Starting up and growing a small business can be quite challenging. From getting the right team, motivating them to believe in your dream/vision, building a clientele, marketing yourself and the products/services you sell can be daunting. Building your dream business will take up a lot of your time and effort but the rewards will be worth it. Hopefully these tips will help make your business life a little easier:
Risks, risks risks, take them!
People are often scared to take risks whether for personal or business reasons and will stop us from reaching our potential. A lot of ‘what ifs’ immediately daunt on people as they play various scenarios and out comes. As an entrepreneur, you need to understand that in order for your small business to succeed, risks are part of the deal and unavoidable. Before taking any risk, no matter what kind of risk it is, do your research, measure the benefits against the risk itself and weigh them before taking a decision. At the end of the day, it may not pay off but you would have learned something in the process that you may not have learned otherwise.
Promote your business, it will pay off
Often small business owners have the notion that they need a wad of cash to spend on promoting their business but the first thing is, it is not always that in most cases. You are your biggest fan, if you do not show that you believe in your business then certainly your customers will not. You need to tell the world about your business first, no one will and that is the only way customers will know that you exist. The internet has provided various ways for businesses to market and get known either for free or at a cost that will not break your pockets. You can add your business to Google business listing, this way when people search for businesses that offer services or sell products they need, your business will come up in search results. Or you can Build your own website and promote your products or services for customers to understand more about your business.
Social media can be used for business too
Social media has evolved from a network where you make friends and connect with people. You can now run ads on social media and create a page for your business. Join groups relevant to your industry on Facebook or Linkedin and contribute, ask questions and learn from industry experts. The more you engage with your customers the more they will understand your business and that will increase their intent to purchase. Social media helps to reach customers without spending loads of money and is easy to pivot if an advertisement is not working out. If you need help with social media and Digital Media in general get in touch with our Digital Marketing team for a free 30 minute consultation
A great maintenance culture will go a long way
One thing that kills any business fast is lack of a maintenance culture. Maintain the standards that brought your business to the limelight and even exceed them. This will help keep your existing customers loyal and attract more customers to your business. Ensure you maintain quality no matter what. Do not start giving your customers sub-standard products when you used to offer them great quality products. You will lose them to your competitors fast. In order to stay ahead of your competitors, spend time researching what they are doing and how you can improve your service even if you currently are the best there is always room for improvement.
Create a monthly marketing report, it gives you perspective
No matter how small your customer base is or how bad sales have been, you need to document your marketing efforts monthly. This will show you how well or how bad business was, what products are selling, which products are not and where you need to improve and push more marketing efforts.
Being a small business owner or entrepreneur is not a days job. There are many hurdles you will have to cross as entrepreneurs. Do not be afraid to take risks that will pay off in the end. If they do not, do not despair, dust your sleeves, get up and try again. Remember, quitters can never be winners.