6 Tips On Building A Successful Business
Posted On: 22/03/24 - 0

Here are 6 tips on building a successful business that will stand the test of time. Learn from an award winning accounting firm and two devoted entrepreneurs. Paul and Cheryl are celebrating 17 years of starting, building and growing a business in Edmonton.

Building a Network of Referral Partners To Grow Your Business

When we first started our business, I was out networking every week. I attended networking groups, started my own groups for entrepreneurs and built many relationships with referral partners. Find other like minded business owners that will provide a service that is complimentary to yours. This will create a cross referral system that could be instrumental in you growing your business and helping others to grow theirs. It is really important to partner with others that have a similar work ethic and values. This helps to build trust and rapport with your clients.

Growing Your Business By Onboarding The Right Client

In the first couple of years in business, I made the mistake of taking on any type of client. I was anxious to build the business and found it very difficult to say no to prospects that did not fit our business model. This is why it is so important to stick to the plan and only pursue the right fit for you and your business model. Trying to be all things to all people all of the time will only send you to an early burnout and leave you feeling very frustrated in your business start up.

Building A Business Takes Time, Be Patient

Be prepared for a few years of some serious “grinding”. Anything we made in the business we reinvested into technology and staff. Without both of these assets, its impossible to grow a business. Start small, have a comprehensive plan for growth and stick to what works. Take the time to build a solid foundation in your business. This will help in the future as you start to grow and even expand the business in the future.

You May Have To Change The Way You Think In Your Business Start-Up

Your mindset has a direct impact on whether you grow or crash as a business owner. There were days that I needed a reset in the way that I thought. Building a business takes time and a ton of positivity and confidence. If I was honest,. there were days that I doubted my ability and lacked the confidence to pick myself up after many cold call rejections. I soon realized when I was having a “difficult” day and couldn’t face one more rejection, my time was better served in the office to create some mail marketing campaigns.

Focus On The Customer Experience To Build A Succesful Corporation

Without customers, you have no business. Without excellent customer service, you will not be able to build customer loyalty. By building customer loyalty, you build your referral base. It’s important to remember, an unhappy customer spreads the word faster to family and friends than any happy customer does. According to Hubspot, 90% of business leaders say their client’s expectations are higher than ever before. Clients and prospects are more informed, they can access information instantly, so you better be ready to deliver a high quality customer experience. If you don’t, there are plenty of competitors that will.

Know Your Value As A Business Owner

When it comes to billing and creating a fee structure, know your worth. Understand that there will always be people that shop around for the best price. Those are not the type of clients that you want to go after. If it is all about “best price” there will never be any sense of customer loyalty. It is so important to educate the customer about the value you bring to your clients. And it all starts with you believing in yourself and your work.

If you are looking to partner with a business development coach that can add to this list of 6 tips of building a successful business, call Cheryl today. She has extensive experience in the corporate world of building business.

12203-107 Avenue.
Edmonton, Alberta.
T5M 1Y9

Call us:
780.482.7297