In Britain, starting your own company is an exciting prospect. As a matter of fact, research has found that 8 in 10 of 16-21-year-olds are interested in becoming their own boss, demonstrating that entrepreneurial spirit is alive and kicking in among the younger generation with 2018 proving to be another record year for new start-ups.
It goes without saying that all business owners want their SMEs to do well, but what exactly should you do to make sure your SME continues to grow and turn over a healthy profit? In this article, we aim to answer that question by exploring the best practices to follow in order further improve and expand your business.
Develop an online presence
First things first and though it may sound obvious, having an online presence is an excellent way for you to get your name in front the correct audience. This means you must make sure that your company’s website is user friendly. It’s not enough to just have a site which is live – if your website isn’t pleasing on the eye, or information is difficult to find, then any potential customer is likely to be put off from using your services as it looks unprofessional.
For more (and free) exposure, ensure that your business is added to local listings sites such as Google Places, Yahoo Local and Bing Local. You’d be amazed at how many local businesses don’t sign up for these free services. By simply providing the search engines with your details, your business is getting free advertising and getting put in front of a huge audience who may well stumble across your brand when searching for a product you provide.
Utilising social media correctly can be invaluable an invaluable tool for building a name for yourself. With customers always wanting to know how other people have fared, sites such as Facebook can be a great location for positive feedback. By interacting and engaging with your audience on a regular basis, your brand is likely to stay at the forefront of their attention and who knows when they might just need your services? After all, word of mouth is a huge tool and most conversation starters these days come from social media posts!
Advertising
Similarly with being online, effective advertising is crucial for your business and is often disregarded by some. Whether this is online or in person, your brand has to be in the public eye. Many people assume that advertising campaigns will be too costly for the size of their business, but this doesn’t have to be the case. A relatively inexpensive way of advertising and gaining local customers is with leaflet distribution. Surveys have found that 89% of people remember receiving door-drop mail, with almost half admitting that they keep the leaflets on a board or in the kitchen drawer. Of course, what your company is selling will alter your success rate but getting your name in front of your audience is crucial and this is an effective method.
A further technique is to send off press releases about your company to local and national press, radio stations, magazines and industry publications. Certain local papers have sections especially for small business news, so it could be a great way to get your name in front of potential customers in your area. Business cards also work in the same way, with many local shops having a pin board for small businesses to advertise their services for a small fee.
Have a water-tight marketing plan
Another step that is pretty self-explanatory is to have a solid marketing plan. Though it may seem a given, many companies aren’t proactive and haven’t got a strong marketing plan in place. It’s as simple as setting realistic goals and making an in-depth to-do list where you can focus on your expansion schedules and make sure that you are spending your resources correctly and appropriately.
It’s important to outline all main points with regards to your business, from recognising your target audience, to understanding your position in that market and how you are able to move forward. It should also look at the costs involved in moving forward and this would make sure you avoid throwing money away by blindly targeting wrong areas of the business.
Grow your fleet
In the years between 2013 and 2017, the total number of electricians employed in the Britain rose from 234,000 to 265,000. With apprenticeships in manual labour sought after for those who don’t want to attend university, there are many SME electrician companies to choose from. In this industry, and other manual labour roles, including plumbing, the role realistically requires access to a vehicle and if you plan to expand your company, then your fleet would have to grow too.
Giving your employees access to transport could prove to be an invaluable asset to your business. Not only would this mean that they are available ‘on call’ and can service a wider target audience, but they can always also carry all their tools and equipment with you so there wouldn’t be the risk of them not having the tools needed for a specific job. This would mean there’s an opportunity to earn more money and satisfy your customers.
According to a recent survey, electricians recommend the VW Transporter as their preferred means of transport thanks to its reliability and favourable fuel economy. And don’t be scared off by the initial outlay. Many car companies offer a great leasing service that is affordable to you and won’t hinder your expansion plans.
However, it isn’t just companies in manual industries that can benefit from growing their fleet. Company cars with personal body wraps on can make sure your name is always reaching a new audience wherever your staff go.
It goes without saying that we all like to think that our ideas will prove to be successful. However, it can, at times, help to take a step back and be a bit more savvy to ensure that our plans are successful. With this in mind, following the simple steps in this guide should hopefully help you to both grow and further improve your SME to ensure continued and future success.
