2021 was a complex year for small business owners – for many reasons. Whether it was a good year or a bad year for you, or if you just started a business, 2022 offers a new opportunity to grow your business. Below are eight small business growth strategies and tips to help you reach your goals.

Build a Business Plan For Success

If you do not currently have a business plan, you need to write one. Writing out a business plan forces you to think through various aspects of your business, such as your products and services, your target customers (more on that later), your competition, and your marketing plan.

A business plan also helps you formulate revenue projections and set goals for your company. Take the time to think through all of these aspects and create goals for 2022. If you have an existing business plan, it's time to dust it off and update it with new goals and projections.

📌 Pro tip: Sign up for Skip Premium or VIP and get help with your business plan and business funding options.

Increase Your Online Presence

It doesn’t matter if your business is thriving offline or not, having an online presence is vital for future success. The eCommerce industry is growing about 23% every year, and some estimate that 95% of all purchases will be online sales by 2040.

If you do not have a website for your business, 2022 is the year. A website helps give credibility to your business, it can increase sales capacity (especially in the years to come), it builds brand awareness, enables you to engage in email marketing, and a lot more.

Social media is another avenue you cannot ignore. 45% of social media users reported researching brands and products on social media and 67% purchased a product that was advertised on social media. Even focusing on one or two social media platforms where your customers are active can give your business a big boost.

Attract and Hire Quality Employees

One of the key ingredients of a successful business is a strong team. Having quality and committed employees can have a tremendously positive impact on your small business growth.

According to recent labor statistics, there are still 10.6 million job openings in the U.S. and not enough applicants to fill them. In fact, there are only 0.7 unemployed persons for every job opening.

To attract quality employees, write accurate and detailed job descriptions so applicants know exactly what will be expected of them. Then, match incentives of businesses in your industry to make your company as attractive – or more –  than your competitors.

This could mean offering a sign-on bonus, a hybrid work model, or other incentives.

Cultivate a Strong Company Culture

In addition to battling financial strains and adopting Covid-19 safety protocols, businesses have battled massive waves of resignations in what has been called “the Great Resignation.”

One of the best ways to retain quality employees is to develop a strong company culture. In 2022, make an effort to bring the company together for events – as safely as possible – build trusting relationships through transparency, have an open-door policy so your employees can voice their concerns, and be as flexible with schedules as possible.

Reduce Company Risks

Conducting business inherently comes with some level of risk, but having adequate business insurance can provide a buffer against major liability issues. According to one study, 75% of businesses are underinsured.

There are many different types of business insurance, but the three main types of insurance to consider are general liability, workers’ compensation, and commercial property insurance.

• General liability. General liability protects you and your business should someone — a client, customer, vendor, etc.– sustain an injury on your business property, or from using your products and services.
• Workers’ Compensation. Practically every employer is required to have workers’ compensation insurance. It covers the medical costs and lost wages when employees are injured on the job or get sick from performing their jobs.
• Commercial property. Commercial Property Insurance protects a business against accidental damages, vandalism, or loss of the physical building and assets.

Ensure that you have the right kind of business insurance and adequate coverage so you and your business are protected should the worst happen.

Invest in Marketing

To get ahead in these uncertain times, invest in marketing and spread the word about your business. Marketing must be part of your business growth strategy in 2022, but it doesn’t need to break the bank.

Utilizing social media ads, google ads, regular print advertisements, and other marketing strategies can all be effective ways to make your business known and attract potential customers.

If you have a website, directing traffic to your website and building an email list can be very effective as well. Whatever path(s) you choose, make room in your budget for marketing.

Focus on the Right Customers

Do you know who your target audience is? Do you know their needs, wants, and interests? If not, this is a top priority for you because you will not be as successful as you can be if you can’t meet your customers’ needs.

Creating customer/buyer personas is a good way to start thinking through your customers’ needs and how you can solve them.

If you do know your target customers, are your products and services meeting their needs, wants, and interests? Connect with your existing customers and ask them for feedback. They are the perfect people to tell you how you are doing and even offer ways you can improve.

Prioritize Customer Service

This may come as no surprise, but to grow your business in 2022 you must prioritize customer service. If you do not give your customers better service than your competitors – that’s where they will go.

Customers feel valued when their questions are answered and their problems are solved quickly. Always go above and beyond to help your customers and ensure your staff is fully trained to provide the best experience possible.

Don’t forget to ask for reviews and testimonials because 88% of buyers trust the recommendations of online reviews as much as personal references.

Get Help With Business Funding

Do you need help getting funding for your business to grow in 2022? We can help with EIDL, SBA loans, grants, or other business financing options. Get ongoing personalized help from our team. Join Skip Premium today and get 1-1 support for your business.

How Else Can Skip Help? Whether you need help navigating small business funding–like SBA loans, grants, or other financing options–or help with other government-related services–like TSA PreCheck or DMV appointments — skip the red tape.