Hit a Plateau? How to Get Your Business Rising in the Ranks Again

Hannah Whittenly

August 17, 2017

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Starting a new business and turning into a profitable company can be a challenge. While getting a business off the ground can be had, another challenge that many business owners face is preventing a business from hitting a plateau. For those that have hit a plateau and are struggling for more growth, there are several tips that should be followed.

Hire Employees

One of the biggest risks that a business can take on is hiring new employees. Many business owners are wary of doing so due to the high cost. Unfortunately, those that do not hire end up hiring additional staff will waste a lot of time on mundane and administrative tasks. By hiring staff, even on a temporary or contract basis, you will be able to free up a lot more time to focus on generating new sales.

Expand into a New Location

Another way to give your business a push in the right direction is to expand or move into a new place. Through the use of an experienced real estate firm, like Re/Max of Boulder, Inc, you can find a new business location that will make your company feel new and young again. Simply doing this can help provide a fresh start for your company and energize you and your staff.

Utilize CRM

When you are looking to grow through more sales, you need to be able to carefully track all of these sales. One of the best ways to do this is through the use of CRM software. CRM software will help you to better organize your clients, sales efforts, and results. This will help you get a better sense of your sales conversion rates and determine which sales approaches are the most effective.

Consultant

While you may not think that they provide a lot of direct value, many businesses do much better after hiring a consultant. A consultant can give you an objective opinion about your business and what needs to be done to grow. They can also provide you with a process on how to get there.

In conclusion, building a new business can be an incredible challenge. Those that are able to get through the first few years of operations and become profitable are better off than the vast majority of business. Unfortunately, many of these business end up hitting a plateau and are not able to continue to grow. Fortunately, there are several tips that can be followed to help you get over the plateau and grow.