Growth

Smart Ways To Grow and Expand Your Business

Grow and Expand Your Business

Smart Ways To Grow and Expand Your Business

Starting a business is often a risky and bold move. A lot of time, research, skill, and labor is needed to get it off the ground. Once you’ve gained a bit of stability, the next step is to make it grow and expand. Below is a list of some tips and tricks that will help your business grow in success and increase revenue.

1. Go online

It’s the age of technology and advertising your business online is a great way to attract more customers and showcase what you have to offer. Creating a good website or joining social media can increase traffic and get your name out there.

2. Hire good employees

A well-performing team is integral in growing a business. Hiring the right people is a sure fire way to see business grow. What you need are hard working, motivated, and dedicated individuals to work for you. It won’t matter if they come from the best schools if their character is not a good fit for your company.  Here is a video on hiring good employees.

3. Create a good work environment

After hiring the right team, it’s important that they’ll want to stay with you. It creates loyalty to the organization which leads to employees who will stick around for a long time. Be a good leader who encourages people, create a professional and enjoyable environment, provide good benefits, and promote the right culture.

4. Invest in insurance

Owning and starting a business will always come with risks as such, it is necessary to look for a good insurance provider. Stolen ideas, product design, customer data, and other factors can impact a business and lead to lost revenue. As a business expands, new elements are added such as equipment, products, services, or opening a new branch. Regularly monitoring your insurance policy to make sure everything is covered is a way of safeguarding your business.

5. Be open to change and adapt accordingly

The only thing constant in this world is change. Trends come and go and it is necessary for businesses to adapt if they want to stay. When changes in the market happen, you have to be able to switch directions to accommodate them. If not, your enterprise risks being left behind.

6. Be passionate about what you do

When an employee loves their job, their boss often notices it. Likewise, you should provide a good example towards your employees and love your business. Being dedicated to growing your company and showing enthusiasm isn’t a bad thing. It leads to positive emotions which influence how your workers do their job and see you.

Finance

5 Way to Find Investors For Your New Business

One major concern of any new business is funding, the more funds you have, the faster you will get your business running. Most new startup ideas are left hanging due to the issue of funding; finding the right investor who can trust in your vision and provide you with the needed fund to realize it, is an utmost task to most entrepreneurs. So we had come up with 5 ways to find investors for your new business.

Make use of start-up launch platforms

There are several platform that provides information and assist you to getting your business launched, these platforms also have ways connects you to several investors. They help you to raise funds for your new business. Startups.co is one of them; it has raised more than $13 million for its new business, making it the world’s largest startup community. You also get connect with several investors on this platform.

Try Private Equity Firms

If you have a great idea, that can excite these private equity firms, then you are sure of getting the needed investment, they provide funds to new and old businesses looking for investors. The private equity firms have invested more than $400 billion in over 3000 companies in the US. This is one viable way of getting investors for your startup.

Get funds from Small Business Administration

Another way of getting investment, is to source for funding from small business administrators. They provide new and existing small businesses loans and grants at very favorable terms and unlike most source of funding, they don’t interfere with your business. They are the best choice if you don’t want to give up your equity.

Search on Angel Networks

The term angel funding is very common with new businesses, an angel investor funds your business and provides you with the right mentor-ship. There are several platforms where you can meet angel investors who would invest in your startups. These platforms already have thousands of investors waiting for the right start-up to invest in. they include; Angel capital association, Funded.com, Angel investment network etc.

Acquire funds from online lending platforms

The limitations involved with getting a bank loan for a new business, really leaves most entrepreneurs with very few options. One way is getting funds through online lending platforms, these platforms includes peer to peer groups, non- traditional lending sources, and even large investor looking to help you out. They include, OnDesk, Lending Club, TrustLeaf etc.

Those are the top 5 ways you can find investor for your new business. However, you can also get investments from family and friends, they already know and believe in your ideas and would most likely support you. Nonetheless, it is advisable to have all such investments in writing.

You can also make personal efforts at making yourself visible to investors by creating a presence on social networking sites, websites, blogs and other platforms where investors are bound to be.