Getting a business off the ground is always hard work and success is never guaranteed. However, by focusing yourself and your team on delivering these five core ideas, you can give your business the best chance to thrive. Once you are up and running, it’s easier to make other decisions, such as whether your company needs to expand or would benefit from a virtual assistant. Small business ownership can be incredibly rewarding – when you are organised and consistent.
Tip One: Shared team, shared vision
A business is only as successful as its people. As such, the most important first step to a successful business is a great team – even if that’s just you and one other person – so it’s important to know what your vision for the business is and to share it with anyone who works with or for you – and that includes outsourced suppliers like admin services for small businesses or your professional advisers.
Tip Two: Stand out
The second thing you need is a receptive customer base. To do this, you need to understand your business’s unique selling points, and communicate them to the right people. It doesn’t matter how unique or invaluable your service is if no one knows you exist. A solid marketing plan will be indispensable in letting people know about your small business. Email marketing, social media and direct marketing are great ways to get your message out.
Tip Three: Look after your customers
No matter how flashy the marketing or how hardworking your people, your business must always provide great value and service to your customers. So work on making sure your customers feel like your number one priority all the time. You might need to enlist some help with this, such as dedicated virtual customer service. For small business though, the best way to compete with the huge marketing budgets and economies of scale of big business is to provide a more personable and high-quality service.
Tip Four: Follow the money
You are focused, your goals are clear, your marketing starts to draw in customers, your quality service retains them, and now your business is beginning to take shape. So it’s important that you have a system for keeping your finances in order. In order to get ahead as a small business, bookkeepers or accounting services can make a big difference. Keeping on top of income and expenditure will show you where you can improve your takings and where efficiencies can be made. It also helps to ensure that you are well prepared for your personal and business tax returns.
Tip Five: Remember to look after yourself
Running a small business is hard work. Burnout can be a death sentence for a small business, especially in the early stages when a lot of determination – and sometimes luck – is needed to push it forward. Consider what you can do to keep you and your team motivated even through difficult times. Look for help with everyday business tasks so that someone else is taking the strain and you can concentrate on growing your business and giving yourself some downtime.
There is no one magic bullet to ensuring business success, but these seemingly simple concepts could help you get ahead. Taking the right decisions at the right time is important – like deciding whether to hire admin staff or invest in a virtual assistant. Small business success is a complex and varied landscape, and by carefully using the help available to you, you could be seeing the start of something special.
If you need help to make your business become great, feel free to call us on 0800 994 9016 or use our contact form in the menu above.