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MONEY

4 Things To Do To Boost Your Small Business

Because we all need a little push sometimes

BY Joan Thatiah

May 04, 2021, 10:26 AM

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So you quashed all your fears, jumped out of your safety net, and started that business you’ve always talked about. Or maybe Covid-19 knocked you off your feet, you lost your job and you gathered up the pieces and set up a small business.

We are still in the throes of the pandemic and your business isn’t doing as well as you’d hoped and you are wondering, what now? Here a few tips to jolt your business back to life.

Watch The Competition

There’s this quote that makes its way around the internet that says something to the effect that a woman looking to prosper and thrive should not talk about the things she’s working on until they’re done. I say blah.

Business growth is not a solo project. You can’t lock yourself up in a room, assume that you know everything and successfully grow a business. You will need to learn from those who’ve walked the path ahead of you. Even better, you will need to watch the competition not to copy what they’re doing but to learn from their mistakes and do better.

Splash Your Handles

Running a business requires you to be smart and enduring. It also requires you to be a little shameless. Yap. If your business is to grow, then you will need to drop all that ‘I am humble’ business and begin flaunting the things your business is doing right.

Since we have nowhere to go these days and we all hang out on social media, push your social media handles every chance you get.

Build Customer Relationships

This has to be the oldest trick in the building businesses books but it still works like a charm. The simplest form of this is remembering names and faces. It may take a little effort but the kinship your customers feel towards your business will be worth it.

Customizing your services and products to meet your clients’ specific needs is the other sure bet. If you have a small business selling t-shirts, for instance, instead of splashing on them your favorite quotes, try listening to what your customers want.

Sometimes listening to your customers’ needs is as easy as setting up a delivery service.

Watch The Books

The only way to tell whether your business is thriving or failing is to watch the books. I know, I know, Maths isn’t your portion. But like it or hate it, financial illiteracy and business don’t mix. If you are going to stay afloat, you’ll learn a thing or two about balancing books.

Build Partnerships

They say walk alone and you will go fast but walk with others and you will go further. If ever there was a motto for the business world, this would be it.
If your business is struggling a little bit, identify a complementary business in your region, work together with them and see how much better things will get.
 
Good luck conquering your corner of the world.