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  • Entrepreneurship

Growing Your Business 101

  • Rohon Newaz
  • Rohon Newaz
  • 03 Nov 2019



Let’s face it. In the ever-expanding world of today where businesses are growing in every nook and corner, it is very tough to grow a business of your own.

Especially if you are a woman trying to establish yourself as an upcoming entrepreneur, simultaneously handling a megalithic list of responsibilities, growing your business will surely seem like a struggle. Then again, what other alternatives do we really have? A life sucking 9-5 job? Maybe. But, the guaranteed cheque at the end of the month comes with a huge physical and emotional cost.

Starting a business is never easy. You need to stay focused on your goals, continuously think about ways and means of improving your strategies to aid your growth. But before all of that, you need to start somewhere. Hence, if you put your foot firm on the ground, clear your mind and come into perspective, everything has a light at the end of the tunnel.

While there may be numerous groundbreaking ways to establish and grow a business efficiently, here are some of the growth strategies that you can jot down if you are looking to grow your business.

 

Utilize your resources smartly

The first and most important part of starting a business and growing it into a successful one. There are people, communities, and organizations around you, no matter where you are. All you need to do is; ask. Taking the help of the right resources at the right time is a kickstart to every successful business.

Here at City Alo, we encourage female entrepreneurs from every corner of the society to grow a business of their own, honing their craft, and nurturing their dreams. We value our women customers who will not stand as a second fiddle to the fast progressing society of today. Thus, we offer SME loans to all the upcoming entrepreneurs who wish to start a business of their own, and grow it into a business which will contribute to the economy. We offer an unsecured loan of 3-10 lac BDT, while a secured loan of 10-25 lac BDT for a tenure ranging from 12-60 months.

Visit https://cityalo.com/loan/sme-loan for further information regarding our offering in diversified fields of businesses.

 

Get to know your customers

If you want to grow your business quickly and efficiently, one simple rule stands; listen to your customers.

Your customers should be your top priority when you set out for achieving your business objectives. Develop your products and services aligning with the needs and wants of the customers. A more affective approach into understanding and ultimately retaining customers is to personalize your products and services according to their preferability.

 

Simply your message

Send a clear and precise marketing message to your audience. Make sure your brand positioning is clear in the minds of the consumers. But don’t just stop at one, try out different versions of your message in your website, in CTA (Call to Action), and in your promotional channels, reaching out to the target market.

If your business has a clear and preferably inspiring message, you are half way there.

 

Have an in-depth idea about your competition

Research, research, then research a bit more about your competition in the market. If you do not have a competition, you are your own competition. Make sure your business is a step ahead than your competition, or at least parallel to its strategies.

Gather substantive knowledge regarding what you are doing less, and what can be improved.

 

Form strategic partnerships

Strategic partnerships truly can make a world of difference in the arena of businesses. A strategic partnership with the right company can propel your business to heights you cannot even imagine. Find out companies which are complementary to your own, and reach out to them.

Yes, all this is easier said than done. But if done, it can allow you to reach a swath of customers in an efficient and cost effective way.

 

Adapt, Overcome, Improvise

Growing a business is all about adapting to the current trends, overcoming all odds, and improvising your next move.

Make sure you keep on reenergizing your business module to measure what works and refine your approach as you go. Do not shy away from experimenting. Understand why your customers are coming, and where you are failing to bring them, and simply do the right bits!

 

In a country like Bangladesh, regardless of what our business plan is, it is likely that the market is saturated, and tough to cope up initially. But with the right mindset, and effective decisions, you can reach your ultimate goal; growing your business into a global juggernaut.

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