(Newswire.net — November 15, 2019) — Every business aims to excel in the industry and place itself at the forefront of the global marketplace. In this competitive business realm, emerging as a unique name among your target audience and market becomes difficult to accomplish. From managing the accounts to looking after the marketing processes, there are plenty of things that need to be monitored in order to make sure everything falls into place.
While for a well established corporate, it is not that daunting to retain their impression, managing the small business is more difficult as they have to create a credible identity and further brush it up. There are many extensive tasks that a small business entrepreneur has to accomplish in order to steer the company towards productivity.
How Hard Small Business Entrepreneurs Work?
When we look at the surface, there are many upsides of owning a business. From working at your own pace, being your own boss, having your dedicated team, and many more significant perks. But the reality is less handsome than it seems. A small business owner has to work hard in order to get the required results. They are juggling with multiple tasks at a time that makes their job even more exhausting. If you look up at the small business statistics, you’d be surprised to know how hard it is an owner.
A survey found that small business entrepreneurs work twice as much as their own employees for the betterment of their company.
The above stat is quite scary to read, as business owners have always been seen as the person decked up professionally seated in comfort in his/her cushioned chair. But, little do the people know the hard work they put in to strengthen their company. In another business survey, it was found that 33% of small business owners tend to work more than 50 hours/week, and 25% claimed that they had worked around 60 hours/week as well.
Small business owners work more because they are under constant pressure; they need to meet deadlines, encourage employees, bring in productivity, and enhance their revenue graph. They have a lot in their hands at a time that makes their job the toughest. Unlike the well established corporate houses, small businesses are not equipped with abundant resources to harness their potentials. So, small business owners have to put in those extra efforts to bring the business to the optimal level of productivity within the given resources. Let’s take a look at the struggles of a small business owner to get things done the right way.
Stress Becomes A Companion
When you decide to become a small business owner, you need to be ready for all the stress and headaches that follow your job profile. You cannot possibly take rest or even have a personal life because all your time has to be dedicated to your business. 62% of small business owners confessed that the stress of ownership is worse than anyone can imagine.
Find The Right Solution To Every Problem
No matter what, the end responsibility of making things right falls on the shoulders of the owner. From finding a reliable digital marketing agency to framing the sales strategy, a small business owner cannot leave the important decisions to its employees. They need to remain vigilant about the business proceedings, detect the issues at the earliest, and find adequate solutions for the same.
Hire The Right Talents
Apart from the business owners, business employees are one of the significant parts of the company that helps in bringing productivity. It becomes an imperative task of a small business owner to locate skilled employees who can appropriately meet the company’s requirements and steer the business towards productivity. They need to filter out candidates accurately in order to find the right talents that can be hired into the business for the company’s best interest.
Brainstorm innovative Ideas Regularly
What makes small businesses unique from others is the innovative ideas they come up with. It is essential to source something unique in order to stand apart from the crowd. It is not necessary to go by the trend; a business owner must find his/her own unique way to compete with their peers. The business realm is becoming competitive with changing market scenario. Hence, it becomes essential for a business owner to brainstorm with new ideas constantly. Generating new ideas and objectives for the business is also necessary to keep the business updated and take it close to the optimal level of productivity.
Why is Instant Growth Important For Small Businesses?
It is quite evident that small businesses have to tread that extra mile in order to start realizing the benefits of great revenue. Small business owners must expedite their growth to meet their end goals and extend their potentials in the market. Growth hacking has become an important criterion for business owners to showcase the A game in the industry.
Starting and owning a small business might seem like a monumental challenge, but perhaps you can find the better way around by finding the right way to go about it. For instance, following the growth hacking tips is one effective way. With a new year around its corner, it’s time to revamp your growth tactics and bring in some innovative changes. If you are keen to accelerate the growth of your business as a small business owner and relish the benefits of rapid growth, then take a look at the below 10 growth hacking tips for small businesses in 2020.
1. Automate As Much As Possible
It’s not what you achieve; it’s always how easily you achieve it. The ideal way to ensure that your small business works at a high level of productivity by minimizing the time consumed is by implementing automated software. It is important to automate your business proceedings as much as possible in order to realize optimal productivity. Automating is the most critical aspect of growth hacking that has positively brought changes in many mall businesses worldwide. You must adopt software that can best help in streamlining your tasks and saving your time. For instance, you must include CRM (customer relationship management) to handle your customer experience. CRM helps in automating the task by creating tasks, assigning work, replying to customers, and every other thing that can make things easier for you. Just like CRM, you must think about other automated software that can bring in high productivity.
