Your business has been through a lot since you first came up with the plan for it. You’ve done a lot to turn it into the selling enterprise it is today, and you know you’ve still got a long way to go. Even if you’re still in the initial stages of setting things up, you’ve done an extraordinarily good job so far!
But now we’re looking at 2020. It’s a big year for a variety of reasons, and for you, it could be one of the biggest you’ve ever seen so far. And there’s a lot more work that needs to be done to make sure you’re ringing in the new year after this one with a glass of champagne in hand!
‘New Year, New You’? How about ‘New Year, New Business Strategy’?
Because if you’re a business owner, and you want to see some new and real results in the year ahead, you’re going to need to make some changes! Don’t worry, it’s not as hard to determine what needs to change, nor how to come up with a plan to do so. Setting goals is all a part of running a business, after all, and you’ve been at this game for a while now!
So, without further ado, here are some pointers for you to start with. You’re the one who knows your business inside and out, better than anyone else, so you should be the one to spearhead the changes you want to see.
Think About Reducing Costs
Reducing costs is the name of the game in the business world. Of course, being in profit is the number one thing when it comes to doing business – if you struggle to month after month, for a whole host of reasons, it’s a good sign that your business idea is not viable. But if you’ve been witnessing a good period of stability, and all of your numbers are in the green, it’s a good indicator that you’re ready to take things a step further.
So now’s your chance to cut down on your costs a little bit. Find out where you’re leaking money, and what you can do to plug the hole. Maybe you’re a little trigger happy on the overstocking button? Maybe you’re losing profits by taking on too much at once, and not letting yourself focus? Both can be common concerns when you’re a small business, trying to please your consumers and stay on top of your game at all times.
Which brings us onto this next point: maybe you need to bring another person on board, to share the workload? Upfront that sounds like another cost, but in truth, it can save you a lot more time and money than trying to stick with the current, lonely setup you have.
Attend a Trade Fair
Trade fairs can do a lot for businesses like yours. You’re a relatively new business, and you’re a small operation, and that means you need a platform to ensure your voice is heard. How can you do just that? Attend a trade fair, whether it’s near you or hundreds of miles away.
You’re there to make an impression, and a lasting one at that. You’re there to rub along with all kinds of guests, whether they be customers, investors, or fellow business owners like you. It’s a place to build connections, and present your best self, and to show off the potential you bring to the market around you. Wouldn’t that be a great way to set some expectations, and the goals to match them?
And trade fairs and shows are very interactive places, much more than the online world or setting up shop on a local street near you. The big and small names alike collect here, so you can be face to face, and you can come up with all kinds of ways to get these people involved. Not only does this leave a memory in attendees’ heads, but it also ensures you have tangible points of contact to fall back on – business cards, social media links, etc.
Find a trade fair easily online or through a few of your network contacts. One that’s coming up relatively soon is the gift fair 2020, which might just be key to ensuring you’re setting up right for January and beyond.
Bring Someone Else on Board
As we briefly mentioned above, it might just be time to bring someone else on board your enterprise. You’ve got a lot to be getting on with, and you’ve got some profit margins to maximise on, and that means it’s time to hire someone to help you out. Whether this is a PA position or someone who can man the front desk or stock the shelves for you is no matter.
Hiring another person to work for you is a big deal, and it’s going to take a bit of time and resources out of your bank. But, if you feel it is the right time to hire an employee, whether it’s your first or second or third, it’s a good way to mark your expansion progress. And that’s definitely a goal for the year ahead!
Because when you have more people on the payroll, it means you’re creating jobs in the community, and that makes you a very valuable commodity to the local setting around you. After all, if you’re trying to cement your place as a business on an international scale, it’s always best to start with the people at home.
Streamline Your Customer Service
Your customer service is the number one thing the people who shop with you are going to remember. The more you do for them, the better the impression you’re going to leave, and that’s definitely something to focus on for the year ahead. Your customers are the reason your business exists in the first place, so it only makes sense to put them at the top of your list to ring in the new year with.
You want to go the extra mile for your customers, and ensure they come back every single time they could ever need to. You want to be present in their mind whenever they think of a product that’s similar to yours. After all, you only provide the best, don’t you? So, your customer service desk and manner might need a few tweaks here and there.
That’s not to say you’re doing something wrong – indeed, you could be impressing people just fine so far. But in the long run, and in an oversaturated business world as a whole, some things can always be just a little bit better. And your customer manners, and the time you put in for them, is one of these elements. Set yourself apart from the crowd by giving your customers a little extra; a good conversation, a free sample, a loyalty program, etc. The list goes on and on!
Ready to Make a Change for the Better?
Business is always changing and growing. As a small business owner, you see that around you every single day. Make sure you jump on the bandwagon.
Your business has accomplished a lot so far, and so have you. But there are some things in your company that could be changed or innovated for the better. Ensure you keep them in mind as you go back to work and servicing the public; you’ve got work to do, and now’s your chance to come up with the best plans for it.
Photo credit: Photo by Crazy nana on Unsplash