Running a business amidst the uncertainties bedevilling the world economy now can be a hassle. At the early stage in the life of the small business, survival is the best thing. According to Converge hub 2019, over 50% of small businesses fail in their first year.
These statistics are not to discourage you or make you perturbed about your chances of succeeding in your small business. These statistics should spur you to do everything possible to succeed. Small businesses spring up every day and to gain an edge over others you need to know why their businesses fail within their first year.
Here are tips that can help you grow your small business
1. Be Responsive and Agile
As a small business, you have to be up and doing, you have to show eagerness and enthusiasm in the way you relate to your customers. You have to show interest. Responsiveness means you have to respond to unplanned circumstances and incidents in the best way possible. It could be an emergency or business opportunity.
2. Be Consistent
Your potential customers will want to do business with you if you show up consistently. If you make posts on social media, post about your business online and is always available to attend to the needs of your customers, you are consistent. You have to leave your digital footprints online if you’re doing online business, if yours is offline you have to be at your shop or office every workday. Your consistency enhances your reputation and that of your business.
3. Have a seamless payment system
Your customers want to have the best customer experience. You have to ensure that your payment system is one without hitches. You should open a business account for your business to avoid trivial issues affecting your business.
4. Share useful and related content
This is a no-brainer, You don't only need to have a social media account, you need to keep it active with engaging content. Sharing useful and related contents help you become an authority in your field. If you establish yourself as an authority, it will be easy to convince people to do business with you.
5. Occasionally give out freebies
This is a way to keep your business in the minds of your customers. Your customers will gladly announce your business to their friends when they tell them that they won a giveaway on your page. People want freebies, so occasionally throw it in. It can be in form of a discount for some products or giving out recharge cards to people that share your content on Facebook.
Growing your small business is not an easy task and you could do it with the above tips. The goal is to remain in front of your customer and remain relevant. Look at the tips, apply them, know which one works effectively for your business and watch your small business grow.
It is important to pay attention to the approaches that have worked well, while you eliminate the ones that so far have not yielded any fruit. Soon, you will see the positive results you have always hoped for.
