Small business owners are the foundation of the country’s economy. When they succeed, the country does better. However, when they fail (or remain stagnant at best), the country loses steam. Thankfully, if your business is showing only a slight profit, there are ways to bring it to the next level of success.
Active Member of the Community
It takes years to establish your good name. And, if you want to remain the “go to” for customers you must remain active in the community. Luckily, there are many easy ways to do it. You can part-take in a tree-planting ceremony on Arbor Day, or become a sponsor to one of the local youth teams.
Adapt to the Changing Times
While some of the old marketing methods still prove effective today, if you want to remain one step ahead of the competition, you must adapt to the current avenues. In the last generation, more people have opted to listen to music and watch television through services or via devices that let them enjoy their media without having to deal with commercials. This means using a large portion of your marketing budget for radio or TV commercials is no longer the best choice. Instead, particularly Millennials, use social media as their source of entertainment. The good news is that placing an ad that directs people to your website is relatively inexpensive, in comparison.
In addition to becoming an active member of the community, hosting events at things like trade shows and fairs or a music festival are just a few of the event management trends for 2019. This enforces your presence in the community and allows consumers to find out more about the business, your humble beginnings and your projected goals.
Stellar Customer Service
Customer service is essential for every business owner. And exceeding their expectations for service can go a long way to improving your name. Make sure that your staff understands the company policies and that they have the knowledge to answer all of your customers’ questions. Conducting monthly meetings where you include this part of the business practice will help keep those who deal directly with your customers on the same page.
Loyalty Produces Clients
Don’t discard your loyal customer base. They are a powerful component to your business’s success. Loyal and satisfied customers have no problem telling their family and friends about your company. As such, you will gain more customers each year through word of mouth. If you want to take it a step further, offer incentives such as a discount on their next purchase or a small monetary finder’s fee.
By now you know how hard it is to find qualified candidates to run your business. So, it’s also important, once you do have a staff that’s exactly what you want, that you keep them happy. One way to do this is to provide annual bonuses for the business profits gained in the past year. Another way is to provide benefits that show you care, such as a flexible work schedule, health and retirement benefits, and paid vacations. It’s also in your best interest to ask periodically at, say, a monthly meeting to find out if there’s anything that you need to do to make their jobs easier.
Achieve Your Goals
Each year businesses put forth a plan of action for the coming year. In many cases, the projected goals are quite modest. If you want to exceed expectations, you must learn to think bigger and better. Don’t settle for mediocrity. Then divide the plan into increments, short term goals every two months, and long-term–where you want to be at the end of the fiscal year.
There are over 30 million small businesses in the United States. If you want your business to break boundaries and stand apart you must have a vision that includes using the latest technology, establishing yourself within the community and using your existing customers to promote new business.