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How to grow your small business for (almost) no money

Donovan Reed, EVP – Chief Lending Officer

So you finally did it—you started a business. Now you’re an entrepreneur, and with your next goal is growth. You spent a lot of money starting your business, so let us show you how to make it grow without spending a whole lot more.

One of the biggest contributors to a successful business is word-of-mouth, advertising, and the easiest, least expensive way to get the word out using social media. Create new and original content that resonates with your client base. You will need to know your current customers well to know the kind of content they would appreciate, so have current customers fill out a survey. SurveyMonkey is a free resource anyone can use—just get an email list and you are on your way to completing market research. Check it out here. The better you know your current clientele, the better the odds of retaining them.

Another word-of-mouth strategy is joining your local chamber of commerce. Your membership will help you establish relationships with influencers in your community and gain access to lots of contacts.

Finally, if you don’t have a website, MAKE ONE! Bill Gates once said, “There will be only two kinds of businesses: those with an Internet presence, and those with no business at all.” With programs like Wix and WordPress, making a website has never been easier. If you already have a website, do some search engine optimization (SEO) to make it easier for people to find you online. An SEO plugin can be installed on most sites, if not already part of the template tools, and from there all you have to do is follow the advice of the plugin.

For more low-cost ways to grow your business, visit this Forbes article

Keep in mind, if you do need a little more money to grow your business, Oklahoma State Bank can provide small business loans (including SBA loans), accounts receivable financing and other options that are structured to meet your needs. Visit osbbank.com/business-loans for more information or email Donovan Reed.

*Sources: Forbes.com, wheniwork.com 

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