Market Research

Before launching your business, you will have prepared a business plan and done your market research.

Is your product or service viable?

Is there a need for what you offer?

You will have also done a competitor analysis to see who offered something similar and in
what context and price range. This initial work is vital to help you understand your target
audience and predict where you will fit in your niche.

You may not have reviewed that market research if you have been running your business for
many years. Taking time to review and reflect is a powerful tool for business growth.

Times change and your business evolves, as do your clients. What they wanted and needed
three years ago might have changed substantially. Have you reviewed this? Have you noticed any shifts in buying patterns?

It’s worth spending an hour each quarter to review your market research and stay on top of
any industry changes, evolving customer needs, or competitor shifts.

Create a sales funnel

The journey you take your customer on makes a difference to your impact on them. When
building lasting relationships with your audience, you must ensure you make working with
them as easy as possible.

Do you have a clear layout of your range of products or services?

Can potential clients learn more about you and your business before parting with their hard-
earned cash?

Thanks to your market research, you will know your client’s budget and how to match that
with your services.

A sales funnel works like a ladder. Your potential client starts on the bottom rung (a free
download) and then begins to climb as you provide value, and they begin to like and trust
you.

The next point in the sales funnel might be an eBook for £10, followed by a Power Hour for
£70. You may offer self-learning courses or workshops for £150 before reaching your high-
ticket offer of 1:1 coaching at £500.

A new client rarely jumps straight in at your 1:1 coaching without getting to know you first.
Building relationships helps your business grow. You get to know your audience throughout
their customer journey and can provide what they need.

Network

To build your business, you must be visible. While that can sound scary, especially if you aren’t confident using social media, there are other ways to boost your brand.

Attending networking events is a fabulous way to meet like-minded business owners as well
as potential clients. Choosing a network where you feel safe and supported reaps far more
benefits than possible sales.

In the Socially Shared Women’s Business Support Network, the members have made life-
long friendships, supported one another through the highs and lows of running a business,
and nurtured their professional development.

To find out more about becoming a member click HERE.

Identify opportunities

Your business will only grow if you continue offering products or services your target
audience wants and needs.

Where can you diversify your offerings? What can you provide that will help you stand out
from the crowd?

Are there any opportunities for collaboration that will add extra value to your audience and
help you and your collaborator to grow together?

Seek out those opportunities for growth and think outside the box. Can you offer a collection
or bundle of products? Can you turn a face-to-face workshop into an online course?

Self-care

‘You can’t fix others if you are broken.’

How can you expect to grow your business when you are burnt out? It’s hard enough to deal
with a lack of confidence, self-doubt, or procrastination, but when you add ill health into the
mix, it becomes impossible.

Looking after your mental and physical health needs to be a priority. This is something we, as
a women-only network, have recognised and supported for years.

Many of our members struggle with menopause which impacts their business lives
tremendously, and others battle anxiety and depression. Access to a community of like-
minded ladies can make all the difference to their business growth.

“Everyone wants to live on top of the mountain, but all the happiness and growth occurs
while you’re climbing it.” – Andy Rooney.

Learn more about business growth with Socially Shared

Join our networking group in Hall Green on Monday 24th April between 10am – 12pm and hear from our expert speaker and area host, Nichola Hemming from Soul Angels.

If you’re a woman in business who sets goals for the year but may sometimes feel like you
are battling against the tide either energetically or emotionally and things don’t always work
out how you’d hoped, you might want to look at new ways to plan your future.

Nichola will show ways that connect you to the natural energies of the earth, nature and
seasons that will allow you to flourish in a more natural, rhythmic flow so that you stay
grounded, connected and engaged, making your dreams and goals for the future far more
attainable, enjoyable and less stressful.

During this workshop, you will be given a plan to set goals during each season, tools to keep
grounded and focused when things don’t go your way and how to plant seeds of growth for
your future.

Buy your ticket for the Hall Green Socially Shared Event HERE.

Are you interested in joining the Socially Shared Women’s Business Support Network? Our
affordable annual membership is £99 and includes many benefits to help your business thrive.
Find out more via our website.

“Amazing community for women in business. Supportive, helpful and full of resources, knowledge and insights to help you grow. Joining the community and attending the events was a game changer for me after relocating the the UK. Would definitely recommend!” Rachael Watt, Enterprise Account Executive.