It seems as if times are hard for an SMB owner regardless of the general state of the economy. Small businesses battle risks, budget cuts and uncertainty much more often than large businesses. This could also be considered a plus as you would already know how to swim in uncharted waters, as opposed to someone facing this situation for the first time. In that respect, take a look at some ways to stay on top of your game in a crisis.
All about appearances
Do you know how in politics, regardless of what scandal may happen, it is important to keep appearances? The situation is similar in industry. Whether there is a financial crisis or you are losing clients, you need to do your best to present your company in the best light possible. This is why your UI and UX should be your first focus. Depending on how big your company is, you would do your own design or hire someone to do it. There are great options when it comes to web design in Houston. Either way, this task is not to be taken lightly. Your website, more precisely, your home page is the first thing each potential customer sees in the context of your business. Your task is to leave a great first impression. Therefore, you should use your resources to make that home page attractive enough for people to want to explore the website. Hence, your whole UI needs to be peachy. It is your window for getting new customers while maintaining old ones, too.
Customer focus
In the world of AI driven technology and business, be the one to nurture personalized approach in your business model. Every business needs something that sets them apart from the competition and your thing could be customers. This means that you need to find a way to convey that message to all your customers, current or future. Of course, the best way to show where you stand is by doing. Therefore, start implementing some good practices when it comes to customers. Be very approachable and try to take interest in each of your customer’s wishes. Have your employees be accommodating and write non-generic responses to inquiries. Once a purchase is made, make sure to write a personalized thank you note. Keep track of customer profiles, so you can make personalized recommendations based on previous purchases. Award loyalty, give discounts or gifts for customers that made a certain number of purchases.
Control groups are important
A great way to save money is to spend money on smart solutions. One of these smart solutions definitely is hiring a test or control group. This may seem excessive at first, but it pays out in the long run. This way you can test any improvement you wish to implement in your business model. Imagine spending a huge portion of your yearly budget to implement a feature which later proves to be hated by most of your clients. This is every entrepreneur’s nightmare. Luckily, there is a way to stop it. However, gathering a good control group is quite a challenging task and, in order for it to be efficient, it needs to be done perfectly. You need to choose adequate representatives of your target audience to make sure you have a good statistical sample for your test. If a test is done with the wrong crowd, the results would be meaningless to you and your business. It is a huge effort and you should hire experts to choose the members of the test group for you, but once you manage to get the right group, it will be the ace in your sleeve for any business decision you wish to make in the future.
Good employees are invaluable
When it comes to small business owners, one of the greatest mistakes entrepreneurs make is doing everything on their own. This is inevitable in the beginning, of course. However, as time goes by, your business grows and the number of your employees also grows, it is only natural that obligations multiply and the work scope is absolutely unbearable for a single person. Business owners usually give minor tasks to their staff, while maintaining all the high responsibility work. This is a fast track to burnout and you need to do everything in your power to avoid it. Of course you would give smaller tasks to people that are just starting work at your company, but as they prove themselves, you should give them more serious tasks to do and keep track of their work. We all know that it is hard to let go of control, but it is something every business owner must face, sooner or later. In this case, sooner is better as you will avoid wrecking your mental and emotional state. Instead, do it gradually and on time and you will realize you surrounded yourself with competent and trustworthy people who can handle all sorts of tasks. These people are your greatest assets and you need to be the one that makes them such from their first day onwards.
Take time to get inspired
This may sound a bit cringy to many, but working too hard will lead you to boxed-in thinking and a loss of ideas. The job of a business owner is also to be a thought leader of its company. As we all know, inspiration strikes when you least expect it and it cannot be planned. However, getting inspired takes various activities and exposing yourself to different scenarios and activities. Sitting in your office 24/7 will definitely not do the trick. So, take walks through the woods, listen to music, watch movies, read books and travel. Go out and get new experiences. This broadens the mind and stimulates innovation. Always have that in mind, your ideas are what drives your business further.
In the end, being an entrepreneur means dealing with challenges all the time. You will never be at rest, which is the worst and the best trait of the job description. On one hand, it will keep you on your toes at all times and you will hardly ever be bored. On the other hand, you will have to deal with various issues and many sleepless nights.
