by Emma Grace Brown of emmagracebrown.com. 

Tried-and-True Strategies for Growing a Small Business As a small business owner, you know how hard you had to work to get your company off the ground. But the hard work doesn’t stop after you land your first client. Rather, growing your business over time is in many ways more challenging than starting a business from scratch.

No matter the industry you’re in, the key to small business growth is to plan and structure your company so that it has the opportunity to grow. And then, you must seize opportunities while making smart decisions that will produce long-term benefits. Fourth Dimension Technologies shares some simple, proven tips to help you do just that:

Fix your finances.

No business can survive—much less thrive—without healthy financial management. Make sure you have the right tools and processes in place for maintaining cash flow, implementing payroll, and strategizing your finances for the future. If you have a lot of debt, then find ways to eliminate or minimize the debt quickly so that you can free your company up to grow.

It’s also crucial to keep a close eye on how you’re spending your capital. This can provide reassurance since you’ll know your money is going where it should, but also gives you insight into which expenses can be eliminated. Software applications like a transaction data API are a help here by enabling you to dive deep into as many as 24 months of transactions so you understand where every penny has gone. The right app can also alert you with real-time updates so you can monitor new transactions when they occur.

Map out your strengths and weaknesses.

There’s always room for improvement, and the quicker you embrace that truth, the quicker you can begin laying a foundation for growth. Regularly assess your strengths and weaknesses as a company. Get feedback from customers through surveys and in-person interactions, and ask mentors to provide you with insight. This will help you identify where you should continue putting time, energy, and money, as well as what you can improve.

Report essential changes.

Anytime you make an important change to your business, it must show up in your annual report. These changes could include your name, membership, address, and new shares, among others. If you neglect to file an annual report, your company could be subject to fees and penalties from the state. In some cases, you may lose the right to remain a business.

Go to the drawing board.  

Planning and strategy are critical to the growth of any business. Make sure you have a business plan that is helping you reach your goals, whether that means creating a new plan or modifying your current one. Regularly analyze data (e.g., customer behavior, expenses and revenue, industry trends, etc.) to inform your decisions. And hold brainstorming sessions for your team to determine how you can improve.

Evaluate your staff.

Do you have enough people working for you? Do you have the right people in the right positions? The effectiveness and cohesiveness of your team will make or break your success. Assess how each task and project is going, and make any adjustments necessary.

Boost marketing.

Where will your company be without an effective marketing strategy? Nowhere. It doesn’t matter how great your product or service is!

Constantly think of ways that you can improve your marketing efforts. Make sure your website is attractive, engaging, and easy to use. Post quality content on social media, and develop email campaigns. Work on enhancing SEO to drive traffic to your website. Be sure to keep marketing top of mind at all times.

For extra punch, and to make your website content more compelling, consider adding video elements. Not only does this help increase conversions, but people typically prefer to watch videos rather than read through walls of text online. Here, you’ll want a professional approach to ensure you achieve the engagement and conversions you’re looking for, so connect with experts who can put together quality video production for your website or social media content.

While posting regularly on social media is great, it’s not always enough to post a little here and there. These days, more businesses realize the importance of a strong social media strategy. While you can do this yourself through platforms like SocialPilot, this is another area where a professional touch will pay off. A social media manager can boost your web presence with a strategic approach, to ultimately garner new clients and customers.

Embrace technology.

Finally, use the right tools! There’s so much tech available that can help move your small business forward; you just have to know what to look for.  For example, Salesforce is a cloud-based customer relationship management (CRM) software that can boost your customer reach and satisfaction rates exponentially. Slack can help your team communicate more effectively, and Basecamp can make project management a cinch.

There’s nothing easy about growing a small business. But as long as you plan and strategize, you can set your company up for long-term success. Along with following the tips above, keep looking for other ways you can grow your business the healthy way!