3 Growth strategies small businesses can learn from Google

by | Jul 10, 2021 | Business | 0 comments

Small Businesses are fundamentally run by small-scale entrepreneurs with limited capital and financial resources and a small group of core and efficient laborers. The success of a small business organization is dependent on the growth and expansion strategies adopted by the entrepreneur, the plans and policies implemented towards the development of the organization into a multinational and corporate entity through which the entrepreneur can derive large scale profit. All small business owners possess the dream of transforming their business into a large multinational conglomerate by combining their existing pool of resources. However, only a few scarcely funded companies become capable of completing the transformation sources. One such company that has completed the transition and emerged as a business giant is Alphabet-owned Google. It has so much success through its influential corporate and business strategies and policy implementation techniques that Google has now become a word in the dictionary. For small businesses to grow rapidly and make a name for themselves in the corporate world, they need to follow the following business strategies adopted by Google-

How to Use Google My Business to Get More Customers

Business strategies by google for small businesses to follow

Google through its professional framework and skilled labor force has brought about a few business strategies that can be cited as an example for small business firms. Following are some of them-

Differentiate from Other market players

The first business strategy talks about differentiating your products and services from other market players. Small Businesses should focus on differentiating their products, by adding aesthetic appeal and a unique feature, a service that is not provided when a consumer purchases the product from any other company. Google can be cited as an example in this regard. There are many other search engines in the world like Yahoo and Ask constantly competing with Google for market share. However, the fact that Google offers the best, accurate and most optimized result is the reason why people prefer their default search engines to be based on Google. Moreover, Google has taken up a business strategy to provide the best quality of search algorithms accompanied by voice assistant recognition. This resolves the problem of understanding the demand of the person making the search operation and provides him with an array of options to choose from. It is only through providing premium quality search background that Google has made a name for itself in the market and has thereby become the biggest and most popular search engine operator in the world. 

Also read: Planning to start an online store? Here is a checklist for you

The Small Business Guide to Google My Business - Swamped Media

Expansion into unexplored territory

Putting all your eggs in a single basket is a harmful business idea. This means that being one-dimensional during a business operation is considered to be a risky venture since if one business fails then the process of revenue generation will dry up consequently leading to the ultimate liquidation of the business. For this reason, diversifying the small business portfolio is a very important consideration for looking after the growth and expansion of the business model. The parent company of Google has many other surprisingly famous business ventures in the form of YouTube, the GPS app Waze, the exercising wearable textile brand Fitbit and more. This business strategy helps in keeping the business afloat and never stagnates the income generation process. Even if the revenue or profit generated from one business venture flounders, the other business arm helps in supplementing the income lost and therefore helps the business maintain a position of equality among the other large market players. This business strategy is fundamental in ensuring the growth of the business. 

Excel at your market niche

Google as one of the most premium companies in the world understands the value of diversification and expansion into different market ventures. However, it operates on one formula- to strengthen its existing customer base by catering to their needs and providing them with optimized search solutions whenever called upon to do so. This is one business strategy that is critical for small businesses to understand. Although diversification of the product and service range is necessary, keeping a track record of the existing consumer base is important. Once a customer identifies with your product or service, he/she forms an unbreakable bonding with your company. Therefore the main objective of small businesses should be to retain their niche customer base. 

Summary

Therefore Google is one of the foremost examples of how small business ventures can evolve their strategies, corporate their ideas and bring about change in their functioning which in hindsight would help them develop. Small Businesses thus look to emulate how Google has incentivized its business approach. 

Frequently asked questions (FAQs)

How do small businesses function?

Small Businesses are fundamentally run by small-scale entrepreneurs with limited capital and financial resources and a small group of core and efficient laborers. The success of a small business organization is dependent on the growth and expansion strategies adopted by the entrepreneur, the plans and policies implemented towards the development of the organization into a multinational and corporate entity through which the entrepreneur can derive large scale profit.

What has separated Google from all other small businesses turned large MNC?

All small business owners possess the dream of transforming their business into a large multinational conglomerate by combining their existing pool of resources. However, only a few scarcely funded companies become capable of completing the transformation sources. One such company that has completed the transition and emerged as a business giant is Alphabet-owned Google. It has so much success through its influential corporate and business strategies and policy implementation techniques that Google has now become a word in the dictionary.

How do small businesses differentiate their products from other market players?

The first business strategy talks about differentiating your products and services from other market players. Small Businesses should focus on differentiating their products, by adding aesthetic appeal and a unique feature, a service that is not provided when a consumer purchases the product from any other company. Google can be cited as an example in this regard.

What separates Google from its market competitors?

There are many other search engines in the world like Yahoo and ask constantly competing with Google for market share. However, the fact that Google offers the best, accurate and most optimized result is the reason why people prefer their default search engines to be based on Google. Moreover, Google has taken up a business strategy to provide the best quality of search algorithms accompanied by voice assistant recognition. This resolves the problem of understanding the demand of the person making the search operation and provides him with an array of options to choose from. It is only through providing premium quality search background that Google has made a name for itself in the market and has thereby become the biggest and most popular search engine operator in the world. 

How can small businesses retain their market niche?

This is one business strategy that is critical for small businesses to understand. Although diversification of the product and service range is necessary, keeping a track record of the existing consumer base is important. Once a customer identifies with your product or service, he/she forms an unbreakable bonding with your company. Therefore the main objective of small businesses should be to retain their niche customer base. 

If you are looking for the right solutions for your small or medium business, we are willing to provide a good mentorship with an appropriate process to lift business click here

Also read: Dropshipping business – Everything you need to know

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