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Top Tips for Small-Business Owners

small business ownerThe fact you are a small business owner shouldn’t change the fact that you, like any big company, deserve success and progress. Here are some useful tips to get your firm going:

Little companies are of potential

Naturally, your end goal is to play chess with the big ones. Still, in order to get there, you need to plan your strategy right. Take some time and think of ways you wish to promote your product. Also, you know that saying Imitation is the best form of flattery? Well, observe how some larger companies promote their brand and find the way to outsmart their strategies. Doesn’t matter that you are a small company (for now) – if you play your cards right, you’ll be moving up a few floors soon!

Mistakes are okay

Don’t be afraid to fail from time to time. Otherwise, you’ll hardly ever learn what works and doesn’t work for your establishment. Remember – you are not a failure if you fall. You are a failure if it takes ages for you to get up, or if you never do. Just remember Steve Jobs saying: ‘Sometimes when you innovate, you make mistakes. It is best to admit them quickly, and get on with improving your other innovations. Don’t lose faith.’

Use free social media to your advantage

Spending a fortune on advertizing is good enough when you have money. But when you don’t – you need to turn to more cost-effective ways of advertisement, such as Twitter, Facebook, Blog. If you tweet and FB-post with humor and knowledge, if your blog is nothing but pure reading enjoyment, you’ll quickly build a readership and therefore find customers that are willing to give your product a try.

Note: Please, when posting things on your TW/FB page and when writing in your blog, make sure there are no grammar mistakes. Those are just rock bottom, especially when you are trying to present yourself as a serious company.

Promotional merchandise

Giving out promotional products is always a win-win situation (given you don’t go over your allowed budget). Customers will be happy to get something for free and you’ll build a reputation of a firm who cares about its clientele. A grand mistake is thinking all you need to do in order to be successful is have quality product. Sure, that counts too (a lot!) but much of what happens to your firm in terms of its marketing and advertising the product will mark the rest of your business-ing.

Make a good selection

…of people! Any business, small or big, needs quality people in their staff. These people are setting the ground for your company’s success so you need to choose them wisely.

You also need to know that there are two kinds of people in business – containers and expanders:

containers are those people that like things kept in order, who are on top of every single detail and are amazing at noticing even the smallest of details in contracts, business deals and so on
– expanders are ‘ready to go people’; they love pushing the envelope, testing their own limits, making new friends, risking with business deals

Both groups are amazing at their own right. The key is to recognize these qualities in people so you can match them with a suitable position. Once everybody does what they love and what they are good at, you’ll have an amazingly strong team on your hands. This will give you strength to build a successful and huge business!

Note: When you are interviewing, pay more attention to people’s attitude, level of enthusiasm and honesty than experience. Naturally, experience IS very important, but you need to work with people who will want to always progress and help your company grow.

Don’t procrastinate!

Leisure activities are just fine but only when all work is done! You’re familiar with a saying: Procrastination is the enemy of success! The time and energy you waste on doing absolutely nothing or, even worse, on (over)thinking what next to do business-wise, is the time you should have better used on actually doing those things! Obviously, if you feel stuck with your life/business and aren’t sure which direction to take next, it’s ok to ask for help or even take a breather to see which way things are headed. Just, don’t give up altogether – you’ll regret it later.

Observe and plan

In today’s market, it’s all about being innovative and keeping up with the trends. But, sometimes this isn’t the best cup of tea for everyone. The trick is to observe what works for your business and to repeat it. This doesn’t mean you should altogether give up on innovations, far from it. Just, do more of what’s already working and slow down with the new stuff! Also, have a set up system that’ll help you keep things in order. This way, you’ll avoid wasting time, dealing with customer complaints and will build your business way faster than you thought you would!

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