8 Ways to Grow Your Business

Starting a business is exciting, exhilarating and exhausting, but once you hit the ground running there’s no feeling like it. Especially once you start achieving success.

Now, let’s fast forward a few years. Business is good, or maybe not as good as you’d hoped, and your numbers are plateauing. First, don’t panic. Growing revenue and acquiring new customers are some of the hardest things to do as a small to medium business.

Whether you’ve just started, or have reached a point where your business is steady but at risk of stagnating, here are eight ways to take your business to the next level.


According to business.gov.au there are six key steps toward innovation for any business:

  1. Conduct an analysis of the trends in the market environment, your customers’ wants and needs and your competitors.
  2. Consult with customers and employees for ideas on improving processes, products and services both internally and externally. Find out more about connecting with customers for ideas.
  3. Seek advice. Use available resources such as business advisors, grants and assistance to drive innovation in your business. This may include seeking Intellectual Property (IP) protection to commercialise your ideas. Learn more about local collaboration and international collaboration with researchers.
  4. Be open to new ideas and adaptive to change.
  5. Develop a strategic, responsive plan, which promotes innovation as a key business process across the entire business. Learn about creating an innovative business culture and developing a strategy for innovation (see business.gov.au for more).  
  6. Train and empower your employees to think innovatively from the top down.



As Turville explains, “This idea comes from a book titled Profit First by Mike Michalwicz. One account is the “main account” which receives all the income and four separate bucket accounts: profit, owners pay, tax and operating expenses. I recommend twice monthly, say on the 15th and the 30th, you review the GROSS income that has been received into the main account and apportion it using set %’s into the four bucket accounts.”

Turville also recommends having an annual cashflow forecast in place so that you’re not flying blind.

“I recommend all our business clients undertake cashflow planning as the cornerstone of good financial management. It goes a long way to taking the anxiety out of your finances and helping you feel in control of your company’s ongoing financial wellbeing,” he says.



Customer Experience

Some things never go out of style. Customers still want speed and convenience and they expect helpful and friendly employees. The Price Waterhouse Coopers survey indicated that more than 70% of customers find these basic customer services non-negotiable. That’s not to say they don’t like unique and cutting-edge experiences or interesting design and cool technology – they do. But they don’t put these things ahead of good old-fashioned service.

Customers are smarter than ever, and expect more than ever before. Even if you’re providing good experiences for your customers they are comparing you to ‘superstars’ like Amazon and Apple, who keep raising the bar in terms of customer experience. Your competition is no longer just your direct competition – it’s everyone who provides great customer experiences.

Personalisation can make good customer experience great. The right data can help you track what your customers like and dislike, allowing you to make more relevant suggestions to them so you can add value for a better customer experience. The right system can help provide a great experience – without being creepy or intrusive.

Strike a balance between digital and human. Data, AI, chatbots and social customer care are all becoming non-negotiables these days – and they can free up good people from mundane task so they can provide more high level customer support. BUT the best companies know there must be a balance between digital and human. Because, sometimes, all your customers want is to talk to a person.

* Source: https://www.pwc.com/us/en/services/consulting/library/consumer-intelligence-series/future-of-customer-experience.html?WT.mc_id=CT11-PL1000-DM2-TR2-LS4-ND30-TTA5-CN_FutureofCXIEO-14&eq=infeditorial_hyken

Marketing and Sales

And marketing is not as expensive as you might think. Modern marketing is less expensive than ever before. Social media platforms, digital advertising and email campaigns have made reaching out to consumers much more affordable and helped to level the playing field for small to medium businesses versus bigger rivals. It also allows you to maintain long-lasting and ever-present relationships with your audience, which promotes loyalty and can help your business flourish.

Marketing is an important strategy to ensure your business is always growing. While your current customers should always be your main priority, marketing efforts can help you expand this base. Little efforts like social media posts and email campaigns can not only engage existing consumers but spread the word to new potential customers. In essence, marketing secures your business’s future through new and old customer engagement.


The right Travel Management Company should boast:

  • No fine print or hidden fees. 
  • Around the clock support. 
  • Advanced reporting and analysis of your travel program spend.
  • Help to create your personalised corporate travel policy
  • Duty of care support in the event of an emergency.
  • Negotiated air, hotel, and car rental contracts. 
  • All traveller itineraries, profiles, and documents. 

More than that, however, a good Travel Management Company will work with you to become a trusted partner in your business, helping you manage not just your travel but your business growth.

More Top Tips to Grow

Good to Grow

Growing a business can have many challenges, but it can be equally exhilarating and rewarding. Business intelligence is essential, and finding the time to prioritise the best growth strategies for you should be top of your list.

The ideas outlined in this article are by no means an exhaustive list, as there are also many other factors to consider such as leadership, KPIs, training, commercial acumen and so on. But possibly the most important advice for any growing business is to surround yourself with good advisors and experts in business strategy. Do that, and you’ll be good to grow.