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3 Top Things to Consider When Trying to Grow Your Business

As an existing business owner, you have already gone through many of the hardest steps. The time you spend developing your business plan, seeking out funding, and the first days after launching can be some of the most energy-sucking and time-consuming days in the life of any entrepreneur. However, it is fair to assume that you don’t want to rest on your laurels. Carving out space for your small business is critical, but so is growing that footprint. As you work through various strategies for growth, here are three things to consider.

The Efficiency of Your Fleet

If your business operates a fleet of any size, you need to maintain focus on its efficiency. It can be really easy to think that the original plans you developed are enough, but when you are talking about growing, it is important to understand that changes come with growth. In today’s world, sustainable processes, and emphasis on protecting the environment are things that society holds small businesses responsible for. It is very important to the modern consumer that businesses care about the impact they are leaving on the planet and people want transparency when it comes to learning about how your company will go about that. 

One way to accomplish this with your fleet is to explore electric vehicles. This might feel like a completely unattainable goal, but keep in mind that this is not something that has to be all or nothing. Depending on the size of your fleet, you might changeover only a small portion at a time, which is completely acceptable. You can expect to see growth in terms of your efficiency and potentially in your cash flow once you make this change. 

If you are not well versed on EV’s yourself, learning the basics is not something that takes a genius. Elements like the cost of an electric car charger are things that can be easily discovered through the overall process of converting your fleet. You probably also have questions about availability and timing, both of which are easily answerable. The basics of installing EV chargers for your fleet are just that, basic. Instead of talking yourself out of this thinking it’s too layered, do your research and expand your mind to the possibilities for growth that come with a more efficient fleet. 

Artificial Intelligence

Too many have the wrong idea about how much person power is required to grow a business. When the truth is that human beings can only do so much. Even the hardest working most dedicated employee will never be able to work 24/7 the same as an AI bot would. There is a common myth that implementing artificial intelligence means taking jobs away from people, which is not entirely true. What AI does is reorganize responsibilities so that your human employees are not bogged down every day with menial tasks that are preventing growth.

Another common myth is that artificial intelligence is unaffordable. While some AI software’s and technologies do have a high price tag it is important that you consider the return on investment before you write it off based on sticker shock. In many cases AI can lower business costs, offsetting the original expense of implementing it. If you have ever heard the term you have to spend money to make money, artificial intelligence is a great example of that adage manifested. 

Your Online Presence

Who you are online is so crucial. When consumers are seeking out products and services, the first place they are looking is online. Your brand, image, website, and online customer service capabilities are all things that can win or cost your business. As a business owner trying to grow, consider who you company is online. Are you a business with a website that is not user friendly and outdated content in terms of photos and literature? Then you need to pivot and rework your image to become more modern and relevant. 

Additionally, your social media needs to be a top priority. Sometimes business owners don’t think that they need social media because their current client demographic is not one to utilize it. Even if that is true, we are talking about growth, so that means you should be optimizing for future clients as well as working to keep current ones satisfied. If you are not social media savvy think about hiring a social media manager, either in-house or outsourced. These professionals can shine a light on current trends, forecast future ones, and overall give your business a proper image and presence online.

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Rick is a two time best selling author (his books have become Wall Street Journal, USA Today, and Amazon best sellers), investor, and mentor. His work has appeared in the most authoritative publications, including Good Morning America, Washington Post, Yahoo Finance, MSN, Business Insider, NBC, FOX, CBS, and ABC News.