So many people before venturing into the business world, they think of ways they can grow and also make more income. That’s just one of the many reasons people setup businesses. No matter how you started or where you started, the sole purpose is to see your business grow in serving the purpose of its creation.
The question of HOW CAN A SMALL BUSINESS BECOME SUCCESSFUL is a very simple one to answer in action but just few persons always turn to get it right. Let’s start by identifying some of the reasons small businesses fall.
1. LACK OF GOOD MANAGEMENT
The lack of a good manager will ruin all that you’ve built. Before setting to start up a business, you should be ready to stay focus and manage it with care. Most of us are so careless with our goals and we don’t learn from our mistakes and that of others.
2. LACK OF CAPITAL
Most people venture into business without really getting prepared. They sometimes do not go or start with the money at hand, they go as far as wanting to set up big when the capital is small and that’s a big problem to the business. When there is no capital, a business can not grow and you rarely generate any income. Prepare yourself, get a business plan, make sure the capital at hand is enough to start up your business, then forge ahead.
3. LACK OF CONSISTENCY
Most people want to see their business rise as soon as they start and once that is not happening, their zeal dies down. They no longer put efforts, they give up to soon just because they are not meeting their target they way they envisioned. In business, consistency is key. Without consistency, the big businesses that inspire you will not be as big as they are. You have to learn to love your business whether it’s doing well or not. Show up everyday no matter how hard it may be. Don’t talk bad about the business, learn customer service, acquire more skills and knowledge about the business, learn from others. Business growth lies in the power to show up everyday, whether rainy or sunny.
4. LACK OF COMMUNICATION SKILLS
I know many people avoid this part of the deal. Communication skill is one of the most needed skills in every field of work. If you learn to communicate with customers, colleagues, and the general public, you’ve gain the power of becoming big. A lot of business fail because the brain behind it can not simply communicate. Acquire the communication skill.
5. ZERO BRANDING
Small business start with zero branding. Branding is a other key factor in a business growth. There is power in branding that brings in exposure and speaks volume to your brand. Money should always be set aside for branding cause a good brand will generate income for your business.
HOW CAN A SMALL BUSINESS GROW?
Small businesses are eligible to growth if they understand what they are into. Any business seeking for growth most first look deep to know what they are not doing right. Negligence has made so many business fail because the brains behind it ignored little details that could have save them.
Below are some of the ways in which small business can grow.
1. TAKE YOUR BUSINESS SERIOUSLY
Sometimes we set up a business because at that moment we have so much money and don’t know what to do other than staring a business and so we don’t take the business seriously. Truth is, you must learn to treasure your business. Take it seriously and put in all efforts to see it grow to the next stage.
2. AVOID THE MISTAKE OF COPY & PASTE
In business copy and paste mostly work for those who are creative. You can’t lie in business cause you will be caught. Make your business unique, avoid copying people’s products and giving credit to yourself for its production. If you must copy & paste then you must learn the art of copy & paste. Don’t lure consumers to purchase products that will not solve their problem cause you will not only be ruining your business but also, you will be ruining your personality.
3. NEVER STOP LEARNING ABOUT YOUR BUSINESS
Your knows are never enough when it comes to business. Nobody is really a 100% business expert but people are striving to become one. They learn on a daily, read books watch videos, read business related articles, listen to podcasts. You can choose to learn on a daily or stay and think you know it all. Business requires you to go out and learn then come back and improve.
4. NEVER STOP ADVERTISING YOUR BUSINESS
Don’t let people forget you are into business. Always remind people that you are there and you’ve improved so they can patronise you. Do it in a manner that doesn’t make you desperate. Remember there are people watching your every move. So avoid certain things that will make people hate your personality and also hate your business.
5. DO NOT INHERIT OTHER PEOPLE’S ENEMIES AND MIND WHAT YOU SAY AND WHAT YOU POST
I know many people will ask how does this relate to the growth of their business. Truth is, not every comment section or post should you as a business person be found reacting to. There are people are things you shouldn’t expose. You don’t know who is a potential big client and who is taking notes of all that you do so you need to mind so many things. Avoid media beefing, avoid posting certain things on your social media pages. You can become better, don’t drag your person to your business cause you will only be inviting stagnation.
There are other little things small business owners do that will either lift their business or bring it down. All in all, learn to create meaningful relationships.