Ready for some tips and tricks from small business owners? Keep reading to learn more.
1️⃣ Focus on revenue-generating tasks
“Put your effort into everything that will make you money (getting more clients and testimonials) and outsource all of the miscellaneous tasks that take away time from making money (accounting, record keeping, etc.).” – u/cwoodsofficial
I think this is a good point: if you're spending too much time on tasks that aren't directly related to revenue, how do you generate the most revenue? You can always hire an outside expert for tasks such as bookkeeping, marketing, and sales. Because you can't be amazing at everything, focus on starting or leading a successful small business. Outsource the rest.
2️⃣ Find a specific audience
“Clear, direct, and consistent focus on a specific, narrow audience is CRITICAL.” – u/CallMeNeil
Creating a product or service that appeals to everyone can be tempting. However, what happens when you cast your net too wide? Your product or service is lost. Niche markets, or subsets of markets, are often discussed among business owners, and how focusing on them can help you succeed. By going this route, you will likely find less competition, gain expertise, and use your resources more efficiently.
3️⃣ Don't be afraid to experiment
“You may instead have to do something slightly different with a view to pivoting to where you ultimately want to be.” – u/jimicus
An ideal scenario is to start with an idea of what you want your business to look like, and then get it to market quickly and easily. Despite what this Reddit user noted, this isn't always the case. In addition, they said you shouldn't be afraid to come up with many ideas and test them out, even if many of them don't work. If you don't brainstorm, you won't be able to find the real gems. It’s okay to experiment until you find what works for you.
4️⃣ Always ask questions
“Rather than ignore it, always ask ‘why?’” – u/jimicus
As another commenter and small business owner above noted, stay curious when other business professionals or mentors offer advice. It may take you a moment to figure out exactly what the person is trying to tell you, but it will be worth your time as you may gain valuable insight into your business. Although you should still use your sound sense of judgment to determine whether the advice applies to you, at least you'll have all the relevant information at your fingertips.
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