Simple But Impactful Activities for Success
So much of the advice you read about creating a successful business is about the big things you should be doing, like finding investors and doing extensive market research. And while yes, those are important, you don’t want to neglect the small things that can also help you run your small business more efficiently. Here are some tips, courtesy of Clinton E. Day, MBA.
Keep Learning
Find ways to increase your knowledge in your industry by reading books, blogs, and other resources.
Whether it’s about business, your particular product or service, marketing tips, or all of the above, knowledge is power. Hearing from people who have been where you are and know the landscape can be a great use of your time.
Take advantage of free resources like YouTube videos from experts in the field that can help teach you more about what it is that you want to do.
Make an effort to find a mentor or someone who has done what you want to do, and ask them for advice.
Delegate
Learn how to delegate. It’s not always possible for you as an entrepreneur to do everything yourself, so learn how to delegate responsibilities in the most effective way so that you don’t get stuck doing tasks that could be done by someone else in the company or outsourced entirely.
Delegation is not only about assigning tasks to employees but also about teaching them how they should do their work. The key to successful delegation is to be clear about the task, the deadline, and the expectations. If you are not sure how to delegate a task, try breaking it down into smaller tasks that can be completed by different people based on the person’s skill sets and availability.
Outsourcing is a cost-effective way to reduce your workload. You can save time and money by focusing on your and your staff’s core competencies and giving the rest to freelancers. Outsourcing can let you stay competitive in the market by having professionals who are able to use the latest technologies that you and your team may not be able to do as well.
Reconsider Your Business Structure
Changing your business entity to an LLC comes with a range of advantages. First, it offers more protection for your personal finances as any legal claims or debts against the business will not be attributed to you personally. Secondly, LLCs often enjoy attractive tax benefits that are not available to sole proprietorships or partnerships, such as deductions and credits that can potentially save you money on taxes. Finally, LLCs usually have more flexibility when it comes to reporting requirements and filing procedures. The easiest way to register an LLC is work with a formation service, but read reviews to compare different services before contacting anyone.
Market Creatively
Networking in person can be difficult, but it is worth the effort because it can lead to new customers, employees, partners, and more.
The first step to networking in person is to find a networking event that suits your needs. The type of event you choose will depend on what industry you’re in and what kind of contacts you need. Then prepare yourself with business cards or other promotional items with your company information on them, such as brochures or pamphlets if available. You should also have some questions prepared so that it’s not all about you. And you may find the perfect vendors or mentors there, too, if you take the time to listen instead of just promoting yourself.
You already know the importance of having a strong presence on social media, but besides purchasing ads, try using your social media sites to really get people engaged. For instance, creating your own meme with something that gets people talking or laughing means lots of shares and lots of eyes on your business page. Design memes that people want to share with their own followers.
Create a Scheduling System
Creating a scheduling system for your business can help you stay organized and increase efficiency. An effective scheduling system should be tailored to fit the unique needs of your business and employees, taking into consideration things like their availability, preferences and capabilities. Additionally, it should be easy to use by staff and be flexible enough to adapt to changes in orders, staffing levels or other variables.
An online scheduling maker is an efficient and convenient tool. This may help you streamline administrative tasks, reduce manual errors, and allow customers to book appointments more quickly and easily. Choose a scheduling template and modify it by adding your own logo, photos, and fonts.
When managing and growing your business, it’s easy to miss the trees for the forest, to play on the old adage. In other words, don’t just focus on the forest, the big picture, but notice all the trees that make it up, the practices you may have overlooked that can make a big difference. Take advantage of free resources, delegate, choose the right business structure, market effectively, and develop a scheduling system that works for you.
So much of the advice you read about creating a successful business is about the big things you should be doing, like finding investors and doing extensive market research. And while yes, those are important, you don’t want to neglect the small things that can also help you run your small business more efficiently. Here are some tips, courtesy of Clinton E. Day, MBA.
Article Courtesy of Marissa Perez of businesspop.net.