Feb 03, 2011
Regardless of whether you offer a niche product, you need to have a wide audience reach in order to thrive. Choose as large a market as possible or see if you can offer additional products or services to widen your reach.
When you’re starting a business there is no blueprint that will guarantee success. However, there are some common sense tips that entrepreneurs can incorporate into their everyday business operations that could help propel their small business toward success.
Here are the top 5 tips we’ve found to help the entrepreneur achieve business success:
1. Cast your net to a wide audience: Regardless of whether you offer a niche product, you need to have a wide audience reach in order to thrive. Choose as large a market as possible or see if you can offer additional products or services to widen your reach.
2. It’s all about sales: You might not think of yourself as a sales person, but in truth every entrepreneur is a sales person. You might make a great product or offer an amazing service but if you aren’t out there “selling” it, no one will know about it! Concentrate on marketing, ie selling, as well as developing your products.
3. Have a business plan in place: Your company may not need a formal business plan in place but you do need a roadmap to gauge what success will mean for your venture. Map out items such as: who your clients are, what services will you offer, at what price will you offer them, by what metrics will you measure your success. A business plan will guide you toward your success. Remember, if you need to borrow capital, you will need to have a business plan available.
4. Take a team approach:
Even if you are a sole proprietor, you still need a support team behind you. You have your expertise in the products and services you offer. Have a support team in place to take care of the aspects of your business outside your realm of experience, like accounting or public relations
5. Focus your advertising dollars:
Don’t flood the market with newspaper ads if you aren’t certain if your demographic even reads the paper. Have you thought of what your on hold message is? If you haven’t, you should. If clients are calling you, let them hear a message that draws them in and gives them info about who you are and what you do. If your marketing budget is tight, consider low-cost social media
platforms to spread the word.
Focus your efforts and spend time networking and spreading the word about your business and success is sure to follow.