Entrepreneurs are always looking for ways to do more with less. Whether you are a seasoned veteran with a successful business or a new startup, you are always going to be looking for ways to grow. Some ways of growing are worth the expense. For example, hiring a great sales person. But, there are other ways to grow that can help you succeed in big ways that don't cost anything. Here are 3 of them.
1.) Partnerships/Joint Ventures
One of the easiest ways to grow is to create a partnership or joint venture with another company or entity that has complimentary products or services. You can then bundle your services with theirs an they with yours to create an even more compelling offer. Additionally, you can do a revenue share together when you bring them opportunities and they can do the same with you. You also get access to now sell to their customers and they get access to yours. It costs nothing to do this other than a little time and ingenuity.
If you have a product that people people can buy online or without interacting with a sales team on your side, an affiliate program may be a good way to go. You can pay commission to those that bring sales to your door. This works great with influencers, brand ambassadors, and those with big networks looking to monetize them. All this takes is creating an affiliate page for people to sign up and coming up with a commission structure. You can use Paypal to start as a way to pay commissions and then go seek out influencers and those that would be a good fit with a good audience for your product or service and invite them to be an affiliate.
3.) Current Customers
This last should come as no surprise. One of the best places to get new business and grow is by getting referrals from your current clients. If you take good care of your clients, all you really have to do is ask them. But, you may consider putting in place referral program where they receive an incentive of some kind for referring you if it makes sense for your business. Again, this costs nothing except taking good care of your clients and some sweat equity.
So, there you go. 3 ways to grow your business whether you are seasoned or start up that cost nothing other than time, a little work, and ingenuity.
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