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10 Tips For Small Businesses

👤 🕔 March 6, 2014

Do you want your business to be successful? Here are 10 tips that can help you business on it’s way to success.

  1. Make a plan. Do not get too caught up in day-to-day operations that distract you from long-term planning. If you have a business plan, it makes you more adaptable to change. A business plan will force you to think about what you want to achieve and ultimately how you are going to do so. In a lot of cases it is a good idea to get a third party (mentor or consultant) to help structure your ideas into a plan of action.
  2. Delegate. Money is the main concern of any business and this it certainly true for small businesses, but delegation is essential for business growth. As a business owner try not to do everything yourself. If you do you will become your companies bottleneck. Outsource or hire professionals where ever possible will get better and faster results. Leaving you more time to focus on your strengths and planning ahead (Tip 1).
  3. Take charge of your finances. If you are doing your own business accounts using an accounting software, such as Wave Accounting will help you be more efficient and ultimately look more professional .
  4. Assess your companies needs. Do you have the skills your business needs to grow? Whether you need to provide additional training, hire new employees or outsource to professionals, think about how you will fill the gaps.
  5. Start socialising. Any business can benefit from social media. Posting can help you attract and interact with potential clients reaching and wider audience that direct market can not do.
  6. Make sure your website is up to date. Your website reflects your business and what you do. Even though the look of a site is not everything. Making sure your site looks current and not dated coupled with up to date, relevant and informative content is the winning combination. Fashion and styles go out of date quickly don’t think because you spent money updating your site 2 to 3 years ago that is enough. Constant change can be seen as progression
  7. Upgrade your equipment. Having the right tools to do the job will increase productivity. If you have a slow computer, it will increase the time it takes to do simple tasks.
  8. Invest in your business. Reinvest a percentage of your profits back into your business. Whether you outsources work, upgrade your equipment or update your website.  Making the right investments will increase your profits long term
  9. Celebrate success. It is important to celebrate your successes. It is good motivation for you and your team.
  10. Take action. Always assess your progress and revisit your business plan tweak and adapt if necessary. Make sure that there is a clear understanding of what your goals are.