The name of the game in small business is growth. Your goal as an entrepreneur is always to expand your efforts, but you may want to think twice before shelling out big bucks in your attempt to do so. Improper money management can drive any small business to quick failure, and one of the more common errors is reckless spending. If you can find a way, however, to limit your expenses and grow your business at the same time, you’ve struck gold. For some helpful tips on how to do just that, read on.
1. Utilize Outsourcing
You can decrease your payroll costs significantly by outsourcing to freelancers. Try visiting websites such as Guru.com or Freelancer.com to find professionals in your field. Be sure to investigate all candidates thoroughly to ensure that you’re getting someone qualified to do the job. Check out their freelancer rating, client reviews, portfolio, resume, exams, skills, etc.
2. Take Advantage of Social Media Marketing
Use Facebook and Twitter to get the word out about your business without spending a dime. Post high-quality, relevant content for your readers and quickly respond to all comments and questions to help grow a satisfied and intrigued fan base.
3. Add a Blog to Your Website
Adding a blog to your website can greatly improve your chances of success, as long as it’s packed with accurate, useful advice readers can implement in their daily lives. Choose interesting topics and post about them eloquently, and you’re sure to drum up significant attention.
4. Improve Your Professional Network
Connect with like-minded professionals in your niche. Meetup.com offers thousands of groups that can help you build a local following and promote your business. Build business relationships that can foster long-term growth for your business.
5. Get Free PR
To help generate a buzz in your local community, contact local radio and TV stations and ask to be interviewed. You can also submit articles based on your industry and expertise to a website such as eZine.
For the most reach, look to social media. It offers countless ways to market your business to a vast audience, and it comes virtually cost-free. Grow your venture with
wise investment choices, diligent management, and a keen eye for these low-cost building blocks, and your startup can not only grow today, it can thrive for years to come.
For practical advice on how to use LinkedIn to generate sales leads and grow your business, check out our latest webcast for more tips, tools and best practices.