Running a thriving small business doesn’t happen overnight; it takes a lot of hard work, patience, and know-how to achieve your goals. Sara Blakey, the founder of Spanx and the youngest self-made billionaire in America, said, “It's important to be willing to make mistakes. The worst thing that can happen is you become memorable.” Make sure you put in the work, even if it doesn’t always work out, and you’ll be much more likely to succeed. Check out these tips for a successful small business to get yourself started on the right foot.
Outline concrete goals
Rather than just hoping things go according to plan, it’s important to be proactive and intentional when it comes to your business. Outline specific goals, and brainstorm ways to make those happen. For example, rather than just having an abstract goal of “doing well,” outline exactly what your monetary goals are, when you hope to achieve them by, and other factors like that.
Pay attention to your employees
If you acquire a pre-existing business, chances are, you’ll also have some pre-existing employees to go along with it. Their needs are important and their insights are valuable, so make sure to prioritize your new employees. Listen to any concerns they may have, and value their opinions; they’re an incredible resource to have.
Foster a support system
Even if you’re the sole owner, one crucial tip for a successful small business is to create a support system for yourself. A support system will look different from person to person, so think about what really matters to you. From supportive family members you can confide in to fellow business owners you can consult with, a support system provides multiple benefits.
Learn about your competition
No matter how niche your business may be, no one works in a vacuum. That’s why it’s essential to educate yourself about your competition. Look at those who have become very successful, and study their tactics to see how they achieved their success. This is not about copying them, but rather understanding a roadmap of how some people have found success.
Customer service is key
People will remember what you provide them at your business, certainly, but what they may remember even more is how they were treated. Human interaction is impactful, both in a positive and negative sense, so make sure your customer service is on point. Negative reviews about your business are the last thing you want; if you greet customers kindly and give them punctual, helpful service, they’ll only have good things to say.
