I have been in the business for more than 20 years, and one thing that I love about my work is being able to meet other people who have inspired me and taught me important lessons about entrepreneurship.
How does an entrepreneur make his business flourish among other businesses? Here are a few things I’ve learned.
Growth Hack #1 Know your products and services
I am sure there was a time you approached a salesperson only to find out that he knew little about what he was selling. That is definitely a no-no in business.
Entrepreneurs should know every facet of their business. Even if you have a great team working for you, you should still know what is done in every department. Knowledge is POWER!
When people ask what you’re offering, you should be able to tell them exactly what your product or service is. This way, you can encourage them to try it.
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Growth Hack #2 Be careful with your words
It can either build you or destroy you. You may be a funny person who likes to joke around, but when it comes to business, speak to others in a way that that will make them listen and understand your message.
Be straightforward. But also be careful lest you come off as sarcastic, proud or offensive.
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Growth Hack #3 Train your employees how to power sell your products/services
For some people, “hard sell” may work, but only if you know the right words needed to be effective. The key is to impress and not to stress prospective clients.
Keywords to use: “help”, “easy”, “bargain”, “value”, “now”, “improved” and “best”. And most importantly, never fail to say “thank you” and “welcome”.
Growth Hack #4 Be active in different social media platforms
Businesses can tap a wider audience through Facebook, Twitter, Snapchat, Instagram and other social media.
Ever since Facebook Live started, a lot of people have taken advantage of it for personal “small talks”, video tutorials and product endorsements. Adding this to any marketing plan can increase people’s awareness of your brand.
Growth Hack #5 Give value to your customers
Despite making your website user-friendly and informative, someone browsing it may still feel the need to talk to someone to clarify some things.
Adding a feedback form or a live chat can help encourage people to speak what’s on their minds. And once you receive their feedback, inquiry or suggestion, make it a point to reply. It always makes a customer feel valued when companies do this.
Growth Hack #6 Educate your customers to help increase brand awareness
Customers are now smarter. It is not enough to have a fancy website. Although adding high-quality photos can make online visitors browse your website’s pages, it’s important that visitors get the information that they want from your site.
Apart from presenting the people behind the business and enumerating your company’s products and services, it is also important to give visitors additional information related to your business.
Growth Hack #7 Embrace data-driven decision-making
Entrepreneurs need to focus on analytics and data. This is a great way to determine how to spend the budget wisely.
Sometimes, a company spends unnecessarily on certain things, which they initially thought would help them grow, but are actually just a waste of money. Tying the loose ends will help make your business more stable.
There are other ways to build your company. You just need to keep your eyes open, welcome opportunities and learn how they can strengthen your business. Remember: It’s cool to RULE!
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(Armando Bartolome is known as the Philippines’ Franchise Guru, a business mentor to numerous micro entrepreneurs who are now themselves big names in the industry. This article is reposted with the author’s permission and was previously published on The Business Mentor column posted by ABSCBN News. For questions and more information, you may contact Armando “Butz” Bartolome by email: email@example.com or on Twitter @philfranguru. His website is www.gmb.com.ph)