1. Corporate Branding : While you undoubtedly have the know-how of your industry and product, some aspects of marketing and business growth are best left at the hands of professionals. Hire a business coach for at least one session for ideas on how to brand your business. Even with the best product, a lack of brand recognition will lead to poor sales, so this is no area to take lightly. A business coach may be able to give you tips on how to apply for and get nominations for business awards which will increase the legitimacy and visibility of your business.

 

2. Adequate Employees: No matter how much of a control freak you are, you must admit that it's impossible to do everything on your own. Delegate! At the very least, get a personal assistant. Or find a marketing or accounting professional to handle the areas of business you are less keen on. Time is money, and it's better to pay a few professionals so you can focus on your strong skills and create a better foundation for your company to expand upon.

 

3. Attend Business Conferences: Networking is invaluable - if you have to shell out money to go to that industry conference in your town, do it! Sometimes it takes money to make money, but the potential contacts, clients, and investors you will meet will pay dividends down the road. If you're a Los Angeles entrepreneur, then don't miss out on that annual Los Angeles Business Conference where you will spend 3 days in close quarters with others you can learn from.

 

4. Update your Website: A clean, simple, easy to navigate website will do wonders for converting curious visitors into paying customers. Less is often more with a site. Use bullet points, bold font for headlines, and lots of space around the words. Text heavy sites tend to get skimmed over or skipped altogether. Remember, a picture speaks a thousand words. And always create a call to action that should be placed above the fold. Add a professional touch to your site but listing any seals of committees that you belong to, or small business awards you have won.

 

As a small business owner, you must pick and choose where to invest your money. By putting your money into these small, usually one-time investments, you will yield the returns for years to come. Knowing your product or industry isn't always enough in this competitive economy, so spend a little extra to get the professional competitive edge necessary to grow your business above and beyond what your competitors are doing.