Top Growth Strategies Used by Successful Companies

Growth is fundamental for the survival of Alexandria towing services or any other business. Roughly, about 66 percent of businesses survive the first two years in operation, and about half make it to the five-year mark. Only 33 percent will celebrate their tenth anniversary. These numbers have continued to be remarkably consistent across multiple industries and they highlight how important it is to plan for the growth of a business from day one.

Business growth strategy

Growth strategies allow companies to expand their businesses. Growth is achieved through different practices such as opening new locations, investing in customer acquisition, and expanding a product line. A company’s industry and target market will influence which growth strategies a company will choose.

The most notable growth strategies entail the following;

– Adding a new product

– Investing in customer acquisition

– Looking for franchising opportunities

– Expanding product lines

– Selling products across multiple platforms

Here are some ways on how to grow a company successfully;

Choose a targeted area of growth

When you want to grow a business, it is always a good idea that you have a clear understanding of what and when you want to grow. Your business growth plan should be based on a specific area of growth. You may have a focus on growth in your employee headcount, expansion of current office, or warehouse, the addition of new locations or branches for your business expansion into new regions, the addition of new products and services among others. If possible, you can have a growth plan that encompasses multiple initiatives as listed above.

Conduct market and industry research

After you have chosen what you want to grow, you will need to justify why you want to grow in the areas you have chosen. Conduct research on the state of your industry to determine if your desired growth is both necessary and feasible. You can run surveys and have focus groups who know of the existence of potential customers and can give you vital insights into the industry you are involved in.

Set growth goals

Once you have decided on what you are growing, why and by how much, you should have important goals based on what is inspiring you and where ideally you want your organization to be. The goals you set should be both achievable and realistic and that is the reason you should set specific goals based on your industry. Take the necessary steps to qualify your goals in terms of metrics and timelines.

Plan your course of action

Now that you have everything figured out, you need to come up with ways of how you will achieve your growth goals by having a detailed growth strategy. You will need to determine your growth tools and requirements. The last step before acting on your plan is to determine any requirements your team will need throughout the process. Different resources will help you meet your growth goals faster and with a lot of accuracies. You will need to have the right amount of funding, tools, and software and get professional services such as consultancy to aid your growth.


Tips for Managing Conflict Within Remote Support Teams

A business owner may picture their towing company as a well-oiled machine with employees working collaboratively and in unity to solves problems facing the business. However, there will always be internal conflicts and issues that may slow down the smooth operation of a business. In modern businesses, most new technologies will help a business overcome a lot of roadblocks. When it comes to managing conflict within your teams, a lot needs to be done.

Here is how to go about it;

Set clear procedures and protocols

For some businesses, remote working may be new for some employees. It will never hurt to give your team a clear framework to work by. You need to set procedures that make working and interaction among your teams to be clear and ensure all protocols are well communicated. Understand the kind of information that needs to be shared among your team members. Set out procedures on how workers should share different information. Set out who needs to be informed on the progress of different information

Lead by example

Whatever your leadership style is, actions will always speak louder than words. When managing a remote team, you need to lead by example. You need to follow your procedures and try to avoid any form of conflict within yourself. As far as management is concerned, they can achieve the same by tying as much as possible to avoid saying things that might hurt team members. They also need to work on ensuring disagreements are solved amicably.

Build teams that can blend

One of the easiest ways of building teams that can work together is based on building teams based on geography and personal characteristics. Depending on how your business operates, not all team members will always work together. You may have a set of teams that have come up to work together based on the nature of their tasks. Consider time differences and geographical location as a key factor in distributing members on the teams they will belong to. Additionally, work on setting up teams based on their skills and key characteristics.

Host catch up meetings

One of the best ways to bring your teams together for information sharing and bonding is through hosting meetings. Meetings are very important for information sharing and can be key in helping the growing workforce stay more organized and motivated. If you want your organization to grow, you must ensure your teams come together through meetings and encourage collaboration and information sharing.

Recognize and award achievements

It is important to recognize and reward good performance among your team members. One of the things that should never lack among your team members is morale. It is important to keep your teams highly engaged and motivated at all times. Employee satisfaction will be higher when management can notice and reward good work. Recognizing achievement should always be a collaborative experience and you should always encourage your members with rewards. Teams will be more motivated to deliver exceptional results if there is a motivation for rewards.


Why Startups Need to Invest in Marketing

The life of an entrepreneur is never easy. Startup founders working in any industry be it towing service, fashion, tech, etc. are bringing their ideas to life daily. They will never have enough time and will find themselves juggling from one area to the next to have processes work according to their expectations. For a business to grow, it must make sales. One way of accelerating the process of generating revenue is through marketing.

If you are running a startup, here are some of the reasons you need to invest in marketing.

