It’s not always easy to operate or own a small business. Clients can be very demanding and sometimes you may feel alone and stress can get the better of you. But, if you follow these five magic rules, your chances of succeeding in your venture will increase exponentially.
Flexibility is Key
The great thing about a small business is that it allows you to be flexible. Thinking on your feet and responding in real-time is a great advantage. There is no excessive chain of command so decisions can be made quickly.
Think about your customers and cater to what they need. You can easily run promotions on items that aren’t selling or that fit a particular theme without needing to get permission from anyone higher up. Use the fast decision-making process to your advantage.
Try Original Options
One area where you can practice your flexibility is how you run each aspect of your business. In your small setup it’s easier to implement innovative changes than in a larger corporation, so use it to your advantage.
For example, you can easily give remote working a try, while a big company will find it more difficult to reorganize their large team. This can draw talented workers since many applicants these days value this option. Also, when you hire business laptops instead of buying desktop computers you can see which setup works for you before you commit. As a bonus, you can save on the cost of office space. You can see how one decision has far-reaching effects.
Another original approach is outsourcing tasks to get professional assistance in important areas like marketing and accounting. Benefit your brand with expertise on your side.
Become an Expert in Your Field
Certain customers tend to prefer someone who is focused on a certain topic, rather than a ‘jack of all trades’. As a small business, you will focus on one key area and you can work at becoming THE expert in that field. Over time, anyone looking for the product or service you provide will know that you’re the go-to person in this regard. This is different from a large corporation or brand that may have various focus areas.
Take Feedback into Consideration
As a small business make sure to interact directly with your customers and find out their likes and dislikes, as well as what works and what doesn’t. In this way, you can adapt and make changes where necessary.
Deal with any complaints in an efficient manner, showing that you care about your customer being heard and feeling appreciated.
Professional Personal Service
People crave hands-on experiences. This is better than a shopping experience that feels clinical and in addition, they want to feel like they matter. You can ensure this if you greet them by name, whether it’s at the door or in your email communication. Show them they’re not just another number on your system.
Providing your customers with a personal touch will allow them to feel valued and they are more likely to return if they feel special.
The goal is to get your customer to return and tell others about your business. That’s how a startup can scale into the business you dream of. If you follow these magic rules, you’re already one step ahead of the competition.
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