Not making enough money from your small business may be due to you not doing enough advertising, or due to you not using enough good advertising methods.
Of course there may be other reasons as to why you are not making enough money from your small business. Maybe you don’t always have enough stock – you can’t keep up with demand – and then you may need to consider longer working hours or hiring somebody to assist you.
Or, another reason why you are not making enough money from your small business could be that, as proud as you are of your products or services, you need to work at improving them, or need to work at introducing similar products or services that has a wider target market.
Very often, though, the reason why you are not making enough money from your small business may be due to lack of advertising, or lack of good advertising.
Think about it: You’re alone at home and you sit down and craft an amazing product – a product that many will find useful and that many will want – but you tell nobody about it and you show it to nobody. It’s not going to sell.
Then, still using the same example as in the above paragraph, you tell a few people about your product and you show it to a few people. A few of those people like the product, want it, and ask you to make more so that they can all buy it.
Next, one step further: you now go crazy advertising your product – either spending a lot of time on inexpensive or even free methods of advertising, or spending a lot of money on quick but expensive methods of advertising – and you are now putting your product in front of the eyes of a lot more people than you did before.
Imagine that showing 10 people your product resulted in 2 of them buying it from you.
Now put that same product in front of the eyes of 10 000 people and you may have 2 000 of them buying it from you.
Not making enough money from your small business? Do something about it! If you don’t have the money to use quick, effective, but expensive advertising methods, perhaps start off with spending a lot of time on using free advertising methods. Once sales have picked up, you can start using other types of advertising too.
Disclaimer: Figures are used as example only.
© Copyright Teresa Schultz 2014
