2019, what an exciting time to be alive! The world is a much smaller place, with destinations and countries as close as a simple plane trip away. In the modern age, technology is king and the barriers for business startups have never been lower.
So, what can small businesses do in this new age to get out ahead?
We’ve put together a collection of useful tips and approaches for growth and success, with small businesses in mind, to help you get the most out of your business in the modern era.
1. Write a business plan
So, you have a product or service and you’re eager to showcase it to the world. Before officially launching and making yourself known however, it’s advisable to write a business plan first. Business plans allow you to set goals that keep you on target and serve as live documents you can revisit and change when needed. There are plenty of free resources you can use to get the process started, investing time into a business plan will pay huge dividends in the short term and in the future for your business.
2. Keep detailed records
One thing all successful businesses have in common, is that they keep detailed records. Knowing the status of your businesses’ finances, orders placed and where you are with potential prospects, gives a clear picture of where your business is at in that moment in time. Good time intervals to do so are yearly, monthly, weekly or even daily. Typically, the more frequently you can update records, the better. Keeping records allows you to compare your business at different stages throughout the year (s). For example, if your business is generating more revenue in month seven as opposed to month four, you can evaluate what you’re doing differently, and then aim to continue doing it for the future.
Development in technology means keeping records can be a simple process. It means you can ditch the piles of dusty log books and keep all records electronically. Storing records electronically saves both space and time as you can find what you’re looking for far more easily. There’s lots of online resources that can help ensure you’re storing in a time and space- saving manner.
3. Utilise marketing
Ah, the “M” word. When most small business think marketing, they think spending lots of money, along with a lot of acronyms and graphs.
Marketing is much more than that though and doesn’t have to break the bank.
In the age of global communication, there’s a plethora of opportunity to get your business out there. From social media, to blogs and video sharing sites, there’s plenty to get involved in for little investment. Many of these platforms are totally free too!
Setting up additional marketing for your business can be as simple as creating an online social media profile and using it to post content that promotes your business, there’s plenty of avenues to try.
4. Be creative
The technological boom has resulted in a new way for businesses to reach customers. Allowing for traditional adverts, but also for online advertising and marketing too. Averagely, we’re exposed to over 3,500 messages a day, many of which making no impact and flying under our radars.
Executing creative ideas helps your business stand out from the crowd, instead of getting lost in it. Being open to trying something different and out of the norm is sure to turn a few heads and help your business cut through the noise by creating memorable and lasting impact!
5. Communicate with your customers
A great way to improve your business offering, product or service is to get feedback from the people who use it most, your customers! Keep communication with your customers honest and open and learn from their feedback. Gathering feedback information can be as simple as making a telephone call, sending an email or sending a questionnaire for them to complete.
However it comes, any feedback is a great opportunity to get better. You can also try offering competition prizes for customers who give feedback to stimulate a greater feedback response.
So, there you have our list of small changes you can make to your business that will make a big difference! Which one are you looking forward to trying the most?