Do you ever feel like you are treading water and not making strides towards your small business goals? Maybe you’re struggling to narrow down your goals to begin with? Every small business owner wants to be profitable, but it’s not always smooth sailing to get to that point. Take a look at these 5 ways to find success as a small business owner
Focus on Excellent Customer Service
A recent survey tells us that 78% of consumers have not made a purchase they planned to make as a result of poor customer service. Studies also show that it requires numerous positive experiences to make up for a single poor one.
Loyal customers are easier to sell to, so you need to make excellent customer service top priority. Evaluate your present customer service so you can make necessary changes to ensure your small business consistently provides top-notch service that’s superior to your competitors at every single touch point. One easy thing to do is to respond promptly to messages from customers via social media, telephone or email.
Build Positive Word of Mouth
It doesn’t matter if you run your business in a little community, a large center, or online exclusively, word of mouth is the most important way you can grow your business as you start your entrepreneurial career. Consumers often head straight to the internet to read reviews about businesses and then they talk to their friends before they decide where to shop. This makes it essential you build a good reputation so your small business can find success.
Not sure how to get that coveted positive word of mouth? There are a few simple steps you can take to make sure people are spreading good things about your business. Always provide professional service and make sure to build and monitor your local reputation. Do what you can to gain publicity by being involved and giving back to your community. You can do this through sponsoring and supporting local charities and organizations.
Grow Your Marketing Efforts
Now that your side hustle is a full-time gig, you need to grow your marketing efforts. Boosting your sales requires effective marketing, but you don’t have to spend all of your money to promote your small business. You can utilize countless inexpensive tactics to market your services and products. Consider sending out coupons and promotions with invoices, offering free workshops related to your products and services and cross-promoting with complementary businesses.
Build Your Online Presence
Your small business has to have a website. You may think you don’t have the time to build one and maintain it, but building a professional website is a painless process and it will help you grow your business tenfold. You need to be in the online space – surveys show that more than 70 percent of consumers take time to research purchases online before they make a purchase. Never underestimate the importance of a website.
Slash Your Small Business Costs
Business costs seem to continually be rising, so it’s vital to keep those expenses in control. While it’s tedious and time-consuming, it’s worth it to save money.
Consider reviewing your significant costs semi-annually, such as business insurance, vehicle expenses and office space. If you’re located in a town with available commercial space, consider relocating to save money on rent. If you don’t have to have a storefront, revamp your business to a home-based one.
Evaluate your major supply costs consistently and watch for discounts and ways to cut costs. Reducing expenses should be a part of your everyday life and encourage your employees to help spend less money too.
Success is not a given, it’s something that requires patience and persistence. Take some time to evaluate the areas of business that could use some tweaking. Make improvements as needed so you can have your most successful business year yet.