product or service.

Increase Client Conversion Rates

While making it easier for potential clients to find you as we just discussed will deliver warm leads with high conversion rates, it is important to increase your conversion rates from all lead sources. Imagine what an increase of 10% on conversion rates could do for your business.

The quickest and easiest way to make an immediate impact is through employee training. We often see Small Business owners invest in their people in the form of Salary, Benefits, Events, Parties, and a dozen other ways. We often however also see them undertrain their team in the 2 key areas of Customer Care and Sales.

The more prepared your team is to answer questions quickly, demonstrate value, and provide prospective clients and customers with decision making information will ultimately lead to an increase in revenue from current lead sources and your existing client base.

The quicker you invest in your current employee base to increase their efficiency and confidence in their work will have a direct impact on how quickly you begin to see revenue and client growth.

Get Organized and Increase Efficiency in Your Calendar

Every Business Owner wishes they had more time. It is the one thing that cannot be created and is the most valuable commodity for every entrepreneur. Time is often wasted between colleagues and clients when trying to identify calendar times that work to meet either in person or on a call. Especially when there are more than 2 people trying to identify where there is an opening in everyone’s calendar.

Calendly lets others schedule a time to work with you, so you don’t get caught up emailing back and forth trying to schedule a meeting. You can embed Calendly onto your website or share it via email. Whoever you are trying to schedule a meeting with can see what times you have available and schedule an appropriate meeting which you are then alerted to and the time is blocked off as it updates your calendar.

Improve Meeting Scheduling

Calendly

Calendar Scheduling For Business Owners

Need to schedule a meeting with your team? Calendly can even identify what times they all have available and sent out invites accordingly through its Round Robin feature. Want to schedule a group webinar, no problem as the software integrates with all of your current conference call solutions. With a 14 day free trial we certainly recommend it as something to try that will help save you time and grow your business.