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4 Secrets to Small Business Growth

By
Services for Real Estate Pros with Round Table Companies, Writers of the Round Table Press

These are the main points to a speech I used to give years ago and still emphasize whenever I get the chance, because I truly believe they are the touchstones for the success of any small business:

DEVELOPMENT: Most businesses understand and implement development; most in fact, devote too much time to this area and not enough to others. Development is anything related to the growth of the company's product or service line. Working with the product/service, preparing new products or approaches, evaluating performance, enhancing current models, investigating the competition, reading books and articles on the subject, reading and learning from others, etc. The standards of your development must be exceptionally high, as your offering will have to deliver when the rest of the system is working effectively and leading people to experience the product/service.

MARKETING: Whether it be your website, CDs, brochures, direct mailers, emails, etc. What is most important about your marketing materials is that they truly reflect remarkable attention to detail on your part. Your marketing materials, unconditionally, must represent the quality and core values of your company. Shabby or unimpressive marketing tells people that your company is shabby or unimpressive. This is an area where most small businesses fail to excel. It is a tremendous opportunity for those who comprehend the relevance of exceptional marketing.

NETWORKING: Every single person you meet falls into one of two categories: either they can become a buyer now (immediate buy-in) or they can become a member of your fan club (eventual buy-in). Understanding this principle and taking advantage of it is imperative to building an audience and support network for your company. Collecting contact information from other people and keeping it organized, gives you an opportunity to direct your PR efforts towards them, keeping them informed and impressed about your growth and eventually getting them to buy into your business in greater ways.

PUBLIC RELATIONS: PR is the way you communicate with your growing audience. This is your outreach. What you have to understand as a creative person (which all business owners are) is that if you don't tell people what you're up to they assume you're doing nothing impressive. How does that help you? Conversely, if you continue to keep people informed about your victories, you give them the ability to emotionally buy into your journey. Eventually, as you grow, these are the people who will be your greatest support network, because they will feel that your success is something they can share in because they have watched your business grow.

David Popoff
DMK Real Estate - Darien, CT
RealtorĀ®,SRS, Green ~ Fairfield County, Ct

Corey, good points to bring up and I agree the more you put in the more you get out...quality not quantity. Good AR post.  Short but concise ~ Suggested

Dec 08, 2010 12:38 AM
Mel Ahrens, MBA, Kelly Right Real Estate
Kelly Right Real Estate - Hood River, OR
Customized Choices for your Real Estate Needs

Hello Corey,

I agree - some very good concepts to put into practice.  My suggestion would be to add one more point - Performance. Make sure performance meets or exceeds the customers perceived expecations from your development, marketing, networking and PR efforts.

Mel

Dec 08, 2010 08:54 AM
Corey Michael Blake
Round Table Companies, Writers of the Round Table Press - Chicago, IL

Great point, Mel.  Performance is what we are absolutely working toward when we put these other concepts into practice, and not just any performance; exceptional performance!

Dec 10, 2010 04:41 AM