Small Business Success: 3 Ways to Increase Your Bottom Line

Website design By BotEap.comWe all know that the lifeblood of any small business is cash flow, cash from customers and customers.

Website design By BotEap.comHowever, data from the Australian Bureau of Statistics indicates that times are tough for smaller operators and over the last ten years conditions have worsened.

Website design By BotEap.comWhile small businesses contribute around 35 per cent of industry value to Australia’s GDP, around 20 per cent of small business owners still earn a weekly gross income of between just $400 and $599, which is as low as $8 – $10 per hour for your efforts.

Website design By BotEap.comTo grow a small business, you must find those customers who can pay the right price for services, and become regular and repeat customers, which will then put the business in a position of strength and power.

Website design By BotEap.comThe good news is that many of the large businesses operating in Australia are actively looking to spend on locally purchased goods and services, putting small business owners in a valuable position. For many small business owners, selling to Australia corporations is a game changer and the best way to gain leverage.

Website design By BotEap.comThat’s the good news. The challenge, though, is that it’s not always easy to get your foot in the door with large corporations and enterprises, so here are three ways to help you increase your impact and influence so you see increased revenue stream:

Website design By BotEap.com1 – Create a MAP and follow it

Website design By BotEap.comThe corporate market is a very attractive, albeit very large, target market. For a small to medium business owner, addressing a market of this size with a dispersed approach would be costly, time consuming and inefficient. So the first step to building a complete portfolio of corporate clients is to develop a clear MAP (Marketing Action Plan) and then work on that plan.

Website design By BotEap.comIn your MAP, you want to determine what types of businesses would be the best match for your services or products, align how your services are a good match for the corporate market, and develop action steps to target those relevant businesses.

Website design By BotEap.comRemember that businesses are busy too, so you have to be consistent and persistent to get your foot in the door.

Website design By BotEap.com2 – Boost the presence and profile of your brand

Website design By BotEap.comTo get noticed in the marketplace, your brand must stand out from the sea of ​​similarities. For many small business owners, especially if they provide professional services, I encourage them to focus first and foremost on their personal brand versus their company brand. Make sure that the decision makers at your target companies know and know you.
Volunteer on a committee, attend business chamber and networking events, speak at events—the more you establish yourself as a thought leader in your field, the more likely a corporate client will buy from you.

Website design By BotEap.com3 – Be unique

Website design By BotEap.comOne problem for small business owners trying to sell to the larger part of the city is that there are far more of you than there are of them. So you can bet that no matter what service or experience you provide, you’re not the only one, nor are you the only one in your field introducing corporate clients.

Website design By BotEap.comSo you need to be clear about what makes your service or offer unique: is it your terms, the way you deliver, the team members, your philosophy? How well you communicate and live this uniqueness is crucial to getting noticed.

Website design By BotEap.comThe bottom line here is that decision makers exist in every corporation and you can often get past the noise when you find the most creative ways to get involved or find an entry point. If a door opens, walk through it. If you have a creative idea, share it. Some of the most lucrative corporate deals I know of have been closed through chance encounters, wacky marketing tactics, and a different approach. The only sure thing is that if you don’t get into the game, you have no chance of winning.

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