You fought to get your business noticed in the vast digital marketspace. You learned to do business and it has gotten you far.
At some point, though, your business will reach a plateau. This doesn’t mean you’ve stopped growing. If anything, it’s a challenge to look outside the walls you’re comfortable in. There are so many ways you can still grow! There’s joining trade fairs, virtual markets, or brick-and-mortar curators. You can try marketing to new locations. You can even put up your own e-commerce website.
The choices are endless... and overwhelming. What will work best for you?
Here are some tips to take your online business to the next level.
DEFINE YOUR OBJECTIVES
According to Gary Keller, author of the New York Times Bestseller ‘The One Thing,’ you only need one question to help you prioritize your long-term and short-term goals.
Ask yourself this: What is the one thing that I can do, that when I do it, everything else will become easier and unnecessary?
That means focusing on one goal for a time being and putting all efforts into that alone. Even with to-dos, drill down further to the one thing you should finish first.
Have that one goal in paper, now? Let’s move on to the next step.
REVISIT YOUR BUSINESS PLAN
A good business plan is a concise one. Trim down your goals and focus on what’s needed, you might even end up with just a one-pager.
When devising a plan, Bplans.com suggest you use these pointers as guide:
1. Describe the problem your customers have
2. Write down your solution (products/services) to that
3. Create a business model
4. Set the target market
5. List your competitive advantage
6. Define the roles of your management team
7. Assess your business financials
8. Check what funding will you need
LOOK FOR A SIMILAR BUSINESS MODEL
As you do your research, you may find a business implementing the same plans you have. That’s gold right there!
Get as much information on their business model as you can. See how they’ve managed to reach their objectives. What are their timings and resources? Who are their partners? With this information, you can compare and pattern some of your plans with theirs.
FIND A MENTOR
A mentor is not just someone to check your plans and tell you exactly what you need to do. According Medium.com, The right mentor is someone you can talk to, who will listen to you, and help push you in the right direction. You can learn from their stories of failures and successes, gauge how you can tweak your path as you go, and learn insights you won’t arrive at on your own.
When looking for a mentor, you can check within your circle such as friends or former teachers. You can also reach out in forums, or join business clubs.
CHOOSE THE RIGHT PARTNER
For your business to grow, you have to acknowledge that you can’t do everything on your own. You will need to hire the right people and partner with reputable service providers.
May it be for logistics, human resources, accounting, and the like, capable partners will take these from your hands and handle them more effectively. Entrego is a technology driven business solutions provider for the fulfillment and logistics needs of enterprises in the Philippines. With these, you can expand production and reach new markets.
Clearly define your business’ trajectory with these steps and watch your business grow to its full potential.
Entrego is a technology driven business solutions provider for the fulfillment and logistics needs of enterprises. Entrego's courier and express parcel management is operated by Entrego Express Corporation. Entrego Express Corporation is an affiliate of Entrego Fulfillment Solutions Inc.