Business growth advice

Discussion in 'Growing and Managing a Business' started by jssndjy, Jun 21, 2012.

  1. jssndjy

    jssndjy
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    Hello,

    I am looking for advice on growing my business. We are a small service business with potential growth opportunities. I do not have good social or interpersonal skills. Some clients I have can bring in more business if I could sell them our company but I am not good with that. I also have ideas on how to expand but I do not know how to make them a reality. We have been in business for 2 years and have revenues over $300,000 and growing with profits of $100,000+. Which is great as I was always was use to making under $40K. but I think we can do much better. Plus I cut a lot of corners trying to make as much as I can. My question is what type of employee can I get to help me grow. Should I get a sales person, Manager, CEO or ? I am very hands on and I am also looking to slow down my role and have other personnel run the business while I oversee them. This does not need to happen right a way but in the future I would like to step back and do less but still have full control. Any advice is greatly appreciated.
     
  2. Productdesign

    Productdesign
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    Hi Jssndjy,
    That entirely depends on what is your line of business and what is your organizational structure as of now. Where exactly do you lack?
    Do a SWOT Analysis and then decide the weak points. After that you will be able to judge what kind of professional do you need.
     
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  3. Fergal

    Fergal
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    Well done Jssndjy on bringing your business so far. Those figures are great and they are something that you can be very proud of.

    With regards to hiring a sales person, I'd suggest you consider the following;

    • Would it free you up to spend more time on the activities that you are good at and that only you can do for the company?
    • Would the person you hire have anything close to the same passion and drive that you bring to the sales process?
    • Who would support a new employee and induct them into the company?
    • Would it be possible to hire a sales person on a commission only basis, so that it would only cost you if they achieved results?
    • What other options are available, e.g. perhaps you could consider using agents or distributors to increase your sales?
     
  4. cesspadilla

    cesspadilla
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    Well you can hire someone that can help you in those things you need so that you can focus more on expanding your business. SWOT analysis might be a great tool to use in that situation.
     
  5. harryt

    harryt
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    Consider the different roles in your business (not people, roles). What is being done and what will you label it (using sales person, admin etc).? Which of these roles do you like doing and are good at? Which do you not like doing are are not that good at? Consider hiring someone to do the latter. Ask yourself how this person will add value to your customers and to your ability to deliver to customers. Initially you may hire someone to help and assist and later more to manage.

    To sell yourself ask yourself how you can help your clients. Then talk to them and tell them how you think you can help them. Often clients appreciate someone who genuinely want to help and we all realize the person is also marketing themselves. If you are enthusiastic about how you can help them that will go a long way.
     
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  6. Krisz Rokk

    Krisz Rokk
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    Definitely update your SWOT analysis if you already have one. What are your strengths? What are the strengths of your business? Always play to your strengths and don't waste your time on the weak points. Focus on the needs of your customers and provide the appropriate solutions.
    If you need a good marketing or sales 'player' in your team - get one fast. If you're good with analysis or operation, stick to that. Let the marketing / sales person do the pitch.
     
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  7. Bharat Book

    Bharat Book
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    I agree with the opinion of Krisz Rokk.First of all you must focus on the need of customers and according to their demand,you need to provide services to them.before starting your business,you have to study the current market situation.For that you can refer different market report or books which provides data on market research,market survey etc.It will help you.
     
  8. jcworlditsme

    jcworlditsme
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    Indeed, I would say that in any business venture, customers should be the top priority.
     
  9. Choice Checks

    Choice Checks
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    Customer service and always exceed your customers expectations is the best thing for any business. Take care of them, and they'll take care of you. With the economy being bad as it is. Growing the business is harder than ever before. Use to be everyone is buying, but its slowing down. Read up on UPS and FedEx. They are usually a good with letting us know how or what the economy is doing along with banking news. Good luck and work hard as it will pay off in the long run.
     
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  10. rosstaylor

    rosstaylor
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    your are right Krisz Rokk because positive points always give the positive result.

    hi
    jssndjy
    I think that you have need to study on your business I mean that what is the strengths of your business in market and also you should read the market research report related to your business.
     
  11. Ronei Daselva

    Ronei Daselva
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    To grow your business , you need to go socially. There are lot of option and strategies to work online and promote your business. I will recommend you a freelancer to share your business online.
     
  12. revgenteam

    revgenteam
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    jssndjy,

    Before you can step back from your business, you have to look at what it is that you "do" in the business. You have to find a way to replace all of these things. For this, I would recommend reading "The E-Myth, by Micheal Gerber" This will teach you how to work on your business, rather than work in it. It will show you how to do this through processes, and policies.

    If you are looking to make your expansion ideas a reality, try some of Doug Hall's books. He teaches how to turn innovation into a reality. When I read his books, I implemented things in my business that changed the way we do it. While we are on the topic of innovation, Eric Ries has a book called "The Lean Startup" this book teaches how to implement these ideas too. I would check out these two authors if you haven't already.

    Please e-mail me if you have any other questions, I have read a book on just about every topic and tested these ideas as well. I would love to help you grow your business!

    Thank You,
     

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