Starting up a small business can be very challenging. Getting the right team in place, motivating them to believe in your dream/vision (despite the small salary), building a client base, marketing yourself and more can be really draining. Let’s make your business life a little easier with these tips:
Risks are gifts packaged in unattractive boxes, Take them!
“…In a world that changing really quickly, the only strategy that is guaranteed to fail is not taking risks.”
– Mark Zuckerberg
The notion of taking risks whether for personal or business reasons is scary and more often than not stops us in our tracks. A lot of ‘what ifs’ immediately play up various scenarios in your mind and they can be very daunting. 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.
You are your biggest fan, promote your business
If you are a small business owner and you have never read the story of ‘The brave little Tailor’, you absolutely should. You may not have a wad of cash to spend promoting your business but the first thing you need to know is that you are your biggest fan. If you do not tell the world about your business first, no one will. Thanks to the internet, there are various ways you can get your business known for free. 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.
Social media is a fun place to make friends but you can use it 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 fan page for your business. Join groups relevant to your industry on Facebook or Linkedin and contribute, ask questions and learn from industry experts.
Cultivate A great maintenance culture, your small business will thank you for it
One thing that kills any business fast is lack of a maintenance culture. Maintenance not just in terms of oiling your generators and making sure your delivery vehicles are in top condition. 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.
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.