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Small business success tips

Running a business can seem like a hard task; however there are many little things you can do to make life a little bit easier on yourself.

1) Write a business plan and stick to it. Your business plan should cover marketing strategies, your business strengths and weaknesses (SWOT Analysis), your break even figure, how many sales you need to make to break even, your goals and targets and much more information about your business. Sticking to this is important because it then allows you to plan ahead and always know what's coming. Once you have worked out how many sales you need to make to break even you must strive to reach or exceed that figure, keeping a diary or journal is useful because then you can see how many sales you have made in say three months, and then see how many sales you need to make in the next three months to be on target to break even. When you have met your targets, update your business plan and set new ones - this keeps you moving in the right direction.

2) Try to find your USP (Unique Selling Point) - what makes you different from the hundreds of other business that sell the same products or services? What do you offer that they can't? What is your main aim? If you don't have something unique then you will struggle unless you focus on customer satisfaction and listening to your potential customers ideas. Having a USP is a great way to market your business because you can offer what others can't, however you should try to find a way to prevent other companies from copying you, because if for example Sony copied you, they would take your sales as they are more well known and have a great reputation.

3) Many people say that cheap marketing doesn't exist, however there are many great ways to advertise that are either completely free or cost a little. Word of mouth is one of the strongest forms of advertising there is, yet it doesn't cost a penny. However it does cost time as you have to keep your previous customers happy and give them a reason to recommend your business. People are more likely to buy from a business that has been recommended by a friend or family member because they believe that they are more likely to get a good service. Other forms of cheap advertising include having your own domain name and website, using an email address that includes your website domain (many people overlook this but it is a great way to promote your domain when you give out your email), Google Adsense and the use of business cards. Many new entrepreneurs


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