Tips to make a small business a big success

I have spent over eight years managing a publishing business called Showoff Magazine. 

Many times I have been commissioned to grow other businesses and while doing so I observed the traits and practices of various entrepreneurs.  

It’s worth noting that there are common traits that successful businesses share, which I have documented in this article.  Whether you are thinking of starting a business or if you currently own or operate one, use these key factors to measure your company’s performance.

• Brand recognition

No matter how small (or big) you think you are, don’t skip out on branding your business. 

Branding is the act of giving your business a corporate identity. At the very least, you must have a professional logo, original business name and catch phrase (motto).  

This will allow clients, customers, vendors and the world to recognize you among your competitors. Your brand should be placed on all marketing materials. 

You can start with obtaining business cards. 

• Use your business cards

Business cards are usually the first and simplest step that one uses to let the general public know they are open for business. 

They can be purchased at very good prices (try vistaprint.com), so there is no excuse why one should not have them. 

Your business needs to have an abundant supply of them. Make sure that you carry them in your wallet and that your staff uses them while on the job.  

A business card is an important marketing tool that says you are serious, gives others a quick overview of who you are and how to get in touch with you. 

They can be given out at every relevant opportunity. Most often people hear about your business through word of mouth and may approach you at unexpected times. For instance, you could be in the grocery store or at a community event so don’t miss out on a potential sale because you didn’t have a business card on you. 

• Save money for marketing

Money to market a small business can easily be overlooked or thought of as a burdensome expense. However, it need not be this way. Change your attitude towards marketing by asking someone more experienced to show you the benefits. Always set aside funds for a marketing budget. 

The amount of money you put into marketing usually determines how many sales your business brings in over the course of the year.  

Effective marketing is ongoing, not just a one-off thing.  Book an appointment with an experienced graphic designer and ask for brochures, flyers, e-newsletters or other necessary tools to be designed using your company’s branding.  Your marketing materials should look coordinated and professional. Moreover, many business owners find that having a website is also a crucial component of having their products or services seen.

If you are doing business internationally or require clients to pay online then this will be a must-have, so place website production on your priority list.

• Deliver on your promises

What is the aim or mission statement of your business? It is important that you and your staff live by your company’s philosophy each and every day. 

If your business prides itself on giving the best customer service or being number one in a certain supply area, then you will need to fulfill that goal at least 90 per cent of the time. While it may be a challenge to operate at 100 per cent perfection, try to set goals to deliver those promises majority of the time. 

By doing so, your company will maintain a reputation for reliability to current and potential customers. The knock-on effect is that revenue will not fall but rather continue to increase.

• Quality equals loyalty

The best businesses out there are well-known by their good reputation. They pride themselves as being known for that ‘special’ thing or that ‘it’ factor. Do your services or products speak for themselves in a positive or negative way?  

Are you constantly fixing mistakes or accepting returned goods? The old saying goes, ‘you only have one chance to make a good first impression’. Don’t give your business away to a competitor. Consistently provide good quality products or services and you’ll obtain customer loyalty. Customer loyalty, also known as repeat business, will be the financial lifeblood that drives your company. If you are planning to build a long-term business, your aim should be to maintain this type of cash flow. If you do these things you can achieve that.

• Be consistent and available

Treat your business as if it’s a never ending job. Imagine if you had a nine to five job. Wouldn’t you be expected to show up every day, on time and work productively for eight hours? Showing up and getting the work done sounds pretty simple in theory, but it is a habitual act which also takes discipline. 

The same way you would respect an employer’s time, is the same way you should respect your time when it comes to running your business. 

In addition, if your staff notice that you slack off from time to time, or aren’t around when problems arise, how will they perform to the best of their abilities? 

At the end of the day, a business owner is a leader and if there are employees, they need to be led. 

Clients, customers, vendors, those who support your company’s services and products deserve consistent attention and time from you. 

If you have booked appointments with clients or if your business is expected to be open for extended periods, then follow through on your commitments. 

If you have trouble staying focused and self-motivated, being a business owner may not be a wise career choice.

• Take preventative measures

Most small business owners will agree that the downside of owning a business is that when something negative occurs, it’s they who ultimately handles the complaint and put the fire out. Though it’s just one of the roles that come with being ‘the boss’, it’s still very important to put prevention methods in place. When your business starts to grow and employees are hired it will become difficult to oversee their work processes. In reality, things do go wrong under someone else’s watch. In this case, communication is the best line of defence. Employees and customers must be fully educated on your company’s values, products and services. Allocate time out each week to hold staff meetings to discuss how the previous week went and offer advice on how to improve business operations.  Manage expectations by letting your staff know what’s acceptable, possible or what’s not in line with your company’s vision and goals.  Another essential way to manage expectations is to create written marketing/legal materials such as brochures, advertisements and contracts. This will prevent any misunderstandings between staff and customers. Every business should have documentation that shows information such as pricing, deadlines or terms and conditions. n

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