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How To Reach The 5-Year Mark Without Imploding

16th Nov, 2017

Starting your own business isn’t actually the hard part; the real challenge is keeping it alive in the industry. It is vital that we think about ways of growing your six figure microbusiness into a seven figure small business. What is your value proposition? Dedicate your time and money on adding value for customers.

Customer satisfaction

In today’s world, companies are gradually competing to win customers over by meeting and/or exceeding their expectations. The key to running a successful business is customer satisfaction- both internally and externally. Founder of Virgin Group, Mr Richard Branson affirms, “I have always believed that the way you treat your employees is the way they will treat your customers, and that people flourish when they are praised.” Therefore, focus on satisfying your internal customers (employees) for them to successfully provide excellent services to your external customers.

Overcoming setbacks

In the early stages of scaling a business, you will undoubtedly face several hurdles and setbacks that might test your resilience. The best way to overcome a setback is to step up and do it again. There’s a popular proverb that says, “Fall down seven times. Stand up eight. Adversity is where the growth begins.” In fact, entrepreneurs who succeed are those that are willing to go the extra mile and do what others aren’t doing. But to be on the safe side, it is important to consider insuring your business via KCB Insurance. For instance, the KCB SME Business Insurance package is a comprehensive cover that insures investment made by the Small and Medium sized Entreprises (SME).

Networking

This is an opportunity for you to get your name out there and network as much as possible. It is evident that having a well-established network is an essential part of our lives. This also enhances your business operations because you never know when you might need an electrician, plumber or landscaper.

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