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SMB

6 Tips to Scale Up Your Success as an SME / SMB

by Mentor Group / May 13, 2022

Small and medium enterprises (SMEs) are the backbone of the global economy. They make up 99% of all businesses and nearly 75% of all jobs. This strength is also their weakness. With so many SMEs competing for visibility, it’s harder than ever to stand out from the crowd and scale up business growth. You need to find ways that work for you as an SME, not just for larger corporations with different needs. But how? Here are 6 tips to help you scale up your success as an SME.

  1. Don’t be afraid to try new things
  2. Get the most out of your employees
  3. Invest in digital marketing and advertising
  4. Diversify your business
  5. Don’t neglect workplace culture
  6. Use SME-friendly tools and software

 Let's look at each one in a little more detail.

 

Don’t be afraid to try new things

An SME is often a family business, meaning you have special considerations to think about. It can make sense to stick to what has worked in the past for the sake of stability. But if you want to grow, you have to try new things. It might be time to:

  • Hire a professional marketing team to help you scale up your digital marketing campaigns.
  • Outsource some of the more complicated aspects of your business to free up your own employees for the tasks that only they can perform.
  • Find a supplier who will provide specialised services for your industry.

 

Get the most out of your employees

The best way to scale up your success as an SME is to find a way to get more out of the people who work for you. You know your business best. You know your employees best. You know your community best. You can use that insider knowledge to:

  • Find ways to make your products better through product development and quality assurance.
  • Make your products more valuable through research and development.
  • Make your business more efficient and profitable through the better use of technology.

 

Invest in digital marketing and advertising

There are a lot of ways to scale up your success as an SME. But one of the easiest is to invest in digital marketing and advertising. The best part is that as an SME, you have more options when it comes to marketing. You can:

  • Find ways to get your products in front of the right people with the help of a paid advertising campaign.
  • Get free publicity with some creativity and planning.
  • Target your marketing to people who are most likely to buy your products with digital and social media marketing.

 

Diversify your business

You may be able to scale up your success as an SME by diversifying your business. You may have products or services that complement each other. You may have products or services that can be used by the same customers. Whatever the case, you can use the extra revenue that these bring in to:

  • Invest in the growth and development of your business.
  • Find ways to advertise and market your business more effectively.

 

Don’t neglect workplace culture

When you start to scale up your success as an SME, you also need to scale up your workplace culture. The best way to do this is to create and maintain a set of workplace standards and expectations. For example, if you are a contractor, you might want to set hours for your employees. Or if you run an online store, you might want to encourage open communication between your employees. These standards will help you become a more organised and productive SME. They will also help you:

  • Create an attractive workplace culture and image for potential new hires who may join your team.
  • Attract better employees and reduce turnover.
  • Protect your business by providing a safe environment for your employees to work in.

 

Use SME-friendly tools and software

There are a lot of tools and software that can help you scale up your success as an SME. Having a CRM to keep track of customer relationships, an invoicing tool to simplify payments, and a project management software to make your team more efficient are just a few examples. You can also look into:

  • A payroll solution to simplify your payroll and HR processes.
  • An accounting software to make your bookkeeping more efficient.

 

How can Mentor Group help SMBs with Sales Enablement?

At Mentor Group, we don't believe in a one-size-fits-all approach to anything, and especially not when it comes to sales enablement. We know that running a small or medium sized business poses a unique set of challenges, and unique challenges require unique solutions.

That's why we developed Sales Academy - our sales enablement solution designed specifically for SMBs. For less than £1 per user per day, your people get on-demand training videos, designed by industry experts, to help them learn how to become elite sellers from the comfort of their own desk. 

Available on any device, and without any need to download an app, you can provide your people with the skills, tools, and mentality they need to sell more often, for more money, faster than ever before. 

Check out Sales Academy, and how it can transform the revenue potential of your business, now.

 Learn More Today

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Mentor Group

Mentor Group

Mentor Group are a data-led sales transformation company, dedicated to helping organisations sell more often, for more money, faster than ever before.