Your new business is up and running and you want to find success (that’s the goal). Success in business means growth, something all organizations are in constant search of. Whether it’s growing customers, growing products, growing revenues, or growing everything. However, what exactly is growth, how can you get it organically, and how to you push for it?
So, you have your excellent new small business up and running. It specializes in pointing out the best casino online, including games like online slots, roulette, and poker. One problem you have is no-one knows about your business, what service you offer, and what you can provide. You need to reach out to customers… you need growth.
There are two types of growth in the business world, organic and inorganic. Both take a different approach, with one (inorganic) relying on what resources you have available and the other (organic) on your own skills, building reputation, and the service or product you offer.
While both types can be useful to a small business owner, organic growth is something all businesses strive for. It is the “Holy Grail” of digital marketing and can bring a massive impact to a business over the long term. However, organic growth comes with numerous challenges and success may seem impossible.
However, implementing some real-world changes makes organic growth less of a daunting prospect.
Do You Want Growth the Real Way?
As mentioned, organic growth is something all businesses want. That is not to say inorganic growth is inherently bad, it just comes with some caveats. Perhaps it’s best to look at these two types of growth metrics more in-depth:
Inorganic Growth: This is the type of growth where your money talks. If you have your casino website in the example above but it is not growing, you could use money to buy a more successful casino website and merge it with yours. You will now have two business together, the larger successful website and your less successful one. In this scenario, you would have grown your business in size, but this would be an inorganic growth.
Organic Growth: As you may have guessed, organic growth takes an opposite approach. It comes through engaging with potential clients and converting them into customers. It also comes from generating more customers from existing clients. You need to use skills in marketing, relationships with partners and customers, and good old business knowledge to make organic growth a success. Let’s be clear, organic growth is not the quick way to success, but it is the optimum way to boost your business.
By focusing on a niche, targeting specific consumers, upping your digital marketing game, and becoming a respected voice in your niche are all important drivers of organic growth. While being a slower path to success, there are less risks when you aim for organic growth.
There are no guarantees whether you take an organic or inorganic approach, but if organic growth strategies fail you may have sunk a lot money into mergers and acquisitions with no growth to show for it.
rahul