Running a small business can be extremely rewarding and lead to success. Whether you inherited your family’s business or started your own, there are some easy ways you can improve your already existing model to make it as successful as possible. Sometimes you might see small business owners sticking to the same methods for years but aren’t seeing much growth. Therefore, these owners should be open to development in their business models. Here are some easy ways that you can start improving your small business today.
Setting goals is important whether you just started your business or you’ve had it for years. Having clear goals in mind will help you know which direction you need to take your business in and possible ways to do that. Some examples of goals you can set are increasing sales over the weekend or make an important upgrade to your website. This will give you and your team something to work towards and help you eventually reach larger goals. However, it’s important to set goals that are not too far out of reach. Setting unrealistic goals can decrease motivation and hinder your ability to reach smaller goals.
In today’s current digital age, it’s important that businesses are utilizing digital methods whenever possible. This could be setting up a feature on your website to enable online ordering and access to their menu. If you already have these strategies implemented, the next step would be to create social media pages. Not only does this help increase your online presence but it allows you to utilize free advertising. By having quality social media pages set up, you are making your brand presentable and desirable to consumers. They will also be attracted to the convenience that these features provide.
If you currently have a loyalty program but it’s using physical stamp cards, consider making the switch to a digital loyalty program. We have outlined why you would benefit from upgrading to a digital loyalty program in this blog post.
Monitor Consumer Expectations
Knowing what consumers want and being able to tap into that can really set you apart from your competition. Amazon did this with their Prime membership and offering free two-day shipping. During that time, a lot of major companies would only offer free shipping after spending a certain amount of money and it would still take up to 5 business days to receive their package. Amazon saw the opportunity to capitalize on a very reasonable consumer expectation and this has set them apart from other e-commerce businesses.
Another example would be if you run a small pizzeria, you might notice that in your surrounding area there are a lot of busy and fast-paced people. This might mean they don’t have the time to come in, order a pizza, wait for it to be done and leave. You can look at your options and consider offering online ordering or delivery with Postmates, Uber eats or any other food delivery service that is available in your area.
Hire Quality Staff
Your staff is extremely important to your business no matter what scale you’re on. They are the face of your company and typically have the face-to-face experience with your customers. You often hear horror stories of staff members stealing money from the drawer or acting inappropriate towards your customers. While some situations are unexpected, there are ways you can potentially prevent such incidences. When you are starting the hiring process or even thinking of adding another team member, take the time to filter through candidates. Often times, business owners or managers are in such a rush to fill a spot and don’t really take the time for interviews and hiring. Don’t be afraid to spend the time to call the references on someone’s applications or look at their LinkedIn page. These extra steps could save you from un-intentionally hiring an irresponsible employee.
Quality staff members will also be motivated to reach goals and take the steps necessary to help improve your business. These staff members are going to be very vital for the success you will see with customers and your brand image. You might even get lucky and find someone that has experience in business or marketing. This could really take your business to the next level because they will be able to help you brainstorm on potential changes.
Recognize your Limitations
So far you have four effective ways to improve your small business. You might be getting excited and thinking of all the possibilities and just how effective they’ll be. Something that you need to remember going forward is that you also need to recognize your limitations. All business owners have financial or physical limitations and the key is to understand what they are and set goals that don’t exceed them. Pushing your limits is great when trying to discover what you are capable of but this is very different than purposely exceeding them.
For example, if you are trying to increase sales for the weekend, this doesn’t mean you should be draining your savings account to run advertisements before the weekend starts. An easy way to achieve this goal with out any risk would be to offer a coupon or happy hour to your loyal customers that follow your business on social media. Not only is this free to do, but if you don’t regularly partake in these types of strategies it’ll excite your customers.
Every small business has room for improvement and there is no shame in that. If you want to be successful, it’s important to know that you should always be innovative and see where you can make a change. These 5 effective ways are just the beginning to your small business journey and will ultimately help you reflect on your methods to see what areas need to be worked on. Having a motivated team of people to help you along the way will help you achieve whatever goals you have set.