Small business is proving to be big business post the pandemic. In developing countries like India, small businesses have been embracing digitalization to a large extent and are catering to their customer needs through varied online channels.
According to GoDaddy’s Entrepreneur Survey, the year 2023 looks even more promising for the growth of Micro, Small and Medium Enterprises (MSMEs) in India with around 75 per cent of small-scale entrepreneurs strongly confident to witness revenue growth. Additionally, 71 per cent of entrepreneurs surveyed believe that expanding digital know-how and implementing digital solutions is very important to provide the needed boost to their business thereby expanding the reach and generating revenue.
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With new technologies such as artificial intelligence, machine learning, and the launch of 5G picking up at an unprecedented pace, there is no time like the present to consider ways to help make your small business grow by taking advantage of the online world.
Below are five tips GoDaddy is sharing to help make your small business grow with an online presence:
It all starts with a domain name
As a business idea is getting started, it is helpful to check the availability of domain names for the business. A domain name can be considered a business’ piece of real estate on the internet. It is a way for a customer to easily find a business online. is getting a domain name registered right away.
Choosing and registering a domain name for your business that’s memorable is increasingly important in an expanding digital marketplace, as it helps to shape your online business identity. When it comes to getting a domain name nowadays, if the .com extension is not available, there are many new extensions available, such as:
- .shop
- .tv
- .co.in
- .tech, to name a few to consider, along — with more continually being added.
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While it’s not necessary to buy your domain name in all extensions, you may want to consider the common group (.com, .org, .in, .net, etc.) when you’re registering your primary domain name.
Build a website
Websites help create visibility for small businesses. Customers, both existing and new, can be looking for your business online. Having a website acts as a home base for your business on the internet, even if you have a brick-and-mortar storefront. It allows customers to easily find you online, learn about your product offerings and services, and contact you for more information.
A well-designed website can help create an engaging customer experience. Customers can easily make purchases through your online store. By having your own store, a business can process orders, offer a variety of payment and shipping methods and control product inventory.
Review your business plan
Many entrepreneurs make a business plan at the beginning of their business journey but very few revisit it from time to time. So analysing aspects of that business plan like target audience and competitors, examining cash flows and what can make the business profitable, while also checking timelines to reach business goals is equally essential to help ensure the continued growth of your business.
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Develop a business support system
As an entrepreneur, there will be moments when you will need guidance and support. And it is not necessary to solve all your queries on your own. By developing a strong business support system, for example, you could benefit from new ideas on ways to address a particular issue or ideas for growth. Aside from close family and friends, some of the people you may wish to add to this system include mentors and business coaches who can provide relevant insights into your business.
Listen to your customers
The growth of your business is directly related to customer satisfaction. Therefore, listen to your customers and pay attention to the needs of your target market. Identify their problems and pain points. How can your offerings act as a solution? Is it possible to develop new products to help solve these problems?
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Study and plan how you will best be able to serve customers in a calm and in challenging times alike. Reach out for customer feedback on a year-round basis and keep a sharp eye on customer behaviour changes and audience interests.
This article was originally written by Apurva Palnitkar who is the Senior Marketing Director for GoDaddy India, a company that helps Indian entrepreneurs to thrive. All the thoughts mentioned in the article are person, and India TV takes no responsibility for the same.
