The day you open the doors to your new business, chances are, it doesn’t have a great deal of value – even if you’ve leased the ideal location and sell the best products or deliver unparalleled service in the area.
In the first part of this post we looked at three ways to add value. Here are four more.
- Build a website and update it regularly. 70% of buyers first turn to the Internet to find the right product, comparison shop for product features, special discounts and incentives to choose your company over the thousand other businesses operating in your demographic region.
Create a website that simplifies engaging your business online. For example, if you own a restaurant, post the daily specials to give regulars a reason to log on to see what’s for lunch. Enable customers to order online and pick-up at their convenience.
Provide impartial buying information, a picture of your business, complete contact information including a chat module and a click to call feature that simplifies company engagement.
- Keep company records in good order. A well-run company keeps organized records that enable the staff to operate at higher levels of productivity. A more productive staff adds value to any business because you can do more at a lower cost.
- Use multiple marketing channels. Create synergies between print and online advertising. Create an adaptive website that looks good on a large computer screen, a tablet screen – even a small smart phone screen. 40% of Internet search takes place using smart phones so look good no matter how prospects find you.
- Buy your workspace. Okay, this may take a little time but add it to your list of business objectives. Nothing adds value to a business quicker than ownership of the workspace, whether an office, a manufacturing plant or the clothing store in the centre of town.
Many small business owners – especially those just starting out – believe that the only way to add value to a business is by growing sales and adding to the company’s customer base. True, those are certainly important aspects of business growth.
However, there are a lot of ways to increase the value of a business, even if it’s only a week old!
Before you open the doors to your new enterprise, consider options for growing that company quickly. Don’t overspend (of course) but also, don’t miss opportunities to add fiscal value to your new business.
After all, you didn’t become an entrepreneur to fail. You’re a business owner with long-term success on your mind – and a plan to reach your objectives by adding value to the company