Whether you have an existing small business or are planning on starting a small business, knowledge is king for preparing yourself for the ups and downs of being a small business owner. One thing to always keep in mind is that no matter what happens, always remain calm and steady. Many people get out of the small business dream at their first obstacle. Be a problem solver and you’ll go far in your new or existing small business.
Knowing your market is essential to any small business. If you are starting a new business, research your area. Knowing the demographics of your area will give you an idea of what your potential customer base will look like. Visit businesses like the one you want to start. Don’t be afraid to ask the owners questions about their business. Most business owners are happy to tell the stories of their start-up.
Be innovative. Something different is what catches everyone’s attention. When building customers, it is always the pleasant experience and memorable moments that keeps them coming back time and again. If you are a shop, restaurant, or a sports bar owner, create an ambiance that is not only tied to what you are presenting to your customer, but different from anyone else. It could be the color scheme you use, the food you offer or even the uniform your employees wear.
Always be professional. No matter what business you are starting or what business you currently run, professionalism goes a long way. Whether you’re meeting one on one with a customer or you’re managing a new business to business deal, your business reputation will go a long way in creating referrals.
Existing customers are important for your business. If you have a problem with one of your customers, do everything in your power to make your customer happy. You never want to lose existing customers when you have the ability to fix the problem and make them smile again.
Reputation is everything. If you have an employee who is saying bad things about your customers or your business, don’t be afraid to lose that employee. When you are face to face with a competitor, always be friendly. “Kill them with kindness” should always be your philosophy. A good attitude towards everyone will not only help you gain respect in your business. It will help you gain respect in your field.