Despite how enticing entrepreneurship can be, the truth is many small business owners struggle a great deal before they see any amount of meaningful success. Finding a niche to operate effectively within takes a great deal of time and effort, with many small businesses (over 20%) failing within the first five years. No matter the statistics, every entrepreneur should chase their dreams and attempt making it within their lifetime. This post will detail a number of the ways that successful small businesses manage to maintain their successful status.
Continue reading for more information related to small-business success:
Consumer Oriented Research Is Imperative
A deeper dive into consumer behavior and the why is what separates successful small businesses from the failures. No consumer will strictly purchase a product because they like the idea of it. Part of this research should also be competitor focused. Specifically, what can their offerings and their success with their customers teach your business? Identify pricing differentials, quality concerns and evaluate various customer testimonials.
Spread The Word Anyway You Know How
Beginning with some organic exposure, spreading the word about your small business is imperative. Even if it’s just within family circles initially, gaining any sort of traction is the first step. Following this, local chamber of commerce resources and advertising opportunities can make a significant difference. The same can be said for supporting or sponsoring local organizations and charities to boost awareness.
Be Customer Service Focused
Customer oriented businesses tend to have more positive reviews, both online and by word of mouth. This means that your organization’s customer service efforts are directly related to the ability to attract new customers. Maintaining good customer service means more positive reviews online as well, which plays a huge role in the way customers view businesses.
Fully Flesh Out An Online Presence
As mentioned above, online presence plays a huge role in the likelihood of success for any small business. Maintaining a professional-looking and user-friendly website can set yourself apart from all other businesses operating in the space. Any website representing your business should have the following attributes at a minimum:
- Your business name and logo
- About us section
- Contact information
- Mission statement
- Testimonials from patrons
Social Media Boost
For smaller businesses that operate more locally, tapping into the most popular social media platforms can provide a great boost to any online presence. Some of the most popular channels even have integrated shopping functions, creating a purchase opportunity that would otherwise be unavailable.
To learn more about the ways that many small businesses continue to find success within their markets, be sure to continue reading on to the infographic coupled alongside this post.
Author Bio: Stephanie Blahut is the Co-Founder and CEO for B2Z Insurance, a small business insurance provider. She has over 20 years of experience in B2B, B2C, and D2C marketing and focuses on all facets of digital and content marketing.