More than email Marketing

Marketing is more than just a clever email marketing campaign or running ads on social media. It is a discipline that should be part of any startup’s process. A startup doesn’t have to establish itself just by building a great product. However, it can achieve its mission and vision by having an inclusive and aggressive marketing strategy and having its products and services at the reach of all potential prospects.

Marketing is more than ideas

You can have the best idea in the world, but if you fail to couple your strategy in a story that you can share with your audience, no one will know what you stand for. You can seek the help of an agency that you can partner with to help spread your story. Ensure the agency you choose to help you can both believe in your story and also have strategic insights to help spread the story to the world.

Get marketing from the word go

You should never think of marketing to be an expensive affair that should be avoided. If you start to establish your startup without marketing, you will struggle a lot. Marketing should be the highest ROI toolset in the arsenals of a startup. You will never have any place to find market validation, critical early feedback, and organizing your distribution channels than through streamlining your marketing operations.

Establishing a Strong Brand

Marketing helps startups to establish a strong brand, and that is one of the best investments a startup can make. Smart marketing can work wonders in legitimizing a new company and creating much-needed excitement and engagements with clients. No one knows you yet, so it’s important to ensure you get people who care enough about what you offer.

Customer Acquisition

Without marketing, no startup can acquire new customers and convert them into potential clients. Customer acquisition is what allows a startup to get established and grow into a mature company. You can do marketing internally without having to hire an agency to carry out expensive processes for you.

You should always be marketing even before you finish developing a product. You don’t necessarily have to launch an incomplete product to the market, but to make the launch a little bit easier, you can entice your prospects with what’s coming up. With time, as you grow, you can now consider outsourcing marketing processes to an agency that can accelerate your rate of growth.


Sure ways to Increase Your Market Share

As a business, be it you are involved in simple carpet cleaning or complex eCommerce, knowing your market share tells you how you rank against your competition. For you to grow, you must increase your market share. When we talk about raising your market share, we are talking about making informed marketing decisions that help in contributing to the overall sales and customer retention.

Market Share

Increasing market share entails increasing the efforts you put into sales as a business, and making use of new and additional strategies to help you get there. Market share refers to the percentage of total sales in an industry that is generated by a particular company. Market share is calculated by taking the company’s sales over a certain period and dividing it by the total sales of the industry over the same period as well.

Essentially, market share is how much you make as a company in the industry, and how it stacks up against others. To increase your market share, you must make more sales than your competitors and increase your share in the industry you are involved with. This is much easier said than done, but to do it, here’s what you can do.

Find your niche and stick to it.

Your company needs to have a few characteristics that set it apart from the rest in the pack. You need to have a distinguished brand characteristic that enables people to more easily identify your company’s products across a line of similar-looking products. If your company can create a recognized brand identity, while at the same time producing higher quality products and services than the competition, you stand to increase your market share.


Innovations are very important if you want to stay current in your industry and increase your market share. While some design elements such as log remain the same, you must be able to make system upgrades from time to time, on the products you have on the market. As society continues to grow, you want to delight your customers with new products and give them a reason to continue using your products.

Engage with customers

Customers already know what they want and so, one way to reward them is to ask them questions on what they need. You need to come up with a carefully crafted survey that you can send to your loyal customers with questions about design, features, and updates they would want on the next product. Engaging with your customers makes them feel very much appreciated and valued, and you recognize them as a valuable contribution to your company.

Continue to delight your customers

You need to go above and beyond to create loyal customers and do more to ensure they are always delighted. There are bare minimum expectations your customers will have on you, and you must ensure those expectations are fully met. Additionally, to grow, you must think about acquisitions. You can increase market share by acquiring other small and rival companies and making them part of your process. You will need to be diligent and perform a lot of research to identify the best mergers which would give you the maximum force.


Benefits of Educating Prospects with Free Content

The main goal of any business such as towing service or any other is to present prospects and customers with solutions they need, in exchange to making profits. Sometimes, your prospects may not be able to purchase from you because they are not aware of what you offer. It is your duty to ensure you educate them on what you offer. One of the best ways to ensure your prospects and customers understand what you offer is through educating them with free content. Offering free content to your target audience and prospective customers can help in pushing the products and services you sell.

Here are the benefits of educating prospects with free content.

Building trust

Free content is great at building trust. Using free whether in the form of blog articles, eBooks, videos or webinars can do wonders in boosting brand trust and credibility. Quality content also shows prospective customers that your business is a thought leader in your industry. This will translate into initial trust for your products and services. Additionally, if the content you are creating is educations, it helps your prospects learn something new and in some way, it can solve their problems.

Creating prospects

Free content helps in creating prospects and turning customers into evangelists for your business. If prospects and customers find value in your content, you could end up with very powerful content evangelist. These will be people sharing and promoting your content on your behalf. It can be very beneficial because it helps in expanding the reach of your content and generating brand awareness that go beyond your direct network. Happy customers are also known to be best advocates. They have first-hand experience with your brand and consumers have a tendency of trusting each other more.

