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You may have been successfully running your business for quite some time without any major hiccups or complications. However, as is the case with most new businesses, you will eventually reach a plateau or stopping point where you are no longer able to generate very much growth.

In order to break down that wall and continue growing your business, you need to find an efficient way to increase revenue and sales opportunities. Using a mobile device, such as your smartphone, as an effective business tool can help you to do just that.


Manage Time Wisely with Productive Applications

Chances are that you are already using some sort of mobile application on a daily basis with your smartphone or tablet for personal purposes. One report shows that over 102 million mobile applications have been downloaded around the world. That figure is projected to rise to well over 268 million by 2017, according to Statista. Whether you are using an Apple or Android device, there are literally hundreds of thousands of applications that are easily accessible through your smartphone or tablet.

You can actually use this accessibility to your advantage when it comes to breaking through that stopping point. There is an abundance of applications specifically designed for time management and productivity purposes that can save you a considerable amount of time each day when it comes to time-consuming tasks, such as file management and administrative work. By taking the time to explore those options, you may find that you have more time to work on more profitable aspects of your business and less time with those tedious and time-consuming obligations.

Expand Your Hours with Mobile Sales

One of the best ways to use your smartphone to break through the plateau is to embrace the world of mobile sales. Perhaps you have a traditional, brick-and-mortar storefront that requires customers to come to you during your hours of operation. On the other hand, you might run an eCommerce business from the comfort of your own home.

Either way, you are still confined to a physical space with its own requirements. Using a smartphone will allow you to expand your hours in order to remain flexible for your prospective customers, because you will be able to use the device as a credit card processing system whenever and wherever you need it.

Create Sales Opportunities in the Community

Another effective way to break through the plateau is to create brand new sales opportunities for your company within the community. Within your physical or virtual business, you might currently be limiting to your sales potential to the traffic that flows directly to your storefront. However, you can maximize exposure and increase your sales by using the mobile capabilities of your smartphone to search for profitable opportunities elsewhere.

For example, you can sell your products and services at local trade shows or conventions. Perhaps the service that you offer can be done remotely instead of from your office – such as a mobile mechanic or IT specialist. Even though these opportunities would require you to be a little more flexible with your scheduling, the sales opportunities that they will create as a result will make it all worthwhile.

Cut Down Overhead Costs and Related Expenses

In most cases, the overhead costs and related expenses that you have to pay out every month just to keep your business running can also hinder the business from growing due to the decrease in profit that they cause. Therefore, an efficient course of action to take would be to study your current list of overhead expenditures – searching for target areas that can be drastically (or even slightly) reduced.

For instance, you might currently use a standard POS system to process your front-end transactions. This type of equipment can easily cost thousands of dollars to purchase upfront and tens of thousands of dollars to maintain over time due to recurring charges and licensing fees, according to Entrepreneur.

Investing in a mobile POS system, such as an equipment kit offered by Shopify, will allow you to process your front-end transactions efficiently for a fraction of that overwhelming cost. Remember, the more money that you save on the frontend, the more money you will be able to keep on the backend which will place your company in a position for positive, long-term growth.

Stay Connected to Your Customers

Use your mobile technology to stay connected to your customers and clients. Doing so will allow you to drastically improve the quality of your customer service, especially when it comes to responding to their complaints and issues in a timely manner. Keep in mind that nearly 90 percent of consumers stop doing business with the average company after having a poor customer service experience, according to Sales Force.

However, the same study shows that resolving issues in a timely manner will increase the chances of winning those customers back. Using your smartphone or tablet to respond to email inquiries, social media messages and other types of correspondence between yourself and your customers will open more doors of opportunity for your business – including repeat customers and referrals.

Analysts are already predicting Google’s demise as the world’s lead Internet search engine after it suffered a catastrophic nose-dive in its market value.

“[Google] could disappear in five to eight years and disappear in the sense that Yahoo used to be the king of search,” said Eric Jackson, the founder and managing member of Ironfire Capital, a technology-focused hedge fund.

“Now, for all intents and purposes, Yahoo has disappeared,” he said on CNBC Friday.

Google’s stock value plunged a hair-raising 10% this week – wiping out more than $24 billion from the company’s value – after its third-quarter earnings report, which revealed a 20 percent drop in profits over last year, was accidentally released three hours earlier than planned on Thursday.

The profit losses were driven by a decline in advertising revenue, according to its earnings report. The amount that advertisers paid Google on a click-per-click basis fell 15%.

Advertising revenues are falling – and will continue to fall – for Internet companies because consumers are increasingly migrating to mobile applications and advertisers aren’t willing to pay as much for a mobile ad.

“I keep saying Facebook isn’t the only one that has a mobile issue – Google does, too,” Colin Gillis, an analyst for Boston Consulting Group, told CNBC.com.

“If you are an investor in Facebook, mobile is priced into earnings. I don’t think mobile in Google is priced in.”

Google's stock value plunged a hair-raising 10 percent this week

Google’s stock value plunged a hair-raising 10 percent this week

Advertisers aren’t willing to pay as much for mobile advertising because the platform is not as effective as advertising on a desktop or laptop computer, analysts said.

Other companies, such as Apple, will get ahead of Google in attracting advertisers to their mobile applications and Google’s dominance will eventually start to shrink, Eric Jackson predicted.

“I think that there is a big opportunity right now for someone to step forward and assert themselves for a new way of getting people information for doing search in a mobile world,” Eric Jackson said.

“I don’t think typing in a blue box is the ideal format for a mobile world. And I think the best opportunity out there to displace Google in this area is probably Apple’s Siri.”

For now however, despite its drop in earnings, Google remains dominant in online advertising with a 74.5% share of the U.S. search ad market, according to data from eMarketer.

Shares in Apple, the only technology company larger than Google in market value, fell by around 2.8% during trading on Friday.

Facebook, which is another technology stock heavily dependent on advertising for its revenues, saw its shares fall by 0.5% during trading.

The Dow Jones index of trading on Wall Street dipped more than 200 points.

Google blamed its printers for releasing the results by accident. Speculation was mounting on Friday night that Google could make a legal claim against R.R. Donnelley, the company it pays to put out its financial results.