Posted: 14 May 2018
Hey there, entrepreneur. Did you know that 8 out of 10 small businesses will fail within the first 18 months?
That’s a scary, but highly motivating, statistic. You know your business is worthwhile, impactful, and has the ability to thrive; of course, that’s why you’ve invested in manifesting your dream.
20% is better than nothing, and after all, someone’s gotta do it.
If you’re thinking about opening, or already have an established clientele, you’ll find that these tips for small business owners can help anyone at any stage of their career.
Whether you’re a stay-at-home worker or you have a local storefront, there’s always room for improvement. If you’re curious about how you can make your business better, then read on.
5 Tips for Small Business Owners
To avoid being that dreaded 80%, utilize these tips to learn how to better your small business.
1. Be a (Wo)man of Your Word
It’s easy for people to promise things: meetings, phone calls, events, work. Unfortunately, it’s becoming easier and easier to renege on your word. The moment you begin to fulfill all of your promises, you’ll realize the power that being a reliable person provides.
2. Learn from the Mistakes of Others
We don’t have enough time to learn them all ourselves.
Who has been a frontier in your field? Who can you turn to for advice? Utilize the information and the lessons that others have already learned.
Need a check stub maker? Ask around before you commit to one.
Need to make an awesome logo? Ask the professionals.
3. Be Equal Parts Realistic and Risky
Risks are fun. But being realistic is, too. Staying rooted in an honest perspective will help achieve your small business’s goals.
Of all the tips for small business owners, this is the most intuitive. Owning and operating a small business is risky already. Don’t make it riskier by being unrealistic about your reach, your money, and so on.
If your risk-taking pays off, then stick with it. Pave the way for yourself and fellow entrepreneurs. If it’s failing, alter it.
Otherwise known as: Keep It Simple, Stupid.
Now, we’re not calling anyone stupid. We’re just saying that simple is best interpreted by the general public. People like to read things that they can understand and relate to.
It’s hard to do that when everything on your website or About Me is complex and confusing. Keep it to the necessities.
5. Imagine the Worst-Case Scenario
What’s the worst that could happen?
The answer is that it’s not that bad. And even if it is, you’ll be able to get through it. With proper prior planning, you and your business should be able to thrive even in the worst cases.
Now Go Start Your Business
Start with a small idea that means the world to you, something that you feel you can’t do without. Chances are, other people will feel the same. Successful entrepreneurs recommend action, action, and more action.
If your ideas are working, stick with them and let them grow. If they’re not working, change them! Trial and error, rooted in reality, is key to your business’s growth and success.
We’re always open to more ideas. Let us know if you have any more tips for small business owners!