Growth as an opportunity and a permanent challenge

You’ve survived the first few months (or even years), and now you want to expand? Staff development and your staff policy are, of course, very decisive factors for the growth of your business. Don't skimp on good staff. Invest in the satisfaction and competence of your employees. Your company has to run smoothly even when you're not there yourself. Also, pay attention to changing framework conditions. In the same way that markets and customer needs change in dynamic competition, you also have to adapt your business model. Perhaps there is further market potential and possibilities that you did not have in mind in the start-up phase. You may be able to use more efficient distribution channels. What other market trends could you pick up on? How sustainable are you already?

The Corona period has taught us how important it is to respond to times of crisis or other developments and bottlenecks. Many companies have switched their offer to online formats. Restaurants have developed a catering service. Many people closed their old businesses and created entirely new products. Responding flexibly to new situations is, of course, part of your professional profile as a self-employed individual. It is important to exchange ideas with other businesspeople or to seek professional management advice. Some funded projects offer workshops, advice or coaching on reorientating self-employment. And it's worth it to look for workshops at business development agencies or chambers.

Even if you don't have any specific questions or don’t need help, you should occasionally seek a conversation with your business development agency or the relevant chamber. Imagine yourself as an expanding self-employed person. Questions that didn’t come up before often arise during such a conversation. Look for suitable events. You can also find valuable tips and contacts in networks, committees, associations and other communities that want to strengthen their own independence with the help of the community. Search specifically for such groups and offers.

When entering the market, many self-employed people set low prices for their products or services to assert themselves against the competition. Low prices are not always the best way to attract many customers. Do you have a quality product or service? Then the prices should reflect that and not be too low. Finally, when prices are low, you have to work more to get the income you need or want. Over time, you will also develop a better sense of your markets: what prices are appropriate? What factors do I use to convince my customers? If the quality is right and you have built up a customer base, you don't have to argue with low prices. You can read up on how to systematically review your pricing policy on the Entrepreneur platform. The Entrepreneur workshop Germany shows you how to calculate your prices.