Whether you have just opened your doors or have been in business for years, every small business owner is looking for new ways to grow their business and increase profits. Here are some non-traditional (but very valuable) tips to improve your product or service, increase profits, keep your staff happy, and encourage your customers to return time and time again.
Listen To Your Customers
The bread and butter of any business is pretty much one thing—the customers of course! It’s pretty simple: If your client base isn’t happy, they won’t come to your establishment, so you won’t make any money. Small business owners have to be especially receptive to their customers because they don’t have huge marketing teams and ad campaigns to keep the people streaming in. The voice of the customer must be heard in any business situation and gives you valuable feedback on how to improve.
Keep It Simple
Many small business owners make the mistake of trying to do too many things at once. Find your niche; pick one course of action and don’t stray from that path. Businesses that try to do many things at once usually end up doing a mediocre job at fulfilling the customers’ needs. Like the old saying goes, “Jack of all trades, master of none.” You definitely want to be a “master” at your trade to get the most positive customer response. For example: If you are operating, say, a steakhouse, don’t try to add a bunch of pizzas to the menu. Stick to steaks and do them so well that people know your place as the go-to spot for steakhouse fare.
Take Care Of Your Staff
This one is one of the most overlooked components of business success. Treat your employees like gold and they’ll pay you back in kind. Happy employees are more productive, more apt to help you out in a jam, and are better at serving customers. Many business people think that cutting costs and keeping hours to a minimum is the best way to increase profits; they fail to realize that your employees are your business’s greatest asset. Employees are the backbone of any business and they need to be valued and appreciated for their hard work. When you take care of your employees, they will take care of your business.
Give Back To The Community
Everyone loves a small business that is an active part of the community. Oftentimes, different organizations will come around to businesses asking for a donation of goods or services. Say yes! Usually, these are going to be prizes raffled off at a charity event. Depending on your business type, donate a gift certificate, a piece of clothing or an accessory, or a gift basket. Not only is it free advertising, but members of the community will note your generosity which can lead to more business. The donation is a small price to pay for the potential benefits your business will reap.
Get On Social Media
Pretty much everyone has social media these days, so why shouldn’t your business be on there too? Social media can be an invaluable tool to advertise to new customers, keep the public abreast of specials and discounts, and encourage active involvement in your business. If people are engaged with your business online and follow you on social media, you’re very likely to see these new faces in your establishment. Try hosting a giveaway in order to get some attention; customers love free stuff!
Every small business owner knows they have to market their brand and keep tabs on costs and expenses. These are basic business principles and are essential to understand and practice. But there is so much more to it! The tips mentioned above are very important ingredients in the recipe for success. If you listen to your staff and customer base, put yourself out there on the internet, get involved in the community, and carve out your niche you will have all the tools you’ll need to maintain a successful business for years to come.