It can be hard to keep up with your competitors when you find yourself constantly falling behind. If you’re having small business struggles, it’s time to give your business the boost that it needs.
Small Business Struggles: How to Improve Your Small Biz This Year!
Almost any improvement can make a huge difference in your business and profits. You should never give up on your business if you start to fall behind. All it needs is a little boost – and that can come in many forms. You just need to know where to start.
Want to know more! Keep reading below for some great information and solid tips!
What are the 4 reasons most small businesses fail?
If you’re experiencing small business struggles during these tough times, it might be worth searching for the reasons most small business fail! Don’t become a statistic about failure. Instead, learn about it and course correct!
Sometimes, small businesses fail even when the business owner has done everything right. For example, some small businesses that started before the 2008 recession or 2020 pandemic failed just because they opened at the wrong time.
- a lack of funding or cash,
- an incompetent management team,
- an unfinished or flawed business model,
- and lackluster marketing.
If you don’t want your business to fail, these four gaps need to be covered.
How do I get my small business noticed?
Starting a business is actually fairly easy. You get an LLC, you put up a standard website, and boom, you’re in business. The hardest part of business is getting noticed.
There are a few ways to get your small business noticed, but the main way (currently) is social media!
Any small business, no matter their budget, can utilize social media and get noticed by customers. There are other tips to follow as well, which I’ve included below.
Tips To Improve Your Business & Overcome Small Business Struggles
If you’re experiencing small business financial struggles, I bet you’re just itching to improve your business! So where do you start?
Take a look at the tips below and apply whatever you think will help you. Check them out!
1) Improve Your Leadership
If you’re a team leader, owner, or manager, and your business is struggling, the first place you should consider looking is yourself.
- How much of the business’ problems are something you could personally change?
- Are you having trouble getting everyone on the same page?
- Do people not seem to understand their job?
By being a strong leader, you could better communicate with people on what needs to be done, how, and when.
A good leader understands the people who are working under them and knows what to do when they’re struggling. If you can make sure you understand whether or not your employees are capable of something, it can save you from wasting everyone’s time.
The last thing you need when your business is struggling is for your employees to fall behind trying to do something that they’re not able to.
Reaching your customers is essential for any business. But it’s how you do it that matters the most. Reaching them won’t help at all if the message doesn’t actually connect with their needs.
You need to sell them what you’re offering and make them believe it’s something that they want or could be interested in.
There are a lot of resources revolving around sales intelligence that you can find or invest in to help out your business. These resources can help you connect with your audience and boost sales.
Also, advertisements that fall flat can be a completely wasted investment. This can negatively affect your profits, something that most small businesses can’t afford.
You need a positive ROI on every investment you make, so make sure you’re informed before you start your marketing.
3) Automate Basic Tasks
If your business is struggling, it might be because you’re not automatic your work.
- Do you find yourself always strapped for time?
- Are all of your employees struggling to keep up with all of the daily tasks that they need to do?
That can be stressful. And no one wants to work in a stressful environment on a daily basis.
If you’re ready to get your time back, you need to find a way to ease that stress. There are free and low-cost resources that you can use to help you automate a lot of your processes.
This can help you have more free time to work with. Plus, your employees will be grateful to lower their workload as well.
No one expects you to be the perfect business owner from the start, and you might consider seeking advice to help you get your business going.
It’s impossible to have all of the answers to every question – and you don’t need to when there are people with far more experience out there!
Finding a mentor, business professional, or even business coach that you can afford can completely change how well your business does.
Even if you can’t afford a specialty coach or consultant, there are a lot of free online resources you can use too.
5) Keep Up With Your Customers
If you’ve ever bought something online, you’ve likely seen businesses reaching out via email or text. It’s a process of keeping your customers loyal to your business. And bonus points, there’s no real cost except for a little time updating your CRM, email, or text list.
A great way to keep customers coming back is regular marketing, incentives, and even a loyalty program.
By keeping in regular contact with them and showing them that you appreciate their business, you can entice them to keep coming back.
How can I improve my business knowledge?
Along with the tips above, you may be looking for ways to increase your own business knowledge.
The best place to start is the internet of course!
First, it’s a free resource.
Second, you can look up just about anything you want and find valuable resources from top business websites like Forbes or HubSpot.
You could also reach out to your local chamber of commerce, as well as the U.S. Small Business Administration.
And, if you’re looking for a business mentor but don’t know where to start, SCORE makes it super easy to get set up and on your way to learning.
No matter what, there are a ton of ways to learn or improve your skillset and your business knowledge. Sometimes it just takes a little research.
Small Business Struggles Don’t Have To Last
A lot of small business struggles require simple solutions. But it can seem overwhelming at first to figure out what needs work and what you’re doing well at. These tips can help you see where you’re struggling and how to make a plan to do better.
Are you ready to turn the page on your struggling business? What are you going to do to make a change and start winning again??
AUTHOR Kimberly Studdard
Kim Studdard is a strategy consultant and course launching expert. When she isn't spending time with her daughter and husband, or crying over This Is Us, you'll find her teaching other mompreneurs how to scale their business without scaling their workload.