Starting a business and making it successful are two different things. Business success depends on various factors such as marketing strategies, process, revenue model, communication channels, technology tools, team, product, and customer support. But what are those top 5 things if you do them right you can make your business successful?
To make a business successful we don’t need a unique product and low competition niche and too much money. These things also matter but you get them rarely in your 1st startup or in the beginning.
Especially when it’s about “Start with whatever you have and grow day by day”. Starting a business in a competitive market and niche is more beneficial than looking for a unique product.
When working on a unique idea you will get uncertainty and survival challenges. It’s good for those who have enough money, experience, network or investment to afford the failure and start again.
But this post and ideas are for those who do not have lots of money, unique business ideas, low competition, the right location, and top-quality products or services. And especially those who have invested their own or those who borrowed money from parents and friends.
Actually, you will see that those who started businesses or their career in the most difficult situation and in poor financial conditions are now legends.
And those were started with lots of money, and funding and got media popularity are struggling to pay ROI for banks, investors, and small traders.
Money is power in business. But I don’t think that only having lots of money is important to make a business successful.
Actually, nothing makes the business more successful than the customers. Only your customers or clients will make your business successful. They will make it successful by paying you for years when they get results and success by using your product and services.
They will use your digital products, digital services, and skills when they find it’s better and increase their sales and business growth rate from current to the next level such as 5% to 10% or 10% to 50% or more.
And personally, I do not use any product or business service until it’s not contributing to the success of my business practically without decreasing the customer experience.
Earning $100 profit is far better and more valuable than earning $500 through poor business ethics or by decreasing the customer experience and product value.
My best advice is that when dealing 1st time with the customer, then think about the next 50 years of business with that customer.
So now let’s understand, what are those top 5 things you can do to grow and make your business successful in a shorter period of time such as within 6 months.
While all of these 5 essential things are important for all types of business. But the focus is more in this post on digital marketing agency owners, publishers, SaaS businesses, and technology-related online businesses, products, and services.
Top 5 essential things to do in business to make it successful within 6 months:
If you research and observe you will find there are hundreds of things that need to be done to make a business successful. But those 100’s things still do not work if you do not work on these 5 essential things in your business to make it big and successful.
So, let’s get started:
1. New customers – Marketing and Promotion
Your 1st and most important goal of the day as a small business owner, digital marketer, SEO expert, freelancer, and developer is to get new customers.
Might be your existing customers paying $100’s dollars monthly still you have to find a new customer that will pay you $500, $1000, and $2000.
Never depend on business income and expenses on a single client or customer. Always be in the growth mindset and keep building relationships.
To get more customers obviously you have to market and promote your business.
How to promote and market your business to get new customers?
Create content that your target audience and customer need to see today, next week, and this month. Use your experience, current trends, and data analytics to come up with creative ideas.
Content marketing is one of the highest value-providing marketing both for businesses and customers. Take the full advantages of organic traffic, blogging, YouTube, social media and content marketing tools to get more customers.
Content marketing is less costly than PPC or social media ads and is best for small business owners to create opportunities to get more customers. Even you use social media ads to promote your content.
If you want to generate leads more quickly and want 40 to 50% growth in new customers each day or month then use the PPC search engine, display advertising, and social media advertising.
Along with that also try to connect with industry leaders, network with content creators, publish sponsored guest posts for backlinks, and promote business through events and word of mouth.
When you get new customers regularly your cash flow, income, profits, and savings increase. And you can use that money in using more advanced technologies and tools in your business, you can hire experts to deliver services, and you can expand your business.
That’s why marketing is the most important thing you should do each day to make your business successful.
2. Increase the rate of returning customers – Improve the product and quality of service
Getting new customers is important and easy at the beginning of the business. But you will not become successful in business until you will not increase the rate of returning customers or get more repeatable customers. I also mean here about referrals from old customers. Getting new customers from the existed customers.
Getting referral traffic and returning customers highly depends on the quality of your products, services and support.
If your existed customers are not happy, they will not refer anyone to your business.
For this, you have to improve your communication, support services, and product.
To improve the quality of your digital marketing service or social media content, and customer support you have to use the right technologies, need to improve your skills and you have to think 24/7 about delivering and helping the customer more than their expectations.
