- In everything you do, keep your eye on how it will impact customer service.
- Flexibility allows you to make improvements on the go.
- You aren’t expected to know everything as a business owner. Take advantage of mentorships.
There are few things as exciting as starting your own business venture. It’s you who decides on the direction of the business. And you write the script and execute the plan. However, no one can be expected to know everything when they’re first starting out. These seven tips are designed to help you feel confident as you move forward.
1. Get organized
Most business owners are busy, busy, busy. And all that busyness can easily lead to disorganization. A receipt for inventory here, and a letter from a vendor there. It can all get to be too much. The weight of disorganization hits when you can’t find a document you need or you walk into your office and don’t know where to start organizing.
Put a day aside to come up with a system for organization and to file things where you know you can find them. Then, every day, take time to make sure everything is where it needs to be.
While you’re at it, teach at least one or two other people where everything can be located. That way, if you’re ever away, someone else can find what they need to keep the business humming along.
Here’s the thing about being organized: It’s liable to keep your customers happy. Let’s say you own a small clothing store and a regular customer comes to you, asking if you can order a specific item in her sister’s size. Being organized means not having to dig through your records to figure out which vendor sells that particular item. Because you keep all of that information in one place, you can easily find the information you need.
You save yourself stress while also providing excellent customer service. In addition, it makes bookkeeping much easier.
2. Be flexible
Even if you’ve been in business for years, flexibility allows you to adjust when changes need to be made.
Let’s say you own an online store selling handmade, uniquely designed cloth diapers. A large retailer moves into the space and undercuts your prices. Flexibility allows you to:
- Decide if you want to cut your prices to compete, or
- Personalize your services in a way that sets you apart from the competition
3. Keep learning
As much as that cranky uncle at the family reunion may disagree, no one is born knowing everything. Again, as long as you may have been in business for yourself, there’s always something to learn if you’re willing to listen.
Network with other business owners to stay atop new trends. Get matched up with a Small Business Administration mentor. Accept feedback from employees on the front line. In other words, stay open to learning as you go. Not only will it keep you sharp, but it will keep your business feeling fresh.
4. Keep it personal
In all you do, customer service is key. Complaints and concerns should never be shrugged off (this is particularly important to teach employees). If a customer has a complaint, deal with it immediately and with patience. Work until you can find a satisfactory solution, if possible.
We all know that some people can’t be satisfied. But that doesn’t mean you shouldn’t try. At the end of the day, people know when you care and that you’re trying to make things right.
5. Keep up with your competition
Take a look at successful competitors to learn what they do that draws customers. And keep your ear to the ground for news of things they do that drive customers away. Look, it’s not cheating. It’s figuring out how to position yourself higher in the pecking order. Here are a few things to examine:
- Are you competing for the same customers? If so, what can you do to make your business more attractive to those customers? For example, would offering a quarterly discount to your most faithful customers keep them coming through your doors (virtual or otherwise)?
- How’s your competitor’s online presence? Are they posting across all types of social media? Is their website darn near perfect? Compare it to your online presence. Is there anything you could improve to keep up with the Joneses?
- Imagine yourself not as a business owner but as a customer. Is there anything about your competitor’s business that would draw you to them? If so, you know it’s time to make tweaks to your own business.
6. Build a team you’re proud of
When it’s time to hire, the people you surround yourself with are vital to your success. Take the time to get to know what applicants have to offer and conduct a gut check to determine how easy it’s likely to be to work with this person. It’s undoubtedly more difficult to hire today than it once was, but that doesn’t mean that you need to accept anyone who applies.
Before offering someone a job, ask yourself how happy you would be to have that person represent you or your business.
7. Put money away
Recessions are a normal part of the economic cycle, and it’s not a matter of whether the U.S. will suffer another recession, it’s a matter of when. The best way to prepare this year (or any other year) is to put money away in a rainy day fund. Whether you keep it in your business account or some other liquid account, these are the funds that will see you through during down months and ensure you’re still open when business is booming again.
There’s a unique difference between working for someone else and working for yourself. Everything is up to you, including how you move forward in 2023.
