Local Business
Local business is defined as creating a small space in the form of a shop, company or house for employment and earning income within the city and province of residence. One of the problems that local businesses encounter to is the problem of being unknown. In a local environment in the city and on the streets, we are faced with many different businesses.
When a new and small business starts operating in such an environment, at first only friends and acquaintances will know about it. Therefore, such businesses have not faced high returns for a long time and remain unknown. Over time and with the improvement of the quality of products and services as well as with advertising, our traditional business will prosper and become a well-known business. In the following, we will mention some factors of the development of a traditional business.
Local Business Development
Business development is vital and decisive for all business owners and especially for traditional businesses. When it comes to business development, the most important issue in this regard is increasing income. For this purpose, we can act in 3 ways:
1. Diversity in the Production and Provision of Products and Services
Perhaps it can be said that the easiest way that can increase our income is creativity and diversity in offering products and services. But this does not mean that we have to produce newer services. We can offer more services and products by finding a business partner, even with a lower percentage of the company’s share. With this increase in sales, we will earn a higher profit.
2. Attracting More Customers
This case is one of the cases that has received the attention and focus of some companies. In other words, most companies seek to attract more new customers and increase their influence in the market. For this purpose, we can use 3 steps:
First Step: Advertising by Current Customers
Attracting new customers through the definition and recommendation of old customers helps us to save more financial resources. Because in this way, we will not need to spend huge amounts of money for advertising.
Second Step: Active Presence in Online Directories
Due to the extensive growth of the Internet space, today the first portal that buyers refer to is online directories. Most people don’t care about brand names. What is searchable for them is the type of activity. Based on this, we can introduce our business to people who are looking for services in line with our activity by fully explaining the information related to our business.
Third Step: Active Presence in the Online Space and Virtual Platforms
The impact of the effective presence of business in cyber space is not hidden to anyone. Businesses that have established their position in the virtual space will face a wider range of customers. This will help to make the business more known and increase their sales. The use of social networks such as Instagram, Telegram, etc. paves the way for more interactions with customers and introduction of products to them.
3. Increase in Selling Price
Low pricing on products and services lowers the value of what we offer. If we turn away from the true value of our products, we have trivialized them. There are several reasons for this mistake on the part of entrepreneurs; Some don’t have enough confidence to charge high prices for their products. Some are not sure about the market capacity to provide their products. Some do not know the real value of their products.
Up To Sum
Traditional businesses grow at a slower rate due to the limited space they have to offer. There are ways to develop these businesses, such as attracting more customers by offering new products, increasing prices, and so on. What is important in this regard is that we should not ignore the impact of virtual space and active presence in online directories.
