Rajeev Lakhanpal

Tips from Experts on How to Grow Your Business

6 Expert Tips To Take Your

Business To The Next Level

 Your local Small Business Development Center

(SBDC) is a great place to turn, as it offers free
consulting, along with training that is often free or low
cost. SBDCs work with a variety of small business
owners and will see opportunity where you see
obstacles.
Reach customers in more ways than one
If you are a retailer with no online presence, consider setting up a web store as another way to capture sales. Once you have captured enough customer emails, consider an email campaign to keep your message in front of your custor base. And don’t forget about social media.

If you are a retailer with no online presence, consider setting up a web

store as another way to capture sales. Once you have captured enough
customer emails, consider an email campaign to keep your message in
front of your customer base. And don’t forget about social media.
Find employees eager for a second
chance

Often, we hear that businesses want to go to the next level, but can’t
for lack of workforce. Explore opportunities such as “justice involved”
individuals, who often have received some training and/or certification
while they were incarcerated.
Use a 60/20/20 approach to time
management

Instead of spending 100% of your time knocking out tasks via the
“Whack-a-Mole” method, I suggest a strategic approach to time
management. First, use 60% of your time to proactively focus on tasks
that truly add value to your business or cannot be done by others. The
other 40% of your time should be divided into two categories: 20% on
planning and 20% on strategizing.
Dig deep into your numbers

As an established business, you should be using accounting

software. Once you understand the basics, what else can you
measure? Understand your inventory turns and dive into your cash
flow. Now is the time to start to measure your business and use
metrics to take your business to the next level.
Build and leverage strong
cybersecurity

Businesses need to prepare and strengthen their cyber infrastructure,

not simply to be ready for the next threat, but, more important, to
position their companies to take advantage of the opportunities
provided by a strong information security posture.
MAKE STRATEGIC ACQUISITIONS

As a business, you grow by controlling cost and maximizing profits.

As you acquire small businesses that are ancillary services, you not
only control the cost of your primary business, but you gain the
clients and customers of those ancillary businesses—not to
mention the introduction into new areas of business or industries
not originally served by you, through a partner they already have
grown to trust.
 Email
Talk to us rajeevlakhanpalofficial@gmail.com
New Delhi, India