If you run your own business, you know that it can be tough to plan your next move. There’s an endless stream of growth tactics, tips, and strategies available online. Trying one out often feels like throwing spaghetti at the wall to see what sticks.
Fine. But what does it take to truly stand out in a crowded marketplace? And what strategies will give you the edge over your competition?
On my two podcasts, Marketing Speak and Get Yourself Optimized, I’ve interviewed dozens of truly exceptional people. These inspiring conversations have been a catalyst for me to implement some unique, out-of-the-box ideas that I’ve resolved to implement in 2019.
Here are a few of my favorite strategies that will help you grow your business this year and beyond.
1. Advertise on YouTube
YouTube is so much more than a place to watch viral videos. In fact, it’s the second most popular search engine after Google. If you’re advertising online but not on YouTube, you are missing out on huge opportunities for growth.
During my chat with YouTube advertising legend Tom Breeze I learned all about taking advantage of this powerful medium. Beginners should start by researching “custom intent” from Google Ads Platform to gain a basic knowledge on building an audience and successful advertising stream.
One tip? Start small and scale from there. Begin with a $5 a day budget for your campaigns. This will help you evaluate your ad performance and ensure that your ads are profitable before you scale.
2. Reduce Your Tax
Nothing is certain but death and taxes. However, you can at least make your taxes less painful by reducing your liability.
I sat down with finance guru Mike Packman to discuss some out-of-the-box tax strategies for business owners.
One option is to start a captive insurance company.* This way you can self-insure risk associated with your business. Instead of continuing to pay insurance premiums, you can insure your risks to get significant tax deductions against your income. By reducing your tax liability, you can reinvest your hard earned money back into your business.
3. Make Podcast Appearances
Podcasts have been a blessing for my business. Not just as a host, but as a guest as well. Becoming a guest on other podcasts helps you gain exposure, establish yourself as an expert, and make valuable connections.
If you’re looking to get into the podcast game, start by creating a well-designed one-sheet that you can distribute to podcasters in your niche. This one-page PDF should include your bio, contact information, website links and three to five interview topics in bullet points.
Each interview is an opportunity to create a lasting relationship with other hosts. Use your time before and after the interview to invest in relationship building. You should also conclude your interview with a high-impact statement that lets the audience know how you can help them and how to reach you. For more tips, check out my interview with podcast guest booking expert Jessica Rhodes.
4. Provide a Free Offer
It might seem counterintuitive to give something away for free. But providing a hand-raising free offer is a great way to get potential buyers’ feet in the door. This free offer can also showcase your expertise by providing something valuable.
I’ve used dozens of these lead magnets over the years, from free downloadable SEO checklists to webinars. These types of offers are effective for educating people on the issue, giving them a tasteof what they could achieve, and getting them interested in your services. For a deep dive on this topic, check out my Marketing Speak episode with Dov Gordon.
5. Explain Who You Do (And Don’t) Work With
Are you looking to use your website to stand out from the crowd? Everyone has an “About” page or a “What we do” page. But what about a page that shows who will not benefit from your services?
List the types of people you don’t really work with and why they aren’t a good fit. This transparency can be a breath of fresh air for potential customers. It will not only help you attract the right people to your business, but it will also build trust with your prospects. Check out my interview with Marcus Sheridan for more advice on this topic.
*This statement references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.