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Tips To Help Your Small Business Thrive - Feb. 8, 2024


Welcome to our Weekly Digest! ๐Ÿš€

๐Ÿ™‡๐Ÿปโ€โ™€๏ธ๐Ÿ“š For today's quick read, we've compiled a list of tips for small business owners! After reading through various* articles, we've made a list of the most recommended tips.

Just starting your business? Or maybe you're wondering how you can improve your small business. Look no further!

Here's a list of tips for you!

โœ… Staying organized.

Nearly all the articles we read had this tip as their top priority.

Investopedia states, "To achieve success as a business owner you first have to be well organized." There are many ways to keep your business organized from working on time management to using productivity apps like likeย Wrikeย orย Asana.

Big Commerce informs that these 3 things will help you stay organized:

  1. Keep accurate records of business finances: Record every transaction into the proper account. Keep copies of all invoices, receipts and payments for bookkeeping and tax purposes.

  2. Set (and keep) deadlines: Stay on top of administrative tasks using project management software like Teamwork!

  3. Plan ahead: Examples include using email marketing automation to follow up with new leads. Or, using Slack, Zoom and Microsoft Teams for quick communication with your team.

โœ… Great customer service.

Kind of a given, right? But it's easy to forget about in the midst of everything.

Trinet does an exceptional job summarizing this section in two sentences. "Great customer service involves much more than satisfactorily closing the deal. Exceptional customer service enhances the overall experience for customers." Showing the customers that they're the priority and your willingness to understand pain points may just set you apart from other businesses!

A small business should be accessible, make it easy for your customers to get in touch with you!

โœ… Keep up with the trends.

Social media seems to rule these days. It's important to keep up with the trends.

"Your business wonโ€™t grow if nobody knows about it, so youโ€™ll need to run at least a few campaigns to get the word out," Shopify declares. Use platforms like LinkedIn, Facebook, Instagram and TikTok to get your business out there! It might be overwhelming to start them all at once, so pick one or two to test out first. Remember, each platform may come with different audiences so be careful about reposting content!

Shopify also notes that staying up to date with the latest marketing trends will help you create promotions that actively engage your target audience!

โœ… Know your competitors.

Whether it was "study", "analyze" or "find", all the articles were clear about KNOWING. YOUR. COMPETITORS.

"To be successful, you can't afford to ignore your competitors. Instead, take the time to study and learn from them," declared Investopedia. How though? Let's look into some questions that can help us learn about our competitors.

Big Commerce offers these open questions:

  • Digital marketing strategy: Observe their website and social media accounts. How do they generate traffic and leads? What do they post on social media? What kind of content do they publish?

  • Target audience: Who is their target audience? Is there any overlap with your customer base?

  • Strengths and weaknesses: Where do they excel? What are their shortcomings? What can you do better?

โœ… Make sure to have a good time.

This may be one of the most important tips.

Running your own business can get stressful and maybe even tiring. Remember to take a breather now and then. We don't want you to burn out! Have fun! This is your business! You're doing an amazing job. Don't forget that.

This was just Part 1 of the complied list! There's more but we didn't want to bore you!

๐Ÿงก Stay tuned for next week's part two of "Tips to Help Your Small Business Thrive"!

*articles we used for this blog: Big Commerce, Shopify, Investopedia, and Trinet.


๐Ÿค™๐Ÿป Get in touch!

Our Bean Counters are experienced bookkeepers who care about your business! Email us at hello@beanlogix.comย to learn more.

All information can be found in the linked* articles. No copyright infringement is intended. BeanLogix does not own nor claim to own the rights to the content shared.


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