Community Involvement

5 Ways to Boost Your Small Business’ Growth Through Community Involvement

Companies that go the extra mile to distinguish themselves from their competitors see many benefits. One way to do so is through community involvement. Learning and meeting the needs of the community gives small businesses the opportunity to network and meet new clients. Even before starting a business, being involved in the community provides important information on which goods and services are actually needed.

Consider the following ways you can contribute to your community, while also boosting your small business’ growth:

  1. Build relationships within your community

Start by asking yourself what’s important to your community. Take some time to look around and see what areas are struggling. Each community will differ, based on its location, climate and demographics. Becoming a member of neighborhood organizations, local business councils or other groups will help you meet people. These acquaintances then provide opportunities to inquire after ways you can help boost the community.

  1. Meet community needs – offer quality products/services

Once you’ve identified an unmet need, you can develop a high quality product or service. This need presents your business with a competitive edge in the market. The idea is to create such a high quality product/service that others will not be tempted to offer or feel that they can offer something better. Your goal should be to excite consumers with an exceptional product/service that they will want to recommend to their friends, family and associates.

  1. Stay exclusive

Where there is success, others will likely follow. To avoid having other businesses trying to emulate you and steal business away, you can become the exclusive regional dealer of a particular product. Ultimately, staying exclusive will help your business stand out from the competition.

  1. Include your employees

Including your employees can have so many positive outcomes. For example, as they give back to the community, it builds a collaborative and inspired team. Volunteering also provides employees with leadership opportunities. In addition to increased productivity and sales, the boost to morale and increased staff performance is priceless.

  1. Follow trends

So what happens when you’ve met the community’s needs, established exclusive rights and increased sales? It’s time to take another look. Communities change, and therefore their needs as well. To be successful, you must frequently ask yourself what new products or services might appeal to both current and potential consumers.

As you turn your attention to the needs of the community, don’t forget to consider ways to fund those new products and services. If your small business has been categorized as “high risk” and options are limited, consider what a merchant cash advance from an alternative lender – like First American Merchant – could do for you. This option is fast, simple and hassle-free. Allowing you to focus more on the community and your business, and less on the where and how of finding financing.

 

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