3 Tips to Bootstrap Your Small Business’s Growth 25 Nov 2019

If you were told to start a successful computer hardware business with only $10,000, you’d probably think it was impossible. But that’s exactly what Alienware did.

Alienware understood that gamers needed a computer that could handle running demanding, graphic-intensive video games. However, it didn’t have the resources to create its own hardware. So, it bought components off the shelf and reconfigured them for specific games.

Once Alienware received the cash it needed, it began creating computers designed just for gaming. It quickly dominated the market and was recently valued at $3 billion. How did Alienware make the leap from $10,000 to $3 billion?

Alienware attracted customers by investing in the business’ growth. The gaming company used the revenue from its early sales to create sci-fi inspired hardware. Its growth caught the attention of Dell, which later bought the company. It doesn’t take a ton of cash to expand your business. You just have to know where to invest your savings. Let’s look into three ways you can grow your company without wasting your money.

1. Use Your Website to Your Advantage

Your business’s website is prime marketing territory. Websites can draw in customers and convert visitors into leads. Building your website is also cost-efficient because you can do much of the work yourself.

Having a website increases your odds of selling your products, especially as more and more customers are purchasing online. By 2021, over 2.14 billion people are expected to buy goods and services online. Creating an attractive website can help you grow your client base. How can you make your website more appealing to your customers?

Your website should be mobile responsive, meaning it should be formatted for smaller screens and offer easy navigation. It should also have clean visuals and use clear copywriting. Native Union, a tech accessories company, showcases its products without cluttering the screen. An appealing color scheme ties different types of products together while a search bar and a fixed menu makes the website easy to navigate.

The right website helps you get more customers without breaking the bank. But, is an appealing website all you need? To draw in even more clients, try combining your website with a strong social media presence.

2. Build up a Strong Social Media Presence

Building up your social media brings your business in front of interested people. You can also interact with customers by answering questions or helping them solve a challenge they face.

Plated, a company that provides recipes and food delivery, tailors its social media to its clients’ needs. Its YouTube channel shows how to make Plated’s delicious recipes. On Twitter, the company account teaches clients how to photograph meals from different angles.

How can you build a strong social media presence? Find the channels that your customers and industry are using. Use the right tone for your audience. For example, some people prefer more casual interactions when they interact with brands. Others expect businesses to keep a professional tone.

Once you know what your audience responds to, you can make a community around your idea. Facebook groups and other social media groups create a sense of identity for your client base, drawing in more like-minded people.

Now that you’ve set up a solid social media strategy, you need to start posting informative content. How can contributing vital industry knowledge help your business expand?

3. Contribute Your Knowledge to Important Discussions

Adding your knowledge of the industry to online conversations attracts new customers. Contributing knowledge can also establish you as a thought leader and authority in your field, drawing attention to your business.

Generating in-depth content improves your website’s SEO as well. Neil Patel, a content strategist that offers companies help with SEO, creates a cluster of content branching off a single topic. By putting links to related content in every article, readers can dive deep into a subject without leaving his website.

Articles can do more than add value to your website. You get extra use out of your content by submitting it to industry journals. Increasing your exposure draws in more clients and shows them that you know your field.

If creating content seems like too much work, you can also talk to reporters and journalists about your industry. Try making yourself available on apps like Help A Reporter Out (HARO) that connect you with people who need industry experts.

Writing informative content grows your client base and increases your business’s reach. Content creation is also a cheap way to expand your company. Growing your business doesn’t have to take up all your cash. Bootstrapping your small business is another way to expand without burning up all your savings.

Pull Your Business Back Up

Alienware started with only $10,000, but limited funds didn’t stop the company from growing into a $3 billion company. Using these three cost-effective methods can grow your business without burning through your cash reserves.

Your website is one way you can get customers in the door. By creating an attractive, easy-to-use site, you draw in clients who are interested in your work. Personally communicating with customers over social media can create a sense of community for your clients, drawing in interested people. Finally, contributing your knowledge to important conversations makes you an authority in your industry. It shows potential customers that you know what you’re talking about.

Alienware used simple, low-cost strategies to grow. Which of these three methods are you going to try on your business?