How e-commerce works


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How Do you Define Business Growth?

Ask any business owner if they have a growthtoward change, with an increasing willingness
objective for next year and you're sure toamong customers to try something new. You too
receive a resounding "yes!" Revenue andcan capitalize on change and this willingness
profitability, of course, are the primaryto try new things if you are willing to
growth factors on the minds of most businessexperiment with a few new things. A couple
owners as well they should be if you wantways to grow your expertise and experience
your business to survive and prosper into theinclude:
future. However, when planning for growth,
for example, deciding exactly what to do to--- Offer a product or service to a new
achieve your growth goals, I would suggesttarget market for free or at a significant
expanding those factors beyond revenue anddiscount.
profitability to include Reputation,
Expertise  and  Perspective,  and here's why.--- Offer a scaled down product or service to
your  target  customers  pro  bono.
REPUTATION - When you strip away the assets
of your company, either inventory or--- Create a new distribution channel. For
intellectual capital, all you really haveexample, convert a training seminar to a book
left is your reputation. Customers andor perhaps convert a book to a training
clients buy your products and servicesseminar.
because of your reputation, i.e. your ability
to either create a solution for yourKeep in mind that expertise is about quality
customers or lead them to one. So ifand creating more value. A little creativity
perception is reality, or if at least it hasand a willingness to try something new can go
something to do with it, business growth musta  long  way!
include growing your reputation. A few
excellent  ways  to  do  this  include:PERSPECTIVE
--- Conducting surveys that will interestGrowth and perspective is much more about you
your customers and ideally present new andthan it is about your business - it's all
valuable  information  to  them.about learning. Developing strong and valid
points of view are invaluable to a business
--- Writing letters to the editors of tradeleader and are easily sparked by getting away
publications and periodicals that your targetfrom the routine. Some ways to broaden your
customers read (and don't forget on-lineperspective  include:
publications).
---  Attending  seminars  and  workshops.
--- Preparing and publishing "White Papers"
that research and analyze important topics--- Enrolling in college courses (anything
for your target customers - keeping youryou  like).
writing objective fact-filled and devoid of
any  marketing  hype.--- Reading at least one non-fiction book per
month.
--- Joining a business association that
clearly adds value for its constituents and---  Joining  mastermind  groups.
taking on a leadership role, e.g. association
officer,  director  or  committee  chair.---  Joining  collaborative  strategy groups.
Reputation is about demonstrating leadership,Again, there are numerous opportunities to
creativity and results in your market nichegrow perspective. Just be sure to choose
and these tactics will help you do so. Theycarefully and be willing to contribute in
also help position you and your company asorder  to  receive.
"experts."
Growth is a requirement for business, and we
EXPERTISEall want to grow our revenue and
profitability. However, projecting growth
Business growth should also include expandingjust by extrapolating last year's numbers, or
your products and services or expanding yourby choosing a revenue goal of where you
target markets, or some combination of each.really want to be, won't necessarily get you
This must be done very carefully of course,there.
considering the classic and valid argument
that you can't be all things to all people.Growing your reputation, expertise and
However, customer needs and wants areperspective will.
constantly changing and so are attitudes



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