5 Tips for the Small Business Owner

5 Tips for the Small Business Owner

All of us at some point or another have wanted to open our own businesses. It’s exciting to try something new and to know that all the profits at the end of the day belong to you. You may have to put in long hours, but knowing any additional effort will bring you rewards is reward enough. Everyone has advice for the new entrepreneur, but what advice do you take and what advice should you ignore. There really is no perfect way to start your own business venture and it is certainly a learn-as-you- go adventure, but here are some tips that the small business owner might find beneficial.

 

  1. The Customer Is King – Customer service really does count. It’s all about building a positive reputation and there is no better recommendation than the word of a happy customer. Many businesses offer a similar type of product or service to yours, but treating the customer as King will make you stand out from your competitors. If they call then call them back, if you don’t have it in stock then order it. Listening to the customer and valuing their business is the first step to success.

 

  1. Excuses, Excuses – Stop making excuses about why business is not working or why your supplier can’t deliver on time. Own your problems and find ways to sort them out. Talk to your staff, speak to your supplier and reach an understanding. Don’t let excuses hold you back or slow you down. Create a solution and then keep your promises to customers and try to exceed their expectations.

 

  1. Keep Up With The Times – Be current. You need to embrace the digital age as it is the most effective way to reach your prospective customers. Start your own website and maintain it so it remains relevant. Show the customers what you do and what you are selling. Use photographs, share all your testimonials when customers have praised your work. If you don’t know where to start regarding what technology you need, then contact these guys,  https://nexgen.com.au/ If they can’t help with your technology needs, then no one can.

 

  1. Money Does Matter – No matter what people tell you money does matter and you need to keep a keen eye on your accounts. Be sure to know what’s coming in but more importantly, be aware of what’s going out. Those books have to be balanced and there are many accounting softwares available to assist you with this. These business systems can be set up to do your billing, send invoices and remind you when money is overdue. The technology allows you to quickly check that your staff have been paid and that your debtors payments are due.

 

  1. Share The Responsibility – Don’t try to do everything yourself. If business is booming, that’s great, but try to delegate some of your responsibilities to someone else. Working to a point where you burn yourself out certainly isn’t helping you and it will result in a poor service to your customers. This extra free time will allow you to look at your business from different angles so you can find ways to improve it and make it even more successful.

 

Running your own business can be exciting, exhausting, and stressful, but hopefully rewarding and if you follow the tips above then your life and your business will be much happier.

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