Have you just recently opened a small business? 

Are you thinking of starting one? 

Fret not! 

Your business can succeed – and it will…if you follow the next 5 steps:

  1. Be adaptable

All things in life change over time. So why shouldn’t your business?

First, accept the need to make a change in your business. Even if you’ve had success doing things a certain way, you must accept that the only way to achieve growth is through change.

Analyze exciting trends in your industry – you might discover some much-needed ways you can improve your business!

  1. Be modest

Yes, you’ve made it this far on your own. But, like everyone, you have both strengths and weaknesses. There is only so much you can do yourself, especially as your business begins to grow and thrive. 

This may require you to hire several employees or to work with different professionals who know how to perform specialized tasks and skills that may be foreign to you. 

You may even want to consider automating some aspects of your business to eliminate a portion of your work or the need to hire as many employees. 

  1. Devise a business plan

To get where you want to go, a plan is a must. Aspects of your business you should consider planning are:

  • Funding – how will you get your business off the ground?
  • Advertising – who is your ideal client and how will they hear about you?
  • Production/Execution – how will you get your product or service to consumers? 
  1. Plan ahead

Plan for growth, but don’t get ahead of yourself. 

Ensure that your business is stable in terms of finances, staff, and workload, before expanding. Once you have the funds to grow and a team that’s willing to work hard and grow with you, you will be ready and motivated to step outside of your comfort zone and thrive.

  1. Put your customers first

Get to know them! What do they want from you? What are their likes? Dislikes? Interests? Finding this information can be as easy as posting a poll to social media, engaging with your followers via groups and comments, or reading your online reviews! Put simply, don’t be afraid to ask for feedback. There is no need to guess what your customers want, just have them tell you. They are more willing to deliver that information than you think.

The more you know, the more you’ll grow!

If any of the above steps appear daunting, we can help! We have worked with dozens of small business owners, helping them to either formulate new business or restructure their current business. If you feel you could benefit from this type of assistance, contact us!