The internet has made it possible for businesses of all sizes to get off the ground from the home; according to industry mag Small Business, 50% of all businesses are now home-based.
In tight conditions like Harlem’s, this option is invaluable. Where such businesses often stumble is through growth, and there’s plenty going around in Harlem right now; diversity-focused firm Harlem Capital just finished $40m of funding projects. Allowing your business to grow is crucial to its success, and doing so successfully is dependent on proper planning.
Infrastructure and customer service
Expansion of your business will undoubtedly lead to more customers. Being able to deal with this extra demand is absolutely crucial, and not just in terms of throughput, but with regards to customer service, too. According to statistics reported in Forbes, 70% of consumers will spend more simply to secure a better service with their purchase. In a fiercely competitive market like Harlem’s and the wider NYC area, this is only going to be amplified. The internet provides an easy way to provide this service, but expanding businesses should keep one eye on their infrastructure as they do. Solutions like cloud-hosted phone systems and robot advisers can give your business a consistent service to deal with the new customer influx. Investing in a cloud-based service gives you and your clientele the requisite stability to be able to grow.
Spreading Harlem’s wings
As the business grows, the space it occupies does too. Classic Harlem businesses have been focused on 125th street, yet, according to BisNow magazine, there are huge expansions along 130th and 143rd. What does this mean for a small business? Essentially, you should look to move out of your comfort zone and take advantage of new infrastructure and developments in those local areas. Don’t stick to just your patch of Harlem – look for new opportunities everywhere you go, whether in new premises or from your home-based business.
Keep it visible
With thousands of businesses vying for their piece of the market and rampant growth, it’s going to be tough to keep on top of your business’ personal message. It’s accrual that you do so, however, given how important the brand is – Entrepreneur magazine even suggests it’s more important than ever before. Even for a small, home-run business, the power of your business facade and design can’t be underestimated. Keep a strong and consistent design strategy as you grow, and you’ll soon become recognizable in the area.
Growth is the key to any successful business, even home-based ones. Finding that path towards success is made business-positive areas like Harlem, but there can be a risk of being swept under the tide of growing the small enterprise. Don’t be left behind.