How to Grow a Small Business

Once you have started your own small business there are a number of ways you can grow your business larger. Even in a bad economy it is possible for your business not only to survive, but to thrive.

In fact, many of today’s largest and most successful businesses were started in the midst of the Great Depression of the 1930’s. So you should have no trouble increasing the size of your small business, and hopefully also increasing your profits.

There are only three ways to make more money with any business. They are number one: Get more customers. Number two: Get your customers to purchase more. Number three: Get your customers to purchase from you more frequently.

The size of your small business is directly proportional to the number of customers you can acquire, and the amount of goods or services you can provide.

It does no good to vastly increase the number of customers your business receives, if you are unable to supply their demand. Conversely, it does no good to increase the amount of goods or services you are able to source if your customer pool is not growing as well.

Therefore, while the only way to grow your business is to get more customers, you must also grow your ability to supply those customers at the same time.

Only if you can do both things, which is to get more customers and build your supply while still maintaining a positive return on investment, will your business be able to grow.

Now then, if you already have a small business or large business for that matter, and have grown it to a particular level or reached a plateau and now you wish to grow your business even larger, you stand in very good stead.

Assuming your business is currently profitable it is a simple matter to redirect a portion of your profits into avenues that will help you to acquire more customers and to build your supply of products or services.

Much of this can be done with outsourcing, and if you develop effective systems for customer acquisition and streamlining your supply chain, then simply increase profits and finance even further outsourcing, which will even further increase the size of your business.

That said, it is possible to develop a system for your business which will allow your business to continue to grow while you personally have to do less and less work.

One of the fastest ways to acquire more customers for your business is to be tracking the ways your business is successfully obtaining customers currently, and then simply do more of that.

Another good way to grow your business is to be creating a mailing list of your current customers, and then mailing to your customer list and giving them special offers or special promotions. Perhaps even give them limited time coupons or incentives for making referrals to your business.

Another way of growing your business, which is often overlooked, is to encourage your current employees to offer ideas on business growth and ways to improve your current business.

Doing this has the positive effect of generating positive morale on the part of your employees. They feel like a more important part of your business. Who knows, maybe some of their ideas will help your business to grow even faster and bigger than you yourself could imagine.

Calvin Brown is a wealth creation expert and author. He lives in Anacortes, WA and spends his time teaching others how to create wealth. For more information about how to grow a small business and increase your income, check out his latest book, “The Money System” which is available at http://www.money-system.info

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