Tips for Starting a Small Business

Tips for Starting a Small Business What is your number one tip for starting a small business?

17. Create unique contentPost unique photos of your business and your employees on social media — people prefer human fa...
22/11/2022

17. Create unique content

Post unique photos of your business and your employees on social media — people prefer human faces and real, behind-the-scenes footage over stock photos or videos.

Say you run a bakery. Find a way to bring people into the kitchen by filming your process. If you run a clothing label, create unique lookbooks featuring your female friends as models to show a variety of body shapes and skin tones, rather than hiring models from an agency.

16. Have a great website.Your website is the seat of your operations — it’s how new leads discover your products, and, u...
09/11/2022

16. Have a great website.
Your website is the seat of your operations — it’s how new leads discover your products, and, unless you run a physical store, the sole method for people to buy from you.

Treat it as sacrosanct. Keep the design clean and simple — limit colors, banner ads and pop-ups — and invest time in proper SEO. Before you build a website, put some serious thought into branding. Branding builds trust and differentiates you from your competitors.

State your brand’s value proposition upfront so first-time visitors understand your offer. Take it from the search engine DuckDuckGo. Its homepage states simply: “Search the web without being tracked” — a worthy appeal to today’s consumers who are concerned about data privacy.

15. Protect your intellectual property.Intellectual property consists of the intangible assets — trademarks, copyrights ...
09/11/2022

15. Protect your intellectual property.
Intellectual property consists of the intangible assets — trademarks, copyrights and patents — that differentiate your ecommerce business from any other.

For a small business, this means protecting things like designs, business ideas and trade secrets. If a competitor tries to copy your product, they can erode your market share and damage your reputation. If you decide to register a trademark or apply for a patent, it’s best to seek an attorney’s help to make sense of the legalese and avoid making minor mistakes (eg: omissions in descriptions or drawings, missing deadlines) that can result in your request being denied.

14. Maintain a personal touch.Small businesses are uniquely positioned to offer a personal touch — especially if you hav...
09/11/2022

14. Maintain a personal touch.
Small businesses are uniquely positioned to offer a personal touch — especially if you have a small team or run the company yourself. Handwritten thank-you notes go a long way. Or, you can include a simple gift alongside the purchase or offer freebies in exchange for reviews.

Use your CRM tool to make notes of personal details for each customer so you can offer more high-touch personalizations. For example, say you’re a jeweler who recently sold a custom engagement ring. You can send a simple wedding gift and a discount offer for a future purchase after the couple marries.

13. Automate as many things as possible.Automating repeatable tasks saves time and ensures small things don’t fall throu...
09/11/2022

13. Automate as many things as possible.
Automating repeatable tasks saves time and ensures small things don’t fall through the cracks. Recently met a prospective client at a networking event? Use your CRM tool to automatically follow up with new contacts within 24 hours or send emails to new leads who visit your website. Use accounting software to automate your day-to-day bookkeeping so you don’t waste time on data entry.

Salvage abandoned shopping carts by sending an automated email to nudge shoppers to complete their purchases. If you don’t use payroll software, learn how to automate payroll management in Excel.

Can’t offer 24/7 customer support? Set up a chatbot on your website to respond to customer queries outside of business hours.

12. Learn to be flexible.Agile businesses can quickly pivot in response to changing market conditions, while the slow mo...
09/11/2022

12. Learn to be flexible.
Agile businesses can quickly pivot in response to changing market conditions, while the slow movers struggle not to become obsolete. Lean into your data and be willing to change course. Listen to customer feedback and don’t be too wedded to your own opinions.

For example, let’s say you’ve conducted interviews with prospective customers and it turns out your product isn’t well-received or the market for it is too small. Don’t cling to a business idea that won’t float. Be willing to change your business model or pricing strategy if your current approach isn’t working for you.

If your website isn’t attracting enough traffic, you may need to ditch that outdated WordPress template you love and debut a more responsive design.

11. Stay organized.Proper documentation, time management, and automating repeatable tasks can mean the difference betwee...
09/11/2022

11. Stay organized.
Proper documentation, time management, and automating repeatable tasks can mean the difference between boom and bust.

Keep accurate records of business finances: Record every transaction (customer billings and vendor payments) into the proper account at least once weekly and keep an eye on the bottom line. Keep copies of all invoices, cash receipts and cash payments for bookkeeping and tax purposes.
Set (and keep) deadlines: Stay on top of administrative tasks using project management software — this lets you set deadlines, assign tasks to employees and upload documentation to a central repository.
Plan ahead: Plan your social media campaigns in advance using social media scheduling software. Use email marketing automation to follow up with new leads. Use Slack, Zoom and Microsoft Teams for quick communication with your team. If something can be explained in an email, you don’t need to have a meeting about it.

10 Know Your AudienceIt is possible that you are putting lots of effort into your business and still failing to grow. On...
05/10/2022

10 Know Your Audience
It is possible that you are putting lots of effort into your business and still failing to grow. One of the causes of failure is that you are putting your efforts in the wrong place. That’s why it’s necessary to understand the area in which you want to start your small business and your target customers. One of the best ways to find your target audience is by first thinking about the specific needs your product or service fulfills. Identify the pain point, and then determine who has those pain points. For example, if you start a business that designs websites, your next step would be to find out who needs a website and would likely have trouble creating one. In the above situation, your target audience is likely small business owners. Understanding your target audiences will help you advertise more efficiently as you know who your target audience is and how to reach them and save you from wasting your money on an uninterested audience.

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