Michael Taylor – Founder Taylortown SEO
Many individuals throughout this country are deciding to start their own small businesses, like I did almost three years ago. For myself, the decision was made both out of economic necessity and a strong desire to tailor my work environment to a flexible schedule that allowed me to work from home. My working career had been in technology sales with reasonable success in many roles; but in the economic downturn, I found it increasingly harder to get interviews for anything other than entry level sales jobs. Two of my short term jobs were in the internet marketing industry and while I very much enjoyed marketing these services, in both roles I was unable to meet the defined sales objectives and lost my job. So sad.
For many out of desperation comes critical self evaluation and a commitment to succeed or “find a way” against all odds. Luckily, I made the choice to develop additional skill sets and choose a self employment path in the web marketing industry that allows me to help small businesses like mine succeed. I believed then and have since proven to myself; that my obstacles selling for these large internet marketing agencies were not from my sales effort, but more from ineffective products and the wildly inflated rates they charged for outdated marketing solutions. If I could provide moderately priced marketing solutions that were effective; I knew in my heart that I could find and retain clients.
Fast forward three years later, and my premise has been proven true over and over, with me enjoying every minute of this entrepreneurial ride. Let me share with you ten tips for starting or growing your small business which I’ve learned from my own experience or have seen my successful clients incorporate into their core values. With so many small businesses failing in the beginning stages, we all benefit by sharing our knowledge and supporting our small businesses, so here we go with my ten tips for starting or growing your small business.
1. Be sure to have a passion for your new business. That way the endless hours you spend building your business are enjoyable, not drudgery. Your customers will sense your enthusiasm and energy and instinctively want to get involved in your success. The enthusiasm is contagious!
2. Commit to be an expert in your business because your customers expect that from you. Fill any knowledge gaps on your own time and at your own expense. Take a calculated risk when accepting an assignment that stretches your present capabilities in order to grow. For me, my hosting company and the inexpensive seminars I’ve attended have been invaluable in learning key webmaster and online marketing concepts.
3. Adopt technologies that allow you to deliver your product/service at higher quality and more efficiently. Understand fully the benefit and your costs when adopting a technology and never overpay. Technology comes with a cost ( time and money) so evaluate your options very carefully. Today there are SAS ( Software As A Solution) packages for just about every aspect of running most businesses which level the playing field between small and large competitors.
4. Here’s a per peeve; Cleanliness If you choose a business where customers come to your premise for your product/service and it involves personal service or involves their body, I want you to be absolutely fanatical about quality and cleanliness. These businesses include medical offices, restaurants, salons, grocery stores, accommodations, vitamin supplements etc. Nobody wants to spend their money in an unclean or unpleasant environment unless they are buying used tires or picking up their lawnmower.
5. Have an understanding of your key “numbers” in your business; your financial targets, fixed and variable costs, productivity by day, week and month and market rates for your product or service. Chart your progress in meeting financial metrics and understand your seasonal peaks and valleys to better manage your cash flow.
6. If at all possible, have some access to credit or funding. Small businesses live and die by cash flow and prudent use of borrowed money will allow you to invest in your growth and carry you through the slow periods.
7. Be prepared to promote your business to any person or group who could possibly contribute to your success. These include social media outlets, friends and acquaintances, previous employers and also people that you meet in everyday life. Prepare a three minute, concise “elevator speech” where you articulate what your business does and the benefits you provide and share tht information with whomever you meet.
8. If at all possible, operate on a “cash and carry” or “paid in advance” basis. The time you spend chasing past due balances is much better spent taking care of current customers. You don’t have the time and resources to chase debts, so it’s better to turn those customers away who resist paying you promptly when the service is provided.
9. Find ancillary business opportunities that allow you to provide a complete solution and be prepared to change course if needed. My business started in one direction and in order to provide a complete solution, I developed expertise in additional areas; web design and email marketing. Today, the additional skills I developed account for a majority of my company’s revenue and provide my clients with a more effective, complete marketing solution.
10. Finally, develop a strategic marketing plan that presents your business information to prospective customers who are looking for your products and service. Enlist the help of an experienced marketing professional who can advise you on the proper ways to utilize signage, online marketing, email and other marketing avenues to reach those potential customers who you’ve not yet encountered on a one-to-one basis. Be wary of those who simply recommend based on the services they sell or refuse to share impartial advice. The adage of “seeing every problem as a nail when your only tool is a hammer” is my perspective of many of these “marketing professionals”
I wish you success in everything you do. If I can be any help with your online marketing strategy or if you have questions about managing your small business call me at (321) 230-3197. For more information on my marketing company go to www.taylortownseo.com
