During tough economic times, it can be challenging to grow your business. However, if you are passionate about your company and are focussed on delivering real customer value while staying true to achieving your goals, you are more likely to succeed. Here are a few ideas on how you could grow your business:

1. What makes your business unique?

You can’t be everything to everybody. Find the unique selling points that set you apart and create a 20 second ‘elevator’ pitch that summarizes your business’s products and uniqueness. This summary will help you to focus on branding and marketing efforts, will help you establish growth strategies and will provide the core for conversations with those you are trying to reach.

2. Sell benefits, not fancy features.

Remember you’re selling a result, not a thing. Avoid focussing on the characteristics of your product rather than on how it benefits your customer. The most effective sales conversation begins with questions to determine if your prospective buyer has a need for what you’re selling. The goal is to match your products and services to what your prospect needs. If you can’t make a match, move on.

3. Grow your business around your existing customers.

Business growth can only take place if your current customers are happy and satisfied with your service. To ensure that your customers remain loyal, you can consider implementing customer reward programs such as discounts and extended payment terms.

4. Learn from the experts.

Shifting perspective from inside your business—the daily details of running the business, to outside the business—developing a strategy for growth, researching markets, understanding competition and so on, can be daunting. Look for ways to harness the expertise and experience of others through networking. As time permits, join associations and attend meetings. It takes time, but can yield benefits without requiring capital.

5. Is your business adequately covered?

One can often forget about important operational details such as making sure that you are properly insured should the unexpected happen. Adequate business insurance is essential – remember as your company changes so should your business insurance.

Speak to your Indwe broker today to make sure that your business is properly covered. Visit www.indwerisk.co.za or call 0860 13 13 14.