Small Businesses still need to be careful when it comes to growth despite improving economic conditions. But direct marketing firm, Ventas Central highlights that these small firms can actually thrive in an economic recovery if they follow certain rules.
Small Businesses can suffer most during times of economic downturn, they often don't have the huge client base needed to survive and starting can be even more difficult as people are uncertain about lending money during these tough times. However, the businesses that do succeed during these situations can aid the economy greatly. Start-ups and small businesses provide an abundant of new job opportunities as well as new products/services that drive consumer spending.
Direct marketing company, Ventas Central, believes that small businesses don't have to just simply survive in an economic recovery; they can thrive if they follow these steps.
Planning, provision and patience
Small businesses that are looking to grow need to ensure that they plan thoroughly in order to be successful. Identification and research of potential requires extra capital, effort and resources. Many businesses are unsure about this even during recovery but if the opportunity has been identified and planned well enough it is likely to succeed. To cover any problems a business owner should ensure there are significant funds available to allow for any potential dips or delays.
The best growth opportunities will come from investing in top talent as quickly as possible. Employers should use the less pressured economic climate to bump up their staff base. SMES can consider alternatives to full-time hires, such as interns, freelancers or part timers to cover important tasks if they cannot afford to take on full-time staff. The best people working on a solution, the better the results. But employers must strive to create an environment where those people can thrive and develop as individuals in order to create the best results and ensure growth.
Innovation or business as usual?
To drive growth SMEs need to be doing business better than usual. However, innovation must always be approached with practicality in mind. Pursuing innovation for innovation's sake is not going to help matters. In times of economic recovery it is wise to focus spend on areas that have the highest growth potential and not ideas that sound great on paper but don't actually work.
Perks of being small
Although caution remains surrounding business growth smaller business can use their innate agility to maximum advantage. Embracing flexibility means that business tasks can be completed in less time at a lower cost. SMEs must be more open to networking, outsourcing and exploring new markets and finance options. Being a smaller business means that it can be faster to try new things and easier to unite teams to work towards key goals.
Ventas Central is an outsourced sales and direct marketing firm located in London. The firm specialises in face-to-face marketing methods as they believe this is the most effective and most personalised service available. The firm develops honest and effective campaigns for their clients that are then taken directly to consumers to create long-lasting and personalised business relationships.
Ventas Central works with a range of clients including small businesses. By using direct marketing services, Ventas Central can work on a 'no win = no fee' basis which means that their clients do not pay them until the results they desire have been achieved, providing their clients with a high ROI. As well as this Ventas Central work to improve their clients' customer acquisition, brand awareness and brand loyalty, helping them to expand and grow.
Press release distributed by Pressat on behalf of Ventas Central, on Thursday 23 October, 2014. For more information subscribe and follow http://www.pressat.co.uk/