While there could easily be an entire book written about what it takes to create a profitable company that can withstand the test of time, here are three recommendations offered by those who know what it takes to build a grow a budding business: company founders and CEOs.
Market to the Right Audience
One of the most basic foundations of creating a solid business is to know exactly who your client is. It is understanding their demographics (like age, gender, and where they live), what their aspirations are, their biggest problems, and why they would benefit from your products and services.
Take that one step further and, not only do you need to know who your audience is, but you also need to market to them specifically. According to founder and CEO of Clients on Demand Russell Ruffino if you don’t and market to anyone and everyone, you’ll render your campaign ineffective.
For instance, based on your ideal client, what type of ad would be most appealing (video, blog, something else)? Whatever it is, that’s the type of ad you need to create. And what social media platforms do they use most often? These are the same platforms you should advertise on as well, putting you before them again and again.
Set Business Goals
Another piece of business advice offered by Mike Kappel founder and CEO of Patriot Software, LLC, is to take the time to set business goals. These goals have a way of ensuring that your business stays on the right track.
They also serve as a reminder of what it is you’re working toward as well as giving you a way to better identify whether your company is achieved what it set out to do. In this way, your goals become a yardstick that tells you where you are in your business journey.
So, what goals do you have for your business? Where do you want it to be five, ten, or twenty years from now? How will it be different than it is today?
Show Your Customers They’re Valued
Everyone likes to feel appreciated, and this couldn’t be truer in business according to Jeff Charles, founder of Artisan Owl Media.
That’s why it’s important to show them that you value their business by offering the highest quality customer service you can.
If they have a problem, take care of it immediately. If they have questions about your products, services, or processes, answer them. The more comfortable you make them, the more likely they are to stick around.
Speaking of sticking around, Charles also recommends showing customers that their repeat business doesn’t go unnoticed. You can do this by offering special discounts or promotions through a type of loyalty program. Taking this approach will also keep them coming back for more.
If you do these things—market to the right audience, set business goals, and show your customers that they’re valued—no doubt 2019 will be your best year yet. A year that could potentially go down in the record books solely because you followed three simple pieces of advice.