Running a small business can be a tough slog before it hits the ground running. We’ve generated a list of the best 20 small business tips—from budgeting and hiring to marketing and networking.
Top 20 Tips For Small Business Owners
Use social media to connect with your networks and customers. Keeping your online business profiles up to speed is crucial to giving a face to your work.
Create a neat logo. You can design your own or even use tools like Fiverr to outsource a cool logo design for a low cost. Keep the psychology of color in mind, too.
Marketing – Know what you want your business’s footprint to look like, and execute it through marketing. This might entail publishing excellent content (such as useful videos), running online contests, forming industry partnerships, or speaking at events using your small business expertise.
Enlist the help of a staffing agency when hiring is overwhelming. This is one of the most useful tips for small business owners; don’t bear the full burden of keeping your business staffed. Staffing agencies like TruPath help you fill roles in a timely manner with quality candidates.
Hire from your existing connections. This will speed up the hiring process and bring on people who already know about your business—and believe in it.
Keep networking—always. Even if it’s with a business that’s considered a competitor, you never know what you might learn or where you might end up from a new connection.
Pursue the “So what?” in your work. What kind of income or sales are you generating? What are your customers saying? Why are you in business, and what do you want to improve upon moving forward? Always think about the “So what?” element.
Be smart with budgeting. Some of the best tips for small business owners stem from budgeting, because it’s often ignored and can lead to a downturn in profits. Know your risks, overestimate what your expenses might be, keep an eye on your sales cycle, and plan for major purchases beforehand.
Personalize your services. Gestures such as handwritten thank you notes (and excellent customer service in general) are essential tips for small business owners.
Keep mentors close. As an entrepreneur, you should always be reaching out to mentors and peers. We can’t always achieve greatness by flying solo.
Be strategic but flexible if things don’t go according to plan. Don’t fly by the seat of your pants all the time. Have a strategy, but don’t remain too rigid with it. Allow for leeway.
Separate business from personal finances. When you’re running a small business, don’t get too caught up in putting your own funds into it.
Ask for help right when you need it. Whether through a mentor or another small business leader, you should never feel compelled to keep quiet if you need help.
When hiring, solicit feedback often and reciprocate. Know what your team thinks of the business system and your management style. Encouraging open conversation about how things could improve is an important way to move your business forward.
Get out of your comfort zone. Whether it’s through planning new strategies, starting up a new activity to boost teamwork or making a big shift in how you operate the business, don’t be afraid to try new things.
Include the team in the hiring process. They can help evaluate new hires for their skills as well as if they’re a good fit for the team.
Use sample projects to gauge employee qualifications. Starting a potential new hire off with a project that closely mirrors the work that he or she would actually be executing is one of the best tips for small businesses when it comes to hiring.
Don’t be afraid to fire someone. If there’s a negativity or lack of productivity that an employee consistently brings to the table, don’t hesitate to take action. Your business deserves great employees!
Constantly crave new knowledge. Keep reading up on new things or things that could drive your business forward.
Be proactive to show leadership. To truly deliver the image of a leader, you have to be proactive. Follow through on what you said you’d do.
What tips for small businesses would you add to this list? Let us know! For all your staffing needs, contact TruPath.
As a trusted recruitment source for more than a decade, TruPath has the industry knowledge and a proven model to help our partners feel comfortable in their search for a candidate.
Through our TruProcess, we are able to consistently deliver exceptional candidates that help organizations continue down successful paths. Contact TruPath today to tell us about your staffing needs.