Who has not wished they could go back in time and apply things they have learned over time? We all have. It does not matter if it is our personal or professional lives. Below we list three things that our staff has learned over 20 years of working with businesses of all sizes.
Identify your niche and stick to it
Knowing exactly who your target audience is and hammering that group is key to your long term success. Even if at first it is slow going, stick to your plan. Persistence is what pushes a business forward. Take time and identify where you fit and how you reach your target demographic. Once you have a goal, you can start to get your message out. Have a consistent message; otherwise, you risk leaving customers confused about your value proposition within the targeted niche.
Narrow down your goals
When setting goals, make sure you break them down into smaller specific goals. Having specific goals help keep us focused on the more long-range ones. One example would be; I need to sell 100 widgets per month to cover my fixed costs. That is a specific goal that also helps you meet a longer-term goal of increasing profitability. When goal-setting, it should look like a pyramid with smalling more detailed purposes filling in the foundation.
Build a network
Networking is critical to the long-term success of small businesses. Small businesses need allies and support. Reaching out and connecting with other small to mid-sized companies in your area is critical. Look to see if there are business groups that meet both formally or informally in your area. Explore online groups that may meet virtually or have a group where small businesses can leverage each other’s experiences. Leveraging other business owners that face similar challenges only helps to avoid obstacles to your success.
Of course, these quick tips will not turn your business into a juggernaut overnight. One thing they can do is provide your business with a solid foundation. During these uncertain times keeping things simple and focused while leveraging people around us can only help your business grow.