How to run a successful small business

Tip 1 - Focus on customer service for word of mouth marketing

I think focusing on customers is very important for small businesses to be successful. Since you can't spend a lot on marketing campaigns, ensuring that your customers are satisfied earns you a lot of goodwill and word of mouth advertisement. Read the article I am linking here too for more ideas.

Tip 2 - Matthew Lucas: Outsourcing to the right companies

Matthew Lucas stresses upon the need to outsource and delegate aspects of your business to the right people. Gone are the days when you could simply put up a website and expect results. These days you need specialized people to handle promotion, marketing and sales activities.

Tip 3 - Melinda Emerson: Make sure any relatives involved in your business know your goals

A lot of small business owners involve their relatives but end up being disappointed due to several issues. Melinda Emerson, in her post, discusses the importance of sharing mutual business goals for success when relatives are involved.

Tip 4 - Make use of free internet advertisement platforms

If you are not using the free resources available on the internet you are losing out on a lot. Make your free profiles on social networks and create a free website with a service like wordpress. The more your name is out there the more business you are likely to get. For more details, read:

Tip 5 - Hire wisely Build a team, not an ego

Hire wisely!

 Your business is only as good as each individual employee’s contribution. Therefore, look for the “3 I’s” when you hire: Intelligence, Initiative and Integrity. For every position, from the receptionist to the shipping clerk, hire only the best you can find.

Build a team, not an ego!

 Many employers let their egos dominate their interactions with their employees. Stop the pattern. Instead trust your employees to do their job. Let all your employees know that they are an integral part of the company’s end product. Set the example for positive interaction at all times between the members of your team, even when their performance must be corrected. Ask yourself.....

by Thomas J. Leonard

Tip 6 - Only expand your workforce when the need arises

One major reason small businesses suffer is unplanned hiring. You should not hire people unless they are absolutely needed and can positively contribute to the growth of your business. This will not only save you money but will allow you to spend more on stuff like marketing and advertising or improving your services.

Tip 7 - Define your business

Start with the basics, define your business. What will you be doing? Are you offering a product or service? How will your customers buy your products or services? (Will you use the phones, shop, online) What is your pricing? What makes you different to competition?

Tip 8 - Be on the lookout for growth opportunities

Small businesses can only be successful if they grow, and you should be ready and on the lookout for any opportunities that come your way. This can be in the form of a huge order, an affiliation with a larger company or the chance to land a big contract for supplies. If you let opportunities go, your small business will never grow. Some good tips are shared in this im linking below: