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10 Steps to Grow your Business

Step 6: Develop New Channels

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First, congratulations! You're halfway through the 10 Steps to Grow Your Business! Now, on to Step 6.

There are many ways to get what you sell in front of prospective customers. In this step, we discuss a number of the “channels” you should consider to connect with customers and grow your business.

IN THIS STEP, WE'LL EXPLORE THE BEST WAYS TO:

  1. Tap the Web
  2. Create a Catalog
  3. Use Sales Reps
  4. Go Global
  5. Add Wholesale
  6. Try Brick-and-Mortar
  7. Add New Locations
  8. Weigh the Franchise Opportunity

Tap the Web

Think about what’s happened during the past decade alone. Let’s look at the real estate industry as an example. Ten years ago, about 10 percent of the house-buying public was going online to find new homes. Today, 77 percent handle their searches online, according to the National Association of Realtors.

Or, consider that 70 percent of adults use the Web. And you should use it to reach them. If you’re not online now, regardless of your business type, chances are you’re missing valuable opportunities for additional business. In an age of short attention spans and a growing need for instant gratification, Web surfing is more appealing than ever to business and retail consumers.

Here are things you can achieve by tapping the Internet:

Messaging

You can establish your brand image and express key features or aspects of what you offer.

Transactions

You can sell your products through the Internet.

Satisfy a consumer’s impulse

On the Internet you can sell at “the speed of thought.” In essence, as quickly as someone has an urge to buy, you can sell it to them. Compare that to a brick-and-mortar store that’s open from 9 to 5 and only in one town.

Deliver collateral material

Instead of printing fancy brochures that are static and require delivery, you can electronically create a PDF file of your brochure for people to instantly.

Track and perfect

As described in Steps 1 and Step 2, you can easily learn what’s working and what needs fixing via online analytics, so you can grow.

Find out more in StartupNation's 11 Steps to Create a Successful Website.

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Comments

I just finished the legal docs to franchise my biz Hooray for Books teaching kids age 2-11 to read w/ a side of cooking & a cup of humor! Would love to connect with other franchisors as this seems like a whole other biz I am starting but I know I have a very unique concept combining learning, cooking & fun and offering owners a great quality of life too! Always looking for great tips from others and SUN. I'm self funded so trying to get word out on limited budget has its challenges!

Are there many franchisers here?  

From day one of your conceiving your product/service, its important to consider becoming a "Franchisor" - Have enough depth in your product offering so that you can create a "Franchise Prototype". This will surely open up a whole new world where you can farm out your business model accross many geographic reasons and create many franchises out of your business model. Don`t think small business, but think of how your small business can replicate itself through pre-established systems/franc...

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