Let me tell you about my client. He sends me an offer and wrote that the business plan is for a catering business, and all that he wanted is my advice on how he’s going to generate cash in this period like this.
I was so happy, though I usually see the business plan I write has my own after written all the SBA nine sections of a traditional business plan identified by the SBA which are:
- Executive summary.
- Company description.
- Market analysis.
- Organization and management.
- Service or product line.
- Marketing and sales.
- Funding request.
- Financial projections.
As I started writing the executive summary that came last which is the summary of what the other might contain, what came to my mind is delivery at client doorsteps. I know most of you know the solution already but this client is new in the market so I suggest free delivery for the first six months as a promo for him which is really working, not only him aloneTop of FormBottom of Form, revenue in the UK online food delivery segment stands at a healthy £4,215m (€4,528m) so far in 2020 – up 11.5% in the year to date versus the comparable period of last year.
According to Statista, the total number of users is also on the rise. The market analyst firm reported 22.5m users, representing an increase of 9.8% in the same period in 2019.
Now, the coronavirus pandemic could be set to boost both revenue and user numbers in the sector even further. “Food delivery is going to be one of the winners of this situation.
So, it is very important to wisely use your knowledge when scaling a business.
When it comes to growing a business, there are many keys to success. Here are some candid tips:
- Focus on Your Customers
Never fail to remember that your customers are the reason why your business is still running. If it was not for them, you would not have a business, to begin with. You owe them everything for their loyalty and trust in you.
- Establish Loyalty
The market is insanely huge these days. No matter the business idea, competitors are easy to be found. In order to have loyal customers, you need to encourage loyalty first.
For your customers to remain loyal to you they need to have a reason to do so. There are many ways to serve such a purpose, for example, with promotions and discounts. These loyalty rewards will allow them to feel appreciated and not eager to leave you.
- Optimize Social Media
Social media is one of the most powerful tools for growing your business. If your business is not engaged in social media by now, you most definitely need to do it right away. It is one of the easiest and most effective ways to interact with your customers, run ads, therefore, promote your business and gain new customers. The best way about social media is that you don’t even have to spend money for people to hear about your business.