If you are considering starting a business in Brampton or already operate one, then you are on the right track. The city has undergone a lot of development since the early 1980s. In fact, it is one of the highest growing cities in Canada.
For a business owner, consistent growth in population means more potential business. You can easily set yourself up to capitalize on this growth with some tangible tips to incorporate into your company model. Here are some helpful things to remember.
1. Learn to focus on your objective. When you first started your business, you obviously had a few key objectives to develop. If you own a printing company, that may be to “provide the top quality printed materials to small-large businesses in the area.” It’s easy to look at overwhelming growth in the market and be dazzled by the possibilities. Don’t let that distract you from your original intent. There’s nothing wrong with expansion (you should even learn to welcome it gradually) but if it is going to distract your company from its objective, you may have to pass, or at minimum, postpone. As Ralph Waldo Emerson famously stated, “Concentration is the secret of strengths in politics, in war, in trade, in short in all management of human affairs.”
2. Practice your elevator speech and be ready. If you are new to the world of business, you need one. If you are a seasoned business person you need to consistently revisit yours. The fact is that times change; the market changes. What worked for your business five years ago may not work for it now. Be sure that you practice it on friends, family and co-workers. Get their perspective and work on it. Even the best elevator speech can be honed to be better. You can find plenty of tips online to help you work on yours.
3. Learn quickly when under fire. An influx of potential means that you likely are going to have to do things that you may not be accustomed to. Remember that businesses have to be fluid these days. The same holds true for business owners. Keep your skills sharp by reading journals and online newspapers. Better yet—with today’s internet market it’s easy to set yourself up to automatically receive headlines in business or technology. That way you can take 5 minutes every afternoon to brush up on what’s happening in your market. Remember, according to Catalyst Leader Bad Lomerick, “The goal is not perfection but rather a posture of moving toward healthy habits and characteristics.”
4. Stay current with the new technologies. That isn’t to say you need to be an expert at everything (that’s impossible) but at least have a superficial understanding of the latest tools other business owners use. In particular, focus on what people in your market use. This is where a professional association may be helpful. You also can have someone on your staff focus on bringing in new efficiency tools periodically. Let them test out the latest technology and see if it works for your business.
5. Learn to network effectively. Join some communities, attend trade shows, get involved! Meeting people is only going to help you 1) spread the word on your company and 2) gain support to call on if you need it. Plus, it also gives you the chance to be relevant to other business owners, which will only develop your skills more. Remember too that when exploring business ideas for Brampton businesses, you should use networking to gauge the market you are in, or want to get into.
6. Use social media to your advantage. Lee Iacocca stated “You can have brilliant ideas, but if you can’t get them across, your ideas won’t get you anywhere.” This is where communication comes in; in today’s market communication primarily means social media. It’s no secret that social media has increased tremendously in the past decade. While in 2000 it was just getting started, no one can argue that in 2016 it has taken over. A great business without a viable online presence that is active and engaging is like a beautifully-maintained car without a motor. Just look at the statistics of social media and business. It’s easy to see that it is the central focus of most consumers today so take full advantage of it.
7. Make your social media relevant. With social media you have a great opportunity to share your business, but it’s a lot like first impressions—you only get one chance at it. Do some research to find out what your target market really wants information on and then be the one to give it to them. Some social media will limit you, like Twitter. You only have 140-character messages to share your business. Make sure the information you share is important to the reader and adds some value to their life. This is the best way to keep them coming back.
Whether you have been in business for years or you’re new to the market, be sure to practice your skills and push yourself to keep developing. One of the best things about business is that it’s not really about honing your business, as much as it comes down to honing yourself. Someday when you look back at the years of a successful business that you built, you’ll understand that.