Launching a small business is a serious undertaking that requires vast deposits of passion, patience, time and money. To succeed in the journey from zero to raking in the big bucks, never decline an offering of good advice — your business depends on every advantage it can garner.
Flexibility
Never be too rigid in the direction of your startup company. Yes, a plan is most definitely necessary from the get-go, but nothing is certain in the world of business. Your company may require a private virtual server, more employees than you had anticipated or greater amounts of cash. Flexibility will allow your business to grow and evolve in the direction that is conducive to success.
Social Media
Expand your Web presence on Facebook, Twitter, LinkedIn and the like. Strategize which social media sites are most relevant to your company. Post rich, informative and original content. Keep followers up-to-date on new products or services, but only intermittently. Focus on alluring followers to participate in conversations and become active on your page.
Feedback
Connect to customers and ask them how the business or transaction could be improved. Directly elicit feedback. Create a conspicuous link, asking “How can we do better?” on your site or printed on your receipts with an email address, so that customers can share thoughts on the transaction and your business in general.
Research review websites to gain informative feedback on how consumers view your business. Depending on your company type, check out BBB.org reviews, SiteJabber.com for website reviews and Buzzillions.com for reviews on electronics, computers, clothing and other products useful for retailers and manufacturers.
Hiring
Startup companies are tasked with the challenge to hire the right staff with a meager salary and unproven success. Not only is it problematic to attract competent workers, but the challenge also lies in hiring someone who can adapt to the amorphous demands of a startup company and who is proactive in furthering the company’s advancement. Consider trial periods for potential employees to prove their value to the company.
Manage Finances
Companies must manage transactions and cash-flow. For startups, use Microsoft Office or Google for templates that best fit with your business model. After sizeable growth, consider software programs to easier track monetary changes. Tracking the peaks and troughs of financial change is crucial to indicate the pros and cons of your business strategy.
Follow Blogs
Blogs provide small business owners with an opportunity to stay in touch with the industry’s current events, upcoming changes and trends. The right blogs contain gems of advantageous information — all at your fingertips. Integrating with like-minded blogs will also attract more links and attention to your business.
Smallbiztrends.com suggests following Killer Startups, Harvard Business Review and Quicksprout for business leadership and entrepreneurial advice. Also, Blueglass and Copyblogger offer valuable data on content marketing tips.
Brand Recognition
Expand brand recognition by posting flyers and leaflets in the community. This is especially relevant for local businesses. Write engaging stories about your company — perhaps its unique inception, goals and usefulness to consumers — and send them to local papers or sites for publication. The aforementioned social media will greatly improve your company’s visibility as well.
Guest Post by: Amy Coleman – Amy has carried a briefcase to school since first grade because she wanted to be the boss. She holds an MBA from Wharton and works for a Fortune 500 company where she has her eye on the corner office.
Lots of great nuggets here! Thanks for the great post Amy!