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5 Top Tips for Small Business Owners

5 Top Tips for Small Business Owners

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This is a piece aimed at any small business owners out there. A few of my friends have their own start-ups and have done well for themselves but I know for a fact that they’ve had their trials and tribulations so I decided to reach out to them for some tips for this post and hopefully you’ll find it helpful and insightful if you’re planning on going it alone in the short term. So, without further ado, let’s get stuck into the post!

FOCUS, FOCUS, FOCUS

This is something that a lot of first time entrepreneurs fall-down on. Many feel the need to jump at every opportunity that they come across and sometimes, these can be a little bit dodgy in terms of what they appear to be on the surface, some may say, wolves in sheep’s clothing. Don’t get side tracked. Trying to juggle multiple things at once will spread you too thin and this will reduce your effectiveness and productivity.

If you focus, you’ll be able to get one thing done really well as opposed to trying to do ten different things poorly. If you’re 6, 8, 12 months into a project and another comes along that you feel you need to jump on, this may indicate more about the original project that you’ve been working on than anything else. Focus is important both before and after selecting your projects and also during them. Focus ensures that you’ll select the right thing at the start, it ensures that you’ll put your all into something and see it through to the end.

Say it Quickly, or Not at All

This is something that can have massive benefits through your solopreneur life. From a chance encounter with an investor to a curious customer asking a tonne of questions, always be ready to pitch your business. State your mission, service and goals in a clear and concise manner and try to fit your pitch to the person. If you’re talking to someone who doesn’t understand what you do but is interested in what you do, then try and put things into Lehmann’s terms for them.

You need to perfect your elevator pitch, which is essentially what this is. You need to make someone care about what you do. Explain what your company can do, what you can offer and make the person you’re talking to think that the best solution to their problem is your company.

Act Like a Start-Up

This little nugget is short and sweet but is important. It all comes down to being who you are, quite simply. Forget about fancy offices, big expense accounts and flash cars. Your wallet is the single most important thing to your company so it’s vital that you practice and perfect the art of being frugal. Try to maintain as low overheads as possible and manage your cash flow effectively. This will help you in the long run and you’ll benefit more from it further down the line compared to now.

There’s No Free Money

This is important, no one will just up and invest in you off the bat. If you need sums of capital to get off the ground, go back to the drawing board and re-calculate everything. Look for a starting point instead of an end point and scale down the pricey expenditures. Simplify the idea until it’s manageable and look for ways to prove your business model on a shoestring budget and it’s vital to demonstrate your worth before seeking investment. This way, if your business model is successful, your chances of raising capital from potential investors will improve dramatically.

Look Toward Lead Generation

This is something that will help almost any business, without doubt. Lead generation is something that can help you to create a pipeline of potential customers and there’s tonnes and tonnes of different lead generation strategies out there that are cost effective and fairly simple to implement, whether you’re looking for finance leads, sales leads or marketing leads there’s tonnes out there that you should be looking to gather and what better way to generate more customers than lead generation that won’t break the bank.

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Catherine
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Catherine

Blogger & Mother at Career Zine
Avid blogger and career path expert who loves to help people fulfil their dreams.Currently raising my family and walking my dog when i'm not on this site.
Catherine
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