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Business

Small business essentials: how to grow your venture

If you’ve recently started a small business, you’re probably still finding your feet. But if you want to grow your side hustle then it’s never too early to start thinking about growth. Lots of entrepreneurs have limited funds when they first get set up, so it’s often difficult to know what to invest in, but this blog can help you to identify what’s necessary to accelerate your business growth. It doesn’t really matter what industry you’re in, these general tips will point you in the right direction and can be applied to just about any project.

Secure Payments

Whether you make sales in person or through your website, customers need to have a secure way to pay for your products and services. People are becoming more and more aware of fraud and identity theft, so your website payment portal needs to be secure. At the very least your site needs to have an SSL certificate, otherwise, you’ll lose out on a huge number of sales. In-person, you should offer card and apple pay payments, as fewer and fewer people are now carrying cash. The last thing you want is to turn people away because they don’t have any coins or notes on them. Get serious about payments and get started with a merchant account from North American Ban Card as a first step.

Social Media

Social media costs nothing to create but can really drive sales in the long run. The thing that puts many small businesses off social media is not understanding how it works. It’s true that social media can be time-consuming, especially at the beginning, but it’s an invaluable marketing tool. If you aren’t sure how to go about representing your brand online, check out one of the hundreds of courses online about optimizing your digital presence. Social media is for all businesses, so don’t make the mistake of thinking your industry is the exception.

Strategy

Even if you keep working hard, it’s difficult to get where you want to be without a strategy. Set yourself realistic goals and work out how you can get there in achievable, measurable steps. You need to do some in-depth market research, analyze your competitors, and understand who your customers are. The easiest way to ensure your strategy is up-to-date is by continually collecting data as you run your business. This way you can adapt as time goes on – because what works today might not be so effective six months down the line.

Software

Software can make your life a lot easier, but what kind of software does your small business need? It really depends on what’s taking you the longest time to complete. For example, if bookkeeping keeps you away from shipping orders, then invest in accounting software. You’ll also need to get a decent CMS to manage your website and think about automating your social media posts. Whatever you decide on, make sure you are making the most of tech.

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