There is no doubt that running a small business can have its unique challenges. There is an awful lot that needs to occur to keep your business successfully growing. That’s why it’s so important to focus your attention on what matters both short term and long term. Here are a few tips you can employ to try and avoid the most common mistakes that small business owners make. The key is to proactively take action so you can straighten things out before small problems become significant issues.
Avoid the All or Nothing Trap.
When business is good and sales are humming along many business owners think they can cut back on marketing efforts. But this can be a deadly misconception. This is because when there is an inevitable sales lag you will be starting from scratch to develop business from new prospects.
Instead develop a marketing strategy that continually keeps you in touch with both existing customers to give them new reasons to keep doing business with you. And, to reach out to a steady stream of prospects to keep fresh blood flowing through the door.
Don’t Sell. Inform.
Digital marketing vehicles such as e-newsletters, social media, videos, etc. let you educate buyers about the benefits of your business. It gives them “the why”. Without understanding why they would want to buy something from your business-- you are only competing on price.
Simply sending discount offers –without company benefits--does not build loyal relationships and provide useful information. If all prospects know about you is a dollar sign they won’t really have a reason to remember you –other than checking your price when they’re ready to buy.
Embrace Your Size
Many small businesses try to look bigger than they are actually are. They want to look like a large because they think the ‘bigger is better’ mentality sells more effectively. But with so many small businesses in operation now, it is no longer the case.
People want personal attention and flexibility – the things small businesses are very adept at, and where their larger counterparts fall short. So it is actually beneficial for small businesses to focus on personalized customer relationships with the ability to adapt quickly.
Make To Do Lists
There is a big difference between being busy and being productive. When you’re running a small business, you can’t afford to waste time. At the end of each day make a list of the things you’ve got to get done the next day. Check it when you come in the next morning and amend as needed. Then check it again after lunch and again amend as needed. Check the list at specific times of the day so you can stay on track as other things that need your attention pop up. In this way you will remain in productive mode and avoid losing control of your day.