The short answer is “yes”, but you won’t achieve that goal on the basis of motivation alone. Obviously, entrepreneurial spirit is integral to your success, but it needs to go hand in hand with entrepreneurial knowledge. Any small business can grow with the right investments and improvements to the company plan. If you have big dreams for your empire then it might be time to make some changes. Could your business take a bigger chunk of the market? Yes. Let’s discuss some possible routes to success.
Unite your workforce.
Workers create unions to protect their interests from their employers. But if you work hard to unite your workforce (including yourself in the picture) then you won’t have to worry about a sense of separation between the team and their boss. And this is essential to your success. If your business is going to take a bigger chunk of the potential market then it needs to be driven by a cohesive and passionate workforce. Unite your workers and value them. Create an open office to encourage collaboration. And opt for a modern workplace that promotes interaction; the days of dull grey office cubicles are disappearing for a reason.
Contemporary offices in new companies are bright and engaging. You might want to put a pool table and a few sofas in the breakroom so that employees have ways to unwind during their lunch breaks. People can only be productive if they work in the right kind of environment. They need to be able to relax and recuperate on their breaks. The open office space will also help you to connect with your members of staff as their employer too. You don’t have to hold meetings too often because you can just address your team in the main office. This will help to keep everyone on the same page and be much more time-effective than regular meetings. Expanding your client base to take a bigger chunk of the market is all about organising your team to be as efficient as possible.
Develop a professional image.
At the end of the day, winning over a bigger portion of your target market comes down to branding. You need to present yourself in a way that’s more appealing than the competition in your marketplace. This all starts with a professional image. Your small business needs to be presented as a company that’s just as reliable as the big corporations in its industry. You might want to consider getting a virtual address for your business if it’s not being run in a proper office space. Having an official business address makes a good impression on potential customers. Even if the mail ends up at your home or the rented office you and your team are using, the perception of professionalism is all that matters to the target market.
Always remember the underlying customer base.
Taking a bigger chunk of the market is about chasing and securing new leads without neglecting your current customers. Yes, you need to find new buyers if you want to expand your client base, but you need loyal buyers if you want that client base to grow steadily. The expansion of your business in a competitive marketplace depends on your relationship with your customers. Reward loyal clients with discounts and freebies as a way of thanking them. If you value them then they’ll value you. Of course, you should use your existing customers to refer your company to new customers too; you can’t rely on any client sticking around forever.