Curating a business strategy could frighten even the most skilled or educated in the room. That’s primarily due to the intricacies that actually go into making a business work.
Every entrepreneur has different narratives regarding the tools and methods that they applied in their respective businesses. What works for Jerry and Tom, might not necessarily work for Steve. However, for the Steve’s of this world, there are alternative methods that can be used to spike the growth of a business.
Below are some of the tips that emerging and well established entrepreneurs should apply in their business.
Every company has a blueprint that it abides by, however, the ability to shift and tweak a few set objectives could do wonders for a business. Although many companies lean towards incorporating millennial lingo and trends into their businesses, try to discern what could or wouldn’t strongly align with the core values of your business. Evolution ensures growth but originality anchors a company.
2. Divide Business and Personal Expenses:
It is quite easy to occasionally dip into the business funds for personal use. Therefore, ensure that these two accounts are kept separate. By so doing, the entrepreneur will likely develop and master the important art of self discipline.
3. Diversify,Diversify and Diversify:
Although her media company has since been liquidated, entrepreneurs could still take a page from Khanyi Dhlomo’s strategy book. The media mogul cleverly looked beyond gaining revenue from Destiny Magazine, as she explored television production and secured a cushy contract with South African Airways (SAA). Diversifying your business services broadens its reach and viability.
4. Social Media:
Online networks such as Facebook, Instagram and Twitter offer a convenient contact base to clients that are in need of the said entrepreneur’s services. The millennium era of living has influenced many entrepreneurs to activate their social media accounts. The majority of new age small business owners are now opting to market their businesses by means of creating their own YouTube channels. A strong social media presence is highly recommended, which includes; continuous posting, interacting with customers and responding to their queries.