Grow Your Business in 5 Ways (Without Venture Capital)

Having a venture capital when starting a business can be very helpful. However, for some businessmen, getting a venture capital might be risky in the end, while starting their business on their own is safer.

For startups, thinking of making their business big using their own pockets is an intelligent move.

Here are also some tips on how to stand on your own feet.

 

Join an incubator.

Business incubators are like small systems or groups of businesses, mostly startups that help other business owners in researching and networking with others. This is a very clever step especially to business owners who doesn’t want any help from others when it comes to  finances as incubators will help you get your own space, link you to other great minds and let you meet other entrepreneurs who are also in the same path as you are.

You can also establish great and long term friendships and business relationships with other companies and you can even share knowledge with each other.

 

Value your customer’s feedback.

In every business, customers’ feedbacks are always very helpful. If you take them seriously, these can definitely help you improve your product, your service and even your management. Be sure to always acknowledge and right away try resolving the problems or issues being raised. By doing this, you are not only keeping your customers’ loyalty but also improving your business’s quality.

 

Be always available.

Try to be always available to your customers round the clock. By doing this, you are giving your customers confidence in your ability in taking care of issues right away.

 

Try to solicit word- of- mouth recommendations.

Today, achieving word-of-mouth recommendations is as easy as pie. Through social media sites, promoting and getting testimonials from real customers will never be the same. There are times that you don’t have to ask them from your customers but you might be surprised they came in voluntarily. But a little prompt for feedback on those sites will surely be handy.

 

Create or join a community.

Building networks around the brand is one great way to create meaningful and long- lasting relationships. Giving out numbers to call to customers might also be helpful so that whenever trunk lines are not available, they can still get in touch with one of your staff.

Building great customer relationships can definitely go a long way. Because when you care about your customers, the customers in return not only give your company loyalty but also care and respect. They will stay with you during the hardest times and they will give you many referrals. Leveraging customer relationships can definitely help your business acquire more customers.

 

The traditional steps in getting a rapid startup growth and expansion is through getting a large number of returns from outside investment. Growing the business on revenue generated strategies like offering a solid platform is clever and wise. Not involving cold cash though may contribute to some delays but you can see the difference in a couple of months. It is better to be safe than sorry and you should always do things slowly but surely.

 

Next read…Startups: What you need to be successful

 

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Article contributed by Startup Jobs Asia‘s Team.

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