My Top Small Business Tips

money light bulbWhether you are just starting or have been in business a long time, these specific areas are worth your consideration and energy.

Write down your goals – Know why you are doing what you are doing and what your goals are. Write it down. Talk about it to friends and family until it is clear to you.

Share your story – People prefer to buy off someone they feel they have a connection with. Let them know who you are, what inspires you, what you are doing, and how you do it. Your story is unique, so don’t be afraid to tell it.

Know your market – This is crucial. Get a pen now and ask yourself – who is my target audience, how old are they, what is their budget, what can I do for them, what need can I fulfill.  Then advertise in those areas.

Grow without debt – This may mean growing slowly, and reinvesting the profit from sales back in to the business.  Factoring is also a great option to help increase cash flow without occurring debt.  Selling your receivables allows for immediate cash so you can purchase new equipment, advertise, or cover payroll.  Not having debt is certainly less stressful.

Word of Mouth – It’s an oldie but a goodie. In today’s day and age, word of mouth means social media. When you send a thank you email after a purchase/service ask them to share their experience on your Facebook page .If they are happy with your product/service, they will be happy to share your details with friends and family.

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