Driving traffic

Free content does wonders in driving traffic. Creating content presents a fantastic way to get found online and increases the chances of traffic you can get to your site. You can drive traffic to your site through methods such as SEO and ranking on relevant keywords, but offering free content on your site will increase the chances of getting high organic traffic. Additionally, promoting content on social media will increase your referral traffic as compared to using expensive methods of paid marketing.

Providing qualified leads

Free traffic provides qualified leads. This is a huge benefit of free content, especially if is is quite educational. The more prospects who read your content, the smarter they become about your business on what you offer, and it becomes easier for them to do business with you. The better you educate them, the more qualified they become as leads and the easier they become to convert.

Additionally, you need to understand free content makes for happier customers. When your content is effective at communicating and educating customers about what problems your products and services can solve, they develop better expectations as customers, and this is what makes them happier. Rather than blindly purchasing from you, they will now fully understand what you offer.


Ways to Use AI Writing Assistants for Customer Service

In 2018, there was a prediction that remote work would become a standard business function of the future. That future quickly arrived in 2020 and has presented an array of unexpected challenges and pressured businesses to adapt to an environment that is full of new rules and regulations.  Remote working is here to stay and the best communities can do is to work on apps that would support their business functions.

Artificial intelligent assistants have become more common and help businesses to be more productive. Here are some of the ways AI assistants are being applied in business.

Integrating AI for copyediting

People in business are now integrating AI as their copyeditor. If you are using Gmail, you are already benefiting from AI as it helps with small business tasks such as auto-completing words and sentences and also providing advanced features for exploring your inbox. If you support customers via email or chat, the AI tool can help you position your responses to customers in a more efficient and clear way. AI writing assistants help in editing sentence structures, grammar, the tone among others.

Standardize test-based responses

Not everyone is a natural writer and some people would rather call a customer directly than type lengthy explanations. Sometimes, a direct call is the best step to take, but you will be faced with situations where a customer will request a text-based response in addition to a phone call. AI writing assistants help employees focus on the most important aspects of writing, and manage the tedious phrasing for them.

Avoid miscommunication with customers

Communication software such as Slack and Zoom allows people to chat internally. However, sometimes, thoughts and ideas don’t always come across as intended when delivered via a text-based medium. With text, constructive criticism may sound too direct and a slightly sarcastic comment might come as too aggressive. This is where AI comes in to help businesses have more control and insight into what their teams are writing because consumers are paying closer attention to a brand’s voice and messaging.

Write with an equitable and inclusive perspective

AI is being used in ensuring writing is inclusive, and open-minded, in a way that is not biased towards any group. Some AI apps can identify the racist, insensitive or offensive language and offer suggestions on correcting or improving the same. It is the work of business leaders to deliver in a way that is inclusive to everyone and take necessary steps to ensure there is no form of bias to any group.

With the help of artificial intelligence applications, businesses stand a better chance of taking meaningful steps towards eradicating offensive language and ensure communication is up to the standards of cultural expectations. Some businesses don’t have any specific reason for failure to enact AI applications in their business operations. Others have been misadvised on issues concerning data and technological complexities and are just too cautious about implementing AI in their operations. With the rise of remote working, there is not a better time to implement AI than now.


Social Media Strategies to Boost Your Sales

We are living in a saturated and competitive world of social media, and it’s becoming increasingly hard to stand out. Businesses, regardless of size, have to set themselves apart and create eye-catching content that stands above their crowd. Everyone is trying to do their thing differently, to woe their following. There is a need to become more creative if you want to deliver results for your business. However, will the application of the right strategies, you can stand out. Here are a couple of ways to go about it.

Write enticing headlines

Clickbait is the way to go throughout social media. For people to click on your social media post, your headlines must be engaging. You need to include a shock factor or use trending and relevant phrases that would make your audience to be instantly attracted to what you have to offer. However, for the headlines you use, ensure they are not over-promising and under-delivering. Users would not need much thinking to decide if to click to a post or not, so ensure you also create a balance between the words you use on your headlines and their practicality.

Get a working website

Create an easy and accessible website and have it well optimized to work well on tablets and mobile devices. You will want your users to have easy navigation to your sites and enhance their browsing experience. A poorly designed and complicated website will frustrate your site’s visitors and turn them away. Ensure your site also offers opportunities for potential new customers to subscribe to your content.

Make use of social proof

Gaining more authority on social media can even work better if you show social proof of people who have had good interaction and success with your products or services. Get good and efficient testimonials of customers who have had previous good experience with your products and have them post photos and videos on social media while using your product.

