CEO Corner: Top 3 Tips To Grow Your Business
Written by Soong Chong, CEO
This year EBR has been fortunate as we have welcomed a number of new staff to our team. Growing your business is something that is very important & fundamental for the survival of your organisation. There are many different ways that you can grow your business.
Here are my top 3 tips on how to grow your business:
Increasing Your Number Of Staff
This option of course, is for those businesses who are comfortable enough & who are doing well in terms of profitability. Increasing your number of staff can benefit your business in a number of ways. Firstly, the main benefit would be that you are growing your business. Secondly, new staff will ensure maximum productivity which will lead to higher profitability. Thirdly, having more staff on your team ensures all members of your business are specialised in one area, thus avoiding overlap between job positions of existing staff.
Lead Generation
No matter what industry you are in, lead generation is a critical factor that business must focus on in order to survive. There are many different ways to generate leads, with the most obvious being advertising. Other methods of lead generation include word of mouth, promotions & networking. Having a carefully constructed method of lead generation is of vital importance & all staff engaging in methods of lead generation should be carefully and thoroughly briefed on your companies methods & protocols of generating leads.
Branching Out
The physical expansion of a business is one of the best ways to grow your organisation. Having multiple locations is beneficial to your business as it creates goodwill & allows the opportunity for extra profitability. Before considering this option for your business you must make sure your business has enough capital to support such a move, you must have a good location that is set around your target market & you must make sure you have the proper management in place to look after the day to day business activities of staff.
