Small businesses are essential. They make up nearly 70% of all businesses in the United States. Becoming successful takes hard work and sacrifice. However, if you dedicate yourself to your company during the first critical years, you’ll reap the benefits. Below are a few tips to help realize your dreams.
1. Get Financial Backing
Whether you have an established business or are considering starting one, you need capital. Lenders want to know they will receive a return on their investment. Unfortunately, this is the dilemma that many people face when they first enter the forum. Before going live, you must have a detailed business plan and knowledge of the business you choose. It’s not enough to have an idea. The lender must see that it’s profitable. Many successful business owners will tell you that they started out financing themselves. They used every means necessary to secure the funds. Sometimes they refinanced their homes and maxed credit cards.
2. Be Credible
It’s difficult for a small business to stand out among its competitors. You must establish credibility. With so many online scams the consumer needs to know that you are providing a service or selling products. There are a couple of things that allow you to achieve it.
One is a business website. Creating one that offers valuable content, has customer testimonials and background of the formation of the business and what you expect to achieve, are a few essentials. Done correctly, your website allows you to compete with the big businesses, projecting the impression of a much larger status.
Social media is another must for any small business. Having a presence will reinforce the website. The good news, even if your business is brand new, the monthly fee to place ads at an opportune time is very inexpensive. Social media sites attract millions of people daily. Even if 10% click on your ad, you’ll create a substantial amount of traffic to your website.
3. Face Behind the Name
The success of a small business owner in their community doesn’t happen by chance. Owners spend time and money to achieve it. They sponsor local teams and organizations. They give back by having an annual summer concert or clam bake. Small business owners also appear at festivals and fairs. They put up a 10 x 10 pop-up tent canopy featuring their company name and logo for visitors to see from a great distance. They have samples of products, pamphlets, and some even host classes. Once people see the face behind the business, you become familiar, and ultimately a household name.
4. Make a Commitment
Bringing in new business won’t mean anything if the same amount heads out the back door. In order to sustain real growth from one year to another, you must make a commitment to satisfy your customers. A happy customer is an invaluable tool to grow your business. Besides giving repeat business, they also send many referrals. Thankfully, keeping your customers loyal is easy. First, stay connected. People don’t want to feel used. Send monthly emails that are business-related and informative. For example, if you specialize in gardening, offer tips on how to keep bugs at bay or harvest fruits and vegetables. Second, offer incentives, either monetary or discounts for sending new business your way.
5. Knowledgeable Staff
There’s nothing more frustrating than calling a business and not being able to get an answer to your problem. All too often, small businesses lack a trained staff. Many times when a customer calls with a problem they need to wait hours or even until the next day for the owner to contact them. Unfortunately, by this time, they are no longer your customers. It’s essential that you have at least one person in the office or available to talk with customers quickly.
Growing a small business takes commitment and dedication. During the first few years, establishing a loyal base will enable expansion. Use social media to attract viewers to your website and have a website that is both informative and convenient. Give back to the community and keep your name visible.
Article Submitted By Community Writer
