It is a happy day when you cross over the $1,000,000 mark.
If you haven’t yet reached that milestone in your business you might be
wondering what it will take to hit the mark.
The reality is at each stage of business growth you need to
prepare for the next stage. Here are 5 things you would be wise to do today to
get past the $1,000,000 mark...
1. Set aside a consistent
marketing budget
We’ve all heard the expression – “It takes money to make
money.” While marketing may seem like a scary jump into the unknown, with a
trusted partner and an adequate budget, great things can be accomplished.
It’s also important to set up a consistent marketing
budget. Throwing large dollar amounts out there once in a blue moon will not
get you the results you’re looking for.
2. Implement
automated follow up sequences
Marketing and sales automation systems are what can truly
take your business to the next level. These systems allow you to spend less
time down in the trenches of your business, and more time directing future
initiatives and meeting sales goals.
The vast majority of small businesses fail to implement
these systems, which is why only 5% of businesses ever get to $1 million in annual sales. Without a proper
follow up sequence, your business is destined to decline instead of increase.
3. Document your
processes
By this stage of your business, you likely have a pretty
good idea of what works and what doesn’t when it comes to attracting and
maintaining customers. At this point, it’s time to take your loose processes
and really solidify them into documented standard procedures.
This takes the process from in your head as the owner and
turns it into actionable items that you can assign to other employees. Taking
your business from solely relying on you, to a profitable machine.
4. Position your
business with your Unique Selling Proposition (USP)
When you are first starting up, businesses generally try to
do business with anyone that will pay them. This will work for a while,
however, over time they find out others with more specialized offerings can
easily take business away. Developing something to offer that is unique is a
sound strategy. Yes, you will have to
pass on some customers. However, sticking to your unique selling proposition
and setting your business up as something special is better way to win
customers.
Once you do this, your business can become a big fish in a
small pond, which is the first step to becoming an even bigger fish and taking
your business to the next level.
5. Work with people
who fit your vision
As a small to medium size business, it’s likely that you’re working
with a small team. In order for your business to flourish, it’s important to
build a team that fit with your purpose, values and mission.
You need to be able to rely on your team to help you bring
your visions to light and enhance your business. You won’t get far trying to
micromanage a team that doesn’t fit.
A few of the things on this list are immediately actionable
as the owner of your business. Take time to document your processes and ensure
you have a team that supports you and your vision.
After that, it might be time to take a more serious look at
your marketing efforts.
If you’re still skating by with word of mouth only, or still
wading in the shallows of paid advertising, it may be time to take the plunge.
At Sales & Marketing Technologies, we’ve helped
thousands of businesses grow by enhancing their online presence and marketing
efforts. If you’re ready to learn more about how marketing and automation can
take your business to the next level, give us a call for a free consultation at
407.682.2222 or contact us online.