A FEW BUSINESS TIPS
My goal is to help the small business owner build up her or his business, by providing some marketing, management and other skills. Make sure you stop in frequently to see what’s new to get your business on track!
5 things to that will fail your small business.
According to the recent and historical stats, over 50% of small businesses fail in the first year and 95% fail within the first five years.
Becoming a small business owner is an exciting phase which comes with many challenges. Only a few succeed that hard phase. Why?
You need to really study marketing and customer service to find your answers.
Surviving is vital for your small business so you must establish a good foundation and move ou from there.
I will tell you 5 things that you should look out for to help you succeed:
- Failure to understand your customers
You should know who your customers are and their needs. Put yourself in their shoes. What kind of service do you want when you go somewhere? Identify with them, which is crucial. Remember, they hold the magical key to success your business.
Understand what they want. Look at their expectations from their point of view. Reach out, talk to them and show them that you value their input. Win them and you will win in your business.
- Failure to offer something interesting
If your business is offering something that is available anywhere it will less likely to attract sales and stand out. You need to do your best to stand out. Sometimes, just treating your customers with that extra attention and gratitude is enough, because many places are not doing this.
Be special. Be unique. Give your customers something that they can’t find elsewhere.
3. Bad planning
You must know what you are doing and how you are doing it. You need to have a plan, a set of goals and an expected outcome. You must have a written business plan. which describe your business, its mission, and vision.
The budget, how many resources you need, your market and competitor analysis. A business plan will guide you towards correct path.
- Lack of communication
People need to know about your business. Become a marketing master! Use social media and just tell everyone that you know about your business and ask for referrals.
Your business is like a new born baby. You need to tell the world the happy news. Social media today is like a magic wand that you can wave and get things done. Spread the news. Tell the world what your small business is all about. Also, ask them for THEIR business cards and cross promote. Networking and helping other is one of the greatest secrets of business.
- Complicating it
You are an entrepreneur and must be overflowing with amazing ideas. Don’tt try to put them all onto one plate at once. Be simple and clear. Start at step one and go from there.
Eventually, you will be able to pull out all your ideas and turn them into something valuable.
The longest journey starts with just one step. Take that step and then little by little, you’ll be like a steam train that no one can stop.
Know your strengths but also realize that you have weaknesses. Try to do what you can, but realize that it takes a team to do big things.
Do your best to bring in strong team members that will compliment your business and your plan.
Keep it simple! Things will fall into place. Stay focused.