Running a business in a bustling city like Los Angeles offers a wealth of opportunities, and learning to harness those opportunities and expand on them will only help your business grow. Here, members of the Forbes Los Angeles Business Council share some of the growth hacks and strategies they’ve discovered as a business leader in the city. Their stories may inspire you to implement these tactics in your own entrepreneurial journey.
1. Rely On Your Network
It's an age-old "hack," however, when you're in a service-based business, often it's simply about reminding people what you do and that you're there. This includes clients, friends and colleagues. When they’re asked for a referral to a business like yours, you want to be the first one they think of. - Kelly Howard, EightSixtySouth
2. Use Bartered Awareness Tactics
The ability to get value through bartering was the number one tactic my company used to boost sales and gain followers. It's all about the delta between what you should pay and what you actually pay for awareness. A key strategy is evaluating assets or services you can offer where it costs you cents on the dollar and bartering it to someone who can provide value to you. - Mark Mastrandrea, IKONICK
3. Institute Remote Work Policies
Instead of requiring everyone to come to an office daily, our team works remotely and meets twice weekly. This hack allows us to attract top talent in a city where office location is enough to dissuade someone from joining your team. It also eliminates the hours wasted in a weekly commute. I’ve led in-office and remote teams and this format results in happy employees and max productivity. - Joe Gardner, VentureDevs
5. Ask For Referrals From Passive Candidates
When a candidate is not a good fit for the role or is not interested in leaving their company, I always ask them to refer anyone they think would be an amazing candidate. I believe that building the relationship and making it clear that the line of communication is open goes a long way. This person may be a better fit down the line or they may refer an amazing coworker whom they trust. - Brendan Rogers, Wag Labs Inc.
6. Live Where You Work
LA traffic isn't necessarily new, but if you can afford to move right by where you work, it can be a life-changing "hack." Not only do you save time, but also your energy and money. You're less stressed and more productive in general. - Anna Nguyenova
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