Building Your Business for Growth with Web Marketing
It’s a fact there are way too many business plans prepared with exceedingly optimistic projections. The plans I’m referring to show the entrepreneurs generating an enormous amount of dollars in revenues in just a few very short years.
Unfortunately, such amazingly expansive growth is a rarity in today’s economic reality and rarely occurs even in the best of times. And if you want to turn off angel investors and venture capitalists, such overly optimistic projections will quickly achieve your objective.
But, many inexperienced entrepreneurs argue at times that such extreme growth is in fact possible in business, and they quickly observe, “Just look at Groupon or Facebook.” Obviously these two business examples are rare exceptions to the rule, as both have exhibited dramatic growth almost exponentially in terms of customers, revenues and market footprint in just a relatively few short years.
Turning a small business into a big one is never easy and facts show it can be very difficult, and the statistics that back the facts are quite grim. Most research indicates that only one-tenth of 1 percent of companies will ever reach the high-level of $250 million in annual revenue or more. The percentage to reach $1 billion in annual sales is infinitesimal, so the bottom line in other words, is most businesses start small and end up staying there.
But of course, if that’s not good enough for you or more importantly, if you recognize that staying small doesn’t necessarily guarantee your business’s survival, there are companies out there that have successfully made the transition from start-up to small business to fully-thriving large business, Google, Facebook and Groupon to name a few.
On the surface, it may appear that certain industries are so crowded with competition these days that it’s hardly worth entering the market. But you should never let a crowded market deter you. Business-savvy small-business owners and entrepreneurs are still gaining a competitive edge in industries where you wouldn’t think twice about the chance of gaining any edge.
The experience of highly-successful entrepreneurs allows them to find and develop ways to make their businesses stand out in a crowded market. Operating in today’s highly connected global economy can at first seem a daunting task, but the realization of dramatic increases in the number and size of market niches by the Web certainly makes the task of connecting with consumers in the market easier. Social Media and Web Marketing offers not only achievable success, but an even greater level of success than previously envisioned.
Understand you should never assume that bigger is always better, as steady business improvement is much more crucial and important for success than expansion.
Finally, you should be aware and understand the difficulty involved with business growth and go into it with clarity of focus and eyes wide open, knowing that you can stop at any time. We have found that businesses don’t necessarily have to grow or die, but the reality of the market is they must improve or die, meaning business’ have to always focus on, and strive to improve their customer value proposition or run the ever-present risk of going out of business.