Boss Lady

5 Top tips for starting your own business

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When operating as a small business, there are many challenges you will face. The issue is that the problem is a variety of obstacles you will need to fulfil all the roles any business requires. This means you are sales, and you are also accounts payable, you are the admin department and the workforce all by yourself. This can seem quite overwhelming at first, but with a little planning, it can be made a lot easier. Here are our five top tips for a small business to be successful.

1. Play to your strengths

It’s essential to be aware that although the small business owner has to wear many hats, some will fit better than others. So, it’s crucial to concentrate on what you do best, as that’s what will bring the money in. If you are good at sales, then make sure you get to take the time for you to be doing that. If you are an engineer, then concentrate on the engineering and hire salespeople, if you have the means to do so.

2. Consider an accountant or bookkeeper

I could guess that chances are doing the books, completing accounts, and filing tax returns is not what attracted you to stating your own business unless it’s an accountancy firm that is. Hiring an accountant can free up so much of your time for doing those other things that we mentioned. You can often even save as much as they cost when considering that they may be able to find you ways of saving on tax.

3. Premises

You will need to consider if your business needs premises or not? For some, it’s essential, retail, for example, and others not so much. If you are offering home improvements, it’s unnecessary to have an office or a showroom as you would usually conduct surveys at the customers’ home. You may require somewhere for secure tool storage, but that’s much less expensive than premises you will seldom be working from.

4. Use social media

Promotion is key. No matter how good you are, if no-one has heard of you, then business will be slow. These days a quick way of getting exposure is to have a social media presence. Anyone can set up Facebook, Twitter, and Instagram accounts, and be sharing content and advertising in a matter of minutes. It’s an excellent strategy to make your posts as visual as possible, using images and videos to help them stand out from the crowd.

5. The personal touch

Being a small company, the one significant advantage you have is the personal touch. Your customers will get to know you personally, and you should use this. Make customer service a point of excellence, and you will be rewarded by it. Check up on customers to see if they were happy and if anything could have been improved. This strategy can often result in good online reviews on platforms such as Google and Facebook, and we can’t stress enough how good this is for your reputation.

About Peta McGrath

Peta McGrath is an accomplished marketing and career advisor, specialising in helping women develop their best possible strategies for career and business advancement.

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