Is Your Business Development Stunted? Do these 4 things!
Many entrepreneurs complain that their business is not growing as fast as they expected. They may have an excellent product, good customer service, and have a large customer base – however, their business growth has stalled.
What to do if business growth is stunted? You may be thinking of pursuing more aggressive marketing or seeking additional capital and investing in your business. However, before you do both, find out 4 things that often hinder business development and how to deal with them.
1. A Flawed or Outdated Business Plan
When starting a business, of course, you already have a business plan. However, you will also realize that not everything can go as planned.
Meanwhile, the business plan may be flawed and out of date. You can no longer rely on the plan, it becomes increasingly difficult for you to make decisions and adapt quickly.
What to Do: It may be time to look back over your business plan as a whole, and see if it is still relevant for now. Remember, it takes you years to build a business, and many things change over time, be it the economy, your customers, your products or services, your targets, and many more. So, evaluate your business plan, then adjust it as needed.
2. Poor Pricing Strategy
Competing to sell the lowest priced product is only effective if you are the only person selling the lowest price among competitors for a similar product, and this will likely be difficult to achieve.
Your potential customers only need to visit Google to find an alternative product at a lower price in seconds. Lowering prices to generate sales is a bad strategy, because once a competitor offers a lower price, your customers will naturally choose the competitor’s product.
What to Do: Instead of lowering your prices, it is better if you add value to your product. This will make your business more profitable and allow you to find better, more loyal customers. Also, read how to do a pricing strategy.
3. Has no distinctive characteristics
Your business looks the same as all of your competitors, doesn’t stand out. This usually happens because you are just imitating them. As a result, there is nothing to differentiate your business from competitors.
What to Do: Do something extraordinary to make you stand out even more. Something extraordinary and very valuable. For example, offering a new service that your competitors don’t provide, holding a meet and greet, holding a webinar, or anything else that can differentiate your business. Be bold in acting and thinking outside the box. Creativity and courage are key.
4. Investing in Too Expensive Technology
You may often get offers for software – which you don’t need – every day. They may offer very comprehensive features, but what are you paying for features you won’t use?
What to Do: Look for free or low-cost software alternatives. Also, make sure the software provides upgrade features so that you add more features at a reasonable price.
Thus the discussion regarding 4 things that need to be done so that your business development is not hampered. For your business to grow, don’t forget to advertise through the Froggy Ads service, you can start by advertising your products so that later you can increase visitors on your online business portal. Froggy Ads is an online advertising service that can help you control all your product campaigns. helps you target your desired marketing target and gives you many options to market your product.