How do I grow my business? How do I get ahead of my competition? What makes micro, small or medium-sized businesses grow? These are just a few questions that entrepreneurs ask every day. For Jimmy DeHart Sr., tackling these questions on a daily basis is quite common. DeHart is a business consultant with a strong following on Instagram and YouTube. He holds multiple patents in the United States and Canada and comes from a strong family full of entrepreneurs. He offers complete advice for business plan development, marketing plans, and strategies to enhance social media presence. He believes that there are key steps that all owners must take to build a successful venture. Here are some essential things to know about building a successful company.
Having a clear vision of the project: it is vitally important to know where you want to go and be clear about the objectives of how you are going to achieve it.
Being an observant micro entrepreneur: it is not enough to believe what customers need; one must be attentive to identify their needs, what they like or not about the business; as well as the treatment they receive.
What It Takes to Build a Successful Company
Be open to change and innovation: maybe your business is at a good stage and you think that with the customers you have is enough. But it is never enough, you must set new goals and constantly innovate.
Apply for loans to constantly grow: the money obtained through loans ensures sufficient capital to renew equipment, invest in technology, or in new processes that generate competitiveness in the market.
Make a business plan: Although it sounds like a cliché business advice, it is necessary to set a date (two or three times a year) to perform an analysis of your micro, small or medium business, where you examine your strengths, weaknesses.
Customer retention: expand your client portfolio, find a new market niche to whom you can offer your services to meet your needs. But without neglecting your existing clients, since they are a key piece for the growth of your business.
Update: you must be aware of the latest trends and the latest news from your field of work, as certain circumstances may affect or help your company. You need to be prepared to make intelligent decisions.
Re-investment: for your business to grow, you must invest in it and be aware of the options you have; For example, request a loan from a company, so as not to endanger your capital and have it as a mattress for any emergency.
Seek advice: if you have doubts about how to grow your business or have some ideas but do not know how to carry them out, go to financial institutions that can advise you; Some offer this service at no cost, such as business advice.
Be constant and committed: strengthening a small or medium business is not a starting point, but a constant. It is an everyday non-stop task.