Paul Larrieu, II | Demand Generation and Management Consulting
Posted on August 9, 2017 by Paul Larrieu II on Demand Generation, Leadership, Strategy, Time Management

4 ways to increase the bottom line for your small business without spending a dime

This article was originally published as part of an Op-Ed on the Louisiana publications Weekly Citizen and Donaldsonville Chief

Running a business is tough – make it easier by bringing customers to you instead of the other way around.

The old adage is that small businesses are the cornerstone of America. With over 55% of the jobs in the U.S. and 54% of the jobs in Louisiana being supplied by small businesses, it’s no wonder why. But running a small business is far from easy. You’ve got to hire people, promote your offerings, not to mention run your business! While there’s often more than one constraint, having the financial resources to fuel your ambitions is usually a big one. So how do you build and promote your small business when you can’t find the money to do it?

Business development

Chances are if you run a small business, there are plenty of other small businesses nearby. And more often than not, the same types of neighborhood customers that frequent those businesses also come to yours. Getting in there and knowing each of those business owners is a good way to develop your network, share customers, and generating new sales.

Quick tip: Carve out some time each week (start with 1-2 days) to business develop. Get a map and map out all the small businesses that are within a 5 mile radius of your business. Create a plan to walk into those businesses and sit down with the other owners. See what you can offer them. For example, let’s say you own a bar. You could offer them ad space somewhere on your bar counter (like a wine tent).

Exchange that advertising for a sign with your logo and happy hour specials at their store’s checkout counter. Now, without spending any money, you’ve just traded point-of- sale advertising! Building up these types of relationships are sure to benefit not only you and the other small business owners, but also the community as a whole. If nothing else, a quick introduction will go a long way.

Read more on weeklycitizen.com

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