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BFS Capital Blog

Small Business Growth Management: February 2014 Recap

February 28, 2014

The economy is on the mend, and small businesses for the first time in a long time are feeling confident and slowly but surely are looking to grow.

This month, we covered a variety of topics relevant for SMBs looking to expand, from growing and managing your team, to tactics to employ to drum up more business, to recognizing and preparing that it is time to grow.

In case you missed it, here’s some of our top blogs from February:

Business Growth


    • Growing a business requires capital, plain and simple. Regardless of whether you think that you are going to need funding in 2014 or in a few years from now, it’s important to be prepared. Read about the questions that you should be asking when looking for business financing in this post.


    • Taking that leap of faith to expand your business can be intimidating. There are many risks involved, but hesitating to grow can be just as risk. Check out the seven signs that are telling you that it’s the right time to grow or expand your small business in this post.


Employee Management


    • There’s a fine line between leading your team and just telling them what to do. It takes a special kind of person to be able to elicit great ideas and top performance from a group of people. Or does it? Read our tips on how to lead and inspire your staff in this post.


    • When your business is small, finding jack-of-all-trade-type employees whose day-to-day responsibilities often change at the drop of hat is pretty common (or at least ideal). But as your business starts to grow, your processes and structure need to adapt. Simply said, how you organize your business is a big deal. For tips on how to structure your business and clarify employee roles as you grow, check out this post.


    • Let’s be honest, it’s virtually impossible to be working to your absolute fullest potential 100 percent of the time while on the clock. And while it may be unrealistic to expect that of your employees, there are ways to boost productivity in the workplace. We explored some unexpected, even counterintuitive ways that you could increase the focus and effectiveness of your staff in this post.


Growth Tactics


    • Oh, Valentine’s Day. The day of love. Regardless of your own personal feelings about the holiday, the fact remains that people, whether they are your significant other or your customers, like to feel like they are appreciated. So, why just show them how you feel on one day out of the year? Keep the love alive and show your customers you appreciate them all year round with the ideas in this post.


    • Competitor research is perhaps one of the most under-utilized small business strategies. There’s a ton of information that you can and should be learning from your competitors, and implementing this type of strategy doesn’t have to be difficult. Not to mention, it’s relatively inexpensive. Read our tips on getting to know your competitors in this post.


    • We’ve all seen “Limited Time Offers,” enticing us to take action before we miss out on the product and service forever! Okay, maybe forever is a little dramatic, but that’s the type of emotion that marketers are trying to evoke to get consumers to buy. This strategy is called artificial scarcity. Does artificial scarcity have its place in small business? That depends. Read our thoughts on the practice in this post.