Being
a small business owner comes with a ton of challenges. Sometimes it's trying to get
a clear perspective on how to approach a particular problem your business
faces, while other times it's establishing the niche or goals you want
continue.
So what should entrepreneurs, especially new ones, know when helping their business grow? To find out, we consulted 13 members of the Young Entrepreneur Council and asked what game-changing advice they could share to help business owners. Which of these would work for you?
1. Be clear about your
goals in life.
As
small business owners, it's not uncommon to prioritize your business
other. But you have to put yourself first if you want your business
to succeed in the long run. Otherwise, you might burn out or wake up one day and find
you've built a business that's incompatible with the life you want. Get great
clearly define your one-, five-, and ten-year life goals, then align your business to those
goals.
—Brittany Hodak, keynote speaker
2. Niche first.
Before
you try to target multiple products and different audiences, become an expert in
one offer. At the start of building a business, nestle to create the best product offering with
the greatest value possible. From there you can expand over time. This builds trust
behind your brand and allows you more growth in the future.
—Jared Weitz, United Capital Source Inc.
3. Build your vision.
Every
product, employee hire, and marketing campaign should be rooted in your company
vision. Build a deep sense of what it is and be sure to verify
that every decision you make is aligned. It's tempting to say "yes" to
some opportunities, but if they don't align with your long-term vision,
you'll waste valuable time and resources along the way.
—Matthew Podolsky, Florida Legal Counsel, P.A.
4. Be patient with
yourself.
When
I started my business, I focused so much on growth that I neglected
focusing on improvement. Details were overlooked, systems and processes were not a priority,
and I wondered why I was stagnating. Focus on the foundation, with constant improvement and dedication
to your systems, and small businesses can improve.
—Klyn Elsbury, MK Foundation
5. Know when
to delegate.
Understand
your weakness. The self-assessment allows you to see where you need
faster in your business. Thinking you can do anything better
than everyone else will get you in hot water. Understand how you can grow by
making the right additions to your team and guiding them towards growth.
—Brad Burns, Wayne Contracting
6. Trust your teams.
There
shouldn't leave any room for ego in the way you manage. You have hired people to help you
do more and achieve more. Leave them. Nothing is worse than a small business owner
who refuses to be wrong. Without embracing the fact that you are not an
expert in everything (even your own business!), you will not be successful and
better. Trust your teams and the unique expertise they bring.
—Thomas Smale, FE International
7. Invest in content
marketing.
There is
no substitute for having a great content marketing strategy in place. Its
essential to understanding how to do SEO and use content marketing to rank well
for a search term. This means multiple benefits such as free traffic,
continuous growth, and compound returns from the posts you create. You will
establish authority and spend less on other marketing activities.
—Blair Williams, MemberPress
8. Improve your
social media marketing.
Always
look for ways to improve your social media marketing. There's always a new
website or app popping up, and you never know which one will benefit your
business the most. And the implementation of social media marketing is
always evolving as well. Be sure to keep up with industry trends so you're
always on the cutting edge.
—Andrew Schrage, Money Crashers Personal Finance
9. Reuse your
marketing assets.
Increase
the ROI of your marketing assets by reallocating them. Turn each one into
at least two or three different assets to save time and effort that you can
spend on other things. A blog post can become multiple social media posts
and vice versa. A brochure can turn into a blog post and an infographic. Search
you can use each asset in different ways and reach customers differently.
—Thomas Griffin, OptinMonster
10. Ask for feedback.
When
you are first starting a business, asking for feedback can be terrifying. Instead of
caring what people might say, just ask. Talk to employees, friends, and
even social media connections. Gathering feedback on your business early can
help you make adjustments that change the course of your business.
—Chris Christoff, MonsterInsights
11. Don't neglect the
locals.
If your business has a local revenue market, you should focus on it. People in your community are more likely to invest in your business and become loyal customers if they know you're right around the corner and provide exceptional service. Your establishment on Google My Business and local search guarantees more traffic to your business.
—Jared Atchison, WPForms
