Question

The three ways that an entrepreneur can grow his or her business organically

Answer 1

Starting up business by any entrepreneurs can be difficult and time-consuming but even his business is up and running. Entrepreneurs need to make sure business has the ability to grow. Organic growth is a lot less risky and can still allow his business to attract new customer and develop a new product.

The following ways that an entrepreneur can grow his business organically.

1. Leverage social media- Social media platforms bring thousands of different marketing channels. Social media is an affordable platform that can be used to provide customer service, promotions and maintain engagement. To achieve success, it requires planning for this purpose entrepreneur requires identifying which social media platforms is using by his target audience. Then he will work towards building his business presence on that site.
2. Being more innovative than the competition- New innovation ideas available to improve business process. Entrepreneur required focusing on innovation rather than competition, bringing new and improved products and services in the market creates competition automatically. It also increases efficiency and improves profitability.
3. Make a reinvestment – Reinvesting the profits from business can be a sensible way to grow business organically. This is because reinvestment is able to reduce the need for any external investors need to provide financial backing and it also giving entrepreneur more funds to develop a key area of business. He can reinvest in additional marketing, staff training and develop the product line.