Owning a small business means running against a massive competition. To put it in perspective, 99.7% of all US employer businesses fall precisely into this category, making it the absolute majority of the entire US business landscape. The climate varies very little across the globe, and the rise of startups in tech-advanced countries, especially in Asia, only means that there will be more omnipresent businesses running for the top of the food chain.
It all boils down to how well you run your own small company and how you can ensure that its day-to-day operations run smoothly. The following six pieces of advice are aimed precisely at small business owners who are looking to up their game in the face of this large pool of competitors.
This little pearl of wisdom cannot be mentioned too many times, as noting just how relevant your digital game is will define the direction of your entire business, as well as the speed at which it grows. It would be an understatement of the year to say that having a website and social media presence is crucial – because how consistent you are with running and updating them, how sleek, smooth and simple to use your pages are will be the determining factor between converting a visitor into a buyer and sending someone to your competitor’s page.
Having a team dedicated solely to this aspect of your business, no matter how small, is a step every company will need to make sooner or later. Even one-person operations quickly hire someone to manage their social platforms, schedule posts, find the right imagery, and take care of their website functionality.
Many business owners quickly become overwhelmed with many day-to-day responsibilities and start neglecting their primary business-building steps, including networking. Staying ahead of the learning curve means you’ll be able to shape it, so surround yourself with like-minded visionaries and do your best to learn from them. That may lead to more clients, partners, or investors in the future.
Having a small company doesn’t mean that you’re serving a small group of customers, on the contrary. Many of them have few employees, but an incredibly massive audience and a customer base that is constantly growing.
With this in mind, using an ERP system, such as the one provided by The Leverage Technologies, allows you to scale your business operations, monitor all aspects of it, and make changes in real time as they are needed. Every small business needs this level of flexibility, especially with a mindset focused on growth.
Investing in your employees and your company will always be one of the pivotal parts of your growth puzzle, but how much you are willing to give back to your own community will also be an unparalleled reputation-builder.
Choose a charity or an organization that is close to your heart and resonates with the values of your brand, and you will quickly establish a relationship that will present you in an entirely new light in your niche and in the eyes of your customers. This is a long-term commitment that will be well worth your time and effort when it comes to helping people in your community as well as growing your own business.
In addition to your employees, investors, and your partners, what your customers have to say ought to be a guiding star for your small business. Their input is invaluable when it comes to shaping your product, delivering the right online and offline presentation, and establishing stronger relationships with your audience. If they say they prefer video content over blogs, or if they prefer social media to communicate with you – listen to them and give them what they need.
As a business owner, you deal with a slew of tasks, meetings, and errands every day. No matter how well you know your brand, you will need to let go of certain parts of running your business in order for it to function smoothly. Too much control often means that you have none in truth, so delegate to your employees, consider freelancers to work on standalone projects, or hire a virtual assistant to help with your responsibilities.