Have a personality

Another problem companies have to deal with is the way today’s customers have a short attention span. If someone clicks on a link and it’s not immediately engaging, they are likely to get bored and they will move on. Most of us have a short attention span. To solve this issue, it is important to have a business personality that you can stick with. You can use visually engaging images and create a personality from the content you share. Have a goal of ensuring a large percentage of people click on your content and engage.

Be relevant

The more relevant you are to your audience, the more followers you will continue to attract. To provide relevance, you need to make use of good content that encourages readers to continue clicking and reading your content. If you have nothing so resourceful to share on a daily basis, then post less. Ensure every post has a purpose and form part of the core mission and vision of your company. Always stay relevant and unique.


How to Write a Mission Statement

A mission statement articulates the purpose of a company. It announces to the world at large why an organization exists. Every business should have mission statements that unify the organization. You should think of a mission statement as a combination of what a business does, how, and why it does it, and all this is expressed in a way that encapsulates the values that are important to you. It can be a challenge to clearly and concisely bring all these ideas together. For this reason, we follow a simple approach and guide on how to come up with a company’s mission statement.

Describe what your company does

When describing what your company does, there is no room to be fancy. You need to be straight to the point and say it as it is. What products or services does your company produce or sell? Get down to the basics and be straight to answer this question. Be specific on the purpose of your company. It can be selling shoes, providing educational services, growing market vegetables, designing phone apps, among others.

Describe how your company does what it does

This part can be tricky to fill out. This is because you will not be looking for a detailed description of the physical operations of your business. To be able to answer this part in the right manner, you should be able to incorporate one or more of the core values of your business into your description. Take time to list the core values of your business. You might have values such as; providing high-quality products, providing superior customer service, protecting the quality of the environment, ensuring equal access to resources, among others.

Add why your company does what it does

This part of the mission statement should describe your spark or the passion behind your business. Why does your business do what it does? You should take a moment of reflection to think about why you started your business in the first place. When you are done crafting one, have a look at your mission statement and see if it fully captures what you want to say, and evaluate if there is a better way of saying it.

Put your mission statement to work

Once you have crafted the mission statement of your business, the next step is to put it into work. You would want your mission statement to direct your business planning, and also be at the front and center of the minds of everyone who works and interacts with your business. It should also explain to your prospects why they would want to do business with you. Some businesses will go to the extent of making their mission statement the core theme of their advertising campaigns. You should make your mission statement highly visible on your business premises, websites as well as in all your marketing materials.

There are some notable examples of mission statements we should all look forward to emulating. An example of one to look at is Facebook. Founded in 2004, its mission is to give people the power to build community and bring the world closer together. This explains the reason why people use Facebook to stay connected with their friends and family.


How to Increase Productivity Using the Pareto Principle

When you understand the Pareto principle, you can use it to get more work done. Companies today heavily embrace the Pareto principle and in so doing, their productivity is heavily boosted. As a small business owner, you wear many hats, from administration to accounting to sales and marketing. With so many conflicting demands and priorities, it becomes easy to get overwhelmed. This is where you apply the Pareto principle. When you understand to apply this productivity principle, you can get more work done with less effort and boosted productivity

What is the Pareto Principle

Before we can have a look at how the Pareto principle can help boost your productivity, it is important to understand what the principle is all about. Termed as 80/20 rule, it was invented by the famed Italian economist Vilfredo Pareto, who observed 80 percent of Italy’s land and wealth was owned by 20 percent of its population. Translated to general terms, 80 percent of out outcomes are driven by 20 percent of our efforts. It doesn’t have to be exactly this figure, as you can try to find a balance between 75/25 and 90/10. This shows that if the 80/20 rule allows you to maximize your efforts, ensure everything you do is driving the highest level of results.

Adopting the 80/20 mindset in Business

Now that you have known what Pareto principle is, you should know its impact on business. There are different ways the 80/20 rule can transform your business. It will lead to less stress so that you don’t spend a lot of time working on tasks that do not produce any real results. When you work on things that don’t matter, you will feel the burnout and your productivity will be slowed down. Applying the 80/20 rule will hone your tasks so that it can have a real impact on your business.

Additionally, you will generate a higher level of engagement with your work. In addition to making you feel overwhelmed, you will be spending a lot of time and energy on tasks that are not important and not working, and as a result, you feel bored and frustrated and completely disengaged from your work. You can apply this rule so that you spend your time and effort on tasks that matter, and this may make you enjoy your work and be more engaged.

You will also create more time for passion outside your work. The principle will allow you to get more done with minimal effort. This will free up your time and give you more energy in your life so that you can pursue the passions outside your work – such as spending time with your family and exploring new hobbies.

To make the Pareto principle work on you, there are a couple of tasks you need to do. Track your time to identify all activities that eat at your time. Embrace automation as doing so presents a great opportunity to streamline tasks in your business. Focus on key clients as a small percentage of these clients will give you maximum revenue. Consider getting rid of anything that eats on your time and thinks beyond your business.