by Nicole S. Cooper, Networker Marketer and Internet Marketing Coach
Building your own business can be both exciting and frustrating. The joys of being your own boss, doing what you love and witnessing your dreams come true is refreshing, especially in today’s pressing economy.
BUT… here’s the flip side of the coin…
Long hours, money leaving as quickly as you obtain it, with minimal to show for it! The constant fight to be competitive in your niche, dominate for loyal business, all while attempting to generate enough profit to stay in business. Not to mention that cushion to pay yourself!
With over 27+ million businesses in the United States alone, there are key strategies that one must execute to ensure a successful business in the marketplace.
Here are 5 important strategies that you can implement to build a more profitable business:
1. Identify Your Niche
One of the biggest challenges most small businesses face, especially start-ups, is failing to narrow down their niche specific enough to have a dedicated focus they can dominate. For example, it’s very challenging to have laser focus in your business when you specialize in five different areas as opposed to one or two.
If you have a restaurant business and you want fan fare, it would be most beneficial to be known for one main thing that keeps people talking versus having a wide variety of items on the menu specializing in mediocrity.
Identify what you’re best at and make that the focus of your business. The fan fare is sure to follow!
2. Know Your Audience
Business owners often make the mistake in attempting to create what they want as a service, versus identifying the wants of their audience.
It is extremely critical to consider the following; who your audience is, what they want and how much they’re willing to pay for it. Profit can only come with sales, and if you aren’t giving your audience what they want, the sales will inevitably go elsewhere!
3. Educate Your Audience
Giving free insight to your audience is a great way to demonstrate just why they need your services and products. Begin using numerous methods of free marketing such as blogging, youtube videos and social media sites to share insight on various topics related to your niche and industry.
4. Be Social Media Savvy
The only way small businesses are able to survive this day and age is by having a noticeable presence on social media sites and with search engine results. It’s been stated if your business isn’t on the internet within the next 3-5 years, then you will not be in business at all.
Therefore, make it a point to shift your marketing efforts into the online world, and begin generating more buzz around your business today!
5. Be Innovative!
If you want your business to stand out, find common problems and challenges in the marketplace that your customers are currently experiencing. Then find a way to not only accommodate your customers but to solve those problems, considering that they fall within your niche.
By identifying new trends in the marketplace, you not only win your audience over, but you’ll be able to put your stamp in the field and reveal your genius. You’ll be able to undoubtedly show why you’re the “go-to source” within your niche!
Nicole S. Cooper is a Networker Marketer and an Internet Marketing Coach. Find out more great tips at her official sitehttp://www.mailboxmoneyqueen.com. Text “NicoleSCooper” to 90210 to join Nicole’s Mobile Club.