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3 Ways to Keep Your Small Business Up and Running

The statistics for the success of small businesses are not encouraging. According to the U.S. Small Business Association, only two-thirds of new small businesses survive at least two years, and just 44 percent survive at least four years. The following are a few tips for not only helping your small business survive, but thrive in these difficult economic times:

  1. Commit yourself to the mindset of “failure is not an option”. If you aren’t 100% through and through committed to the success of your business, you are going to fail. It may not be failure in the conventional sense of the term, but you may make detrimental mistakes along the way or not reach your highest potential. Keeping an optimistic and forward thinking mindset is the first and most important way in which you can help your business stay on the right track. If you keep your mental state in the right place from the beginning, you’ll be prepared for the day when the bills begin to pile up and your customers start to dwindle. Keep your mind on the right track and you won’t be tempted to throw in the towel, but rather keep going day by day.
  2. The next thing to keep in mind is that sacrifice is going to be a big part of owning your own business. Recognize that a certain amount of personal (and financial) sacrifice is going to need to be made along the way in order to achieve your business dreams. Ask any entrepreneur what the biggest part of starting a business entails and they’ll most likely tell you that sacrifice is a big part of it. By realizing this early on, you’ll be prepared for the sacrifices that stand ahead of you and you’ll be able to face them head on and build a successful company in because of them. Success in business comes at a price.
  3. Maintain a very close eye on your inventory. Next to your employees, inventory is typically a small company’s biggest asset. The way you manage your inventory can make or break your business. Knowing the intimate details of your business’ day-to-day operations as far as selling to customers and purchasing from suppliers is essential to keeping your business in the black, rather than crashing in the red. Utilize an inventory management software to get a thorough report on a daily basis of your company’s inventory activity.

Establish Your Online Presence To Take Your Business To Another Level – Guaranteed!

Which business are you involved in? Is it a salon or a barber shop? Are you having a pharmacy or a drug shop? Is it a restaurant or a coffee shop? Are you a motivational speaker or a trainer? A civil engineer or a property dealer? Whichever business you are involved in, it’s high time you established your online presence to take your business to another level. If you have never thought of having a website for your business, think about it now.

Why should you establish your online presence? Why do you have to get your business on the internet? I have a strong conviction that in this era of information, every business should have a website. Practically your website will be easier to remember than even your telephone number and postal address. Besides, your telephone number and other contacts can easily be obtained from your website. Do you see that a website is a better form of advertising?

A website keeps a very good record of the information you want to share with your potential and existing customers. Your website acts as a store for the information, which can easily be retrieved by anyone in any part of the world in just moments. It can also remain on the internet for generations and generations. It does not fade. Do you see any benefit in that?

When you establish your online presence, you will be able to widen your customer base. You will sell your own products as well as affiliate products, using your website, which is more profitable than just selling one product. You will be able to pick orders online. Assuming you are running a salon, your customers will be able to book online. They will be able to browse your website for different hair styles they like. This will help you to provide customer satisfaction as your customers will find it convenient to do business with you.

Online presence can help you to establish a strong customer support system. Taking the example of the salon as your business, you will be in position to communicate easily to your customers about new hair products, new fashions, specials and promotions. You will be able to educate them on the best ways to treat their hair through articles. Your customers will find all that information and all those tips in one place on your website, at their convenient time and without engaging you physically to waste your valuable time. Besides, you will build a strong relationship with them.

Ability to expose your expertise and win customers’ trust is another benefit you will get when you establish your online presence. People always want to deal with those who are experts. The challenge for you will then be to present yourself as an expert through the quality of information you give to your customers on your website. Your fame and popularity will largely depend on this and consequently, you will attract a lot of customers.

In modern times, it’s important to complement your conventional way of doing business with online presence to survive the stiff competition, to avoid extinction and to grow your business. The internet came to stay and it’s the way to go if you want to continue surviving in business. More and more people are getting connected the world over. The onus is on you to take your business to another level by having a website for it. You will then share from the whole world of opportunities the internet opened for us.

Did you know that people do not want to be sold? And that you will be far well positioned when you create a reason for them to buy from you by writing articles and providing advice in your area of expertise? This can easily be done if you establish your online presence by having a website. Building trust and credibility with your audience is very important in building a successful business.

As I wind up, I would like to remind you that for you to take your business to another level, consider having a website. The internet has opened for us all the opportunities. Should you be left behind? I see no reason why you too don’t take advantage of this wonderful invention to grow your business and to succeed in life. The ball is in your hands. Think about it!