And you can’t get new customers all the time and you can’t always spend all of your income on marketing. You also have to pay rent, subscription fees, salary, and many other liabilities.
The only thing that you can do best in this situation for marketing is by increasing the quality of your services, customer experience, and speed of delivery.
When you start getting new customers without marketing or without investing too much in the paid online marketing campaign you will be able to save money, you will be able to hire experts, able to expand and grow your business.
For example, generating $1000 revenue from 1 SEO client is a far better business model than generating $1000 dollars from 5 clients. Similar, getting working for one digital marketing client in one business niche, location is more beneficial than delivering services for 5 clients in one niche and location.
So, the point is you have to be smart, and intelligent about how you can deliver the best service at a good price, how you and your team can perform best, how you can improve the quality and how you will be able to generate more revenue without reducing customer experience.
3. Positive Cash Flow into the business – Right Business/Revenue Model
Your monthly business transaction can go up to $10000 dollars and even more. But how much is coming into the business and how much money you’re saving from the income matter the most?
You have to continuously track your expenses, ROI, and income from digital services and sales.
You have to invest your money in the right marketing tools and infrastructure. For example, it’s far better to buy an office space than to pay monthly rent for that.
If you have a monthly office rental that is 50% of your business income or profit then I don’t think you will be able to save money to expand your business.
Similarly, if you’re not saving at least $100 monthly from the profit of your business for yourself then when you face a financial crisis and recession you will not able to pay rent. And when you don’t in the position to pay office rent, think will you be able to grow your business?
The best and better strategy is to create and work on a plan that reduces the biggest cost of your business. If it’s office rent, then you have to do something so that you can buy that space or reduce that cost and turn it into an investment. There is a big difference between paying rent and paying an installment of a loan.
It’s risky, but that’s why you’re in the business and wanted to become successful.
Also, you have to work on getting paid for your services on time. Don’t hesitate to ask for your work payment. Don’t build the wrong financial habits not just for yourself and not for your clients.
Always be professional and confident in pricing and money deals. Charge what you deserve. Reduce the negotiation level as much as possible on money-related matters. Make it easy and straight.
You can test and experiment with different revenue models such as SaaS and digital marketing agencies.
4. Fastest production/delivery speed – Productivity/Progress/Technology and Team
If you can’t deliver products or services faster than your competitors then don’t promote and sell that.
Only choose the 1 or 2 digital or technology services you can deliver fast in the beginning.
For example, as a business owner, I don’t want to invest 1 month in designing a simple WordPress website for my business.
Do not make it a habit of delaying the services, especially on those works you got money in advance.
The more time you take to deliver the more time it will take your business to grow.
Build a good production and delivery process. Use the right collaboration, communication, payments, and productivity tracking tools. Hire the right professional even if you have to pay 10% more.
The goal is always to become the fastest in producing quality and value for clients.
Do it with marketing, content creation, and publishing new content as well. You can’t spend 20 Years to earn $100000 monthly revenue in business. This is a different era of Business. You have advanced technological tools, reach international experts and professionals, you have an instant payment delivery system and digital marketing platforms, and the most demanding generation of customers. So why not take full advantage of such an amazing opportunity for business growth created with Technologies.
If you still say I can’t do that. Then don’t do business, do something else. If you want to make your business successful then make it and believe I will do it.
No one can stop you from your achieving your goals, not algorithms and not competitors. Instead, use them to grow your business.
5. Provide the right solution at the right time: – Innovation and Creativity
No business can grow without innovation and creativity. Innovation and creativity come into the business when you understand and predict your own business and your customers’ future problems and technologies. So, you can build the right product, content, and solution.
For this you have to read reviews, you have to talk with your team members, you have to hire consultants, you have to improve your listening skills, you can learn and improve your digital marketing skills, you have to analyze data, and have to do everything that can help you to observe and think about what will be the next?
One success formula does not stay too long in the technology and marketing business. Nor you can depend on one source of revenue for too long in the business. In times of success and failure, you always have to think that nothing is permanent.
If you’re successful and getting a profit don’t think it will remain forever. And when get fails do not think it will remain the same for years.
You just have to work daily on the above top 5 things so that you can grow continuously without getting impacted by failure and success.
Success and failure are part of life and business. We can’t do much about it. But we can stick to our plan and keep following the process. And when spark the idea then do that with full confidence and capacity.
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