2. Don’t Be Afraid To Invest
A small business cannot be successful without taking ample risks. Investment is one of the imperative elements that contribute to small business success. It’s only in rare cases that a small business succeeds without any investment. Never be afraid of making an investment for the betterment of the company. It’s the small investments that create a big difference in the business proceedings. There are plenty of areas where you must focus as a small business owner and direct investment towards these areas. Some of the are mentioned below:-
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-Investment in technology
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-Running social media campaigns
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-Hiring skilled employees
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-Obtaining legal documents and agreements
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-Acquiring a physical location
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-Joining hands with third part assistants
Cash flow management is another important component of business success. When you invest in your business, it is essential to maintain the cash flow. You can also take a small business loan to compensate for the cash flow related hindrances.
3. Track Buyer Intent And Engagement
When you are managing a small business, each and every customer means the world to you, and their engagements with your company create a significant difference in your business. With the help of CRM and other automated software, you can track the engagements of your customers and determine their purchase intent. CRM helps in determining the website visit, online events attended by your customer, email they opened, social media views, etc. All this information works as insights to create a perfect customer engagement strategy that can bring in more traffic and sales to your business. The more engagement from your customer, the more sales-ready your business will be. The ideal way to achieve such goals is to establish an automated lead measuring mechanism that efficiently tracks your customer engagement and shows real-time results.
4. Shift Your Focus To Content Marketing
Digital marketing has been changing the business real with its ubiquitous benefits. It feels like yesterday, when print advertising was considered a major marketing tactic, and now they have been smoothly replaced by efficient digital marketing tactics. One of the most productive digital marketing tools is content marketing that helps in promoting the business via educating and engaging the customers. Today, the customers in the digital era want to learn more before making their purchase decision. Content marketing is the marketing practice to generate quality and relevant content that resolves the queries of customers and provides them with innovative reasons to incline towards your brand.
A growing number of small business owners are investing in content marketing to harness their marketing strategies with efficiency and relevancy. Once your prospective clients start showing interest in your content and begin engaging with your brand, that’s when you start realizing the utmost perks of content marketing. One of the effective content marketing strategies for success is starting a blog. Customers find it engaging, entertaining, and informative to read blogs of the brands. It creates a sense of credibility towards the brand. You must start your own blog and include information that is relevant for your brand instead of content that promotes your brand name.
5. Prioritize Customer Experience
If you are looking to sustain your small business in this ever-evolving marketplace, it is important to always prioritize customer experience and customer engagement. Customer experience has become the sauce for success, and it has significantly replaced the product price, offers, and other imperative factors. If your customers are satisfied with your brand and showing interest in your products and services, it becomes your responsibility to retain and continuously enhance their experience. Customer experience will, in return, provide you with a great avenue towards success. Hence, it is important to always prioritize your customers first and work towards enhancing your business strategies to satisfy your clients.
6. Also, Focus on Employee Satisfaction
Just like ensuring the satisfaction level of your customers, it is also important to check whether your employees are getting a safer and friendlier environment to work. Employees are the driving force of the business, and they help in steering your business towards productivity. Hence it is important to ensure their satisfaction as well. You have to keep your employees motivated and encouraged so that they can be creative and innovative when it comes to making important decisions about the company. To further ensure their satisfaction, you can organize employee appreciation sessions where you can reward the employees for their best performance.
7. Don’t Forget To Tap into Social Media
Another unavoidable ingredient of digital marketing is social media, without which you cannot simply imagine the business realm. A majority of online customers are now on social media, which gives you ample opportunity to harness social media platforms. Using social media constantly for small business’ success is one of the effective growth hacking tips that you can learn today. There are different stages of using social media for business promotion. For instance, If you are taking Facebook, you need to first create a brand page for your company. Create a community where customers can share their helpful insights for you to grow as a company.
8. Mobile optimization is a Must
A maximum number of online customers use their smartphones to interact with the brands, visit websites, and show their purchase intent. Hence, it is important to optimize your website and blog and make it mobile-friendly. There are plenty of perks of having a mobile friendly site. If your customers can view your website on their mobile devices without any hassle, it will eventually contribute to their enhanced customer experience. This way, you can make sure that your customers are retained in your business and continue to bring more sales. Mobile optimization is also important to drive in new traffic and convert them into loyal clients.
9. Bring in Industry Influencers
Yet another potent form of digital marketing that has been bringing radical changes in the business performance is influencers’ marketing. Influencers are those personalities in the specific industry that have a considerable fan following and significantly influence your target audience. They promote brands to their followers. Taking word of mouth, customers tend to rely on their preference and incline towards the brand. You need to identify the best influencers for your brand and approach them to partner with you in order to promote your products and services. There’s nothing more efficient and productive than promoting your brand from a customer itself who has a much wider approach to your target audience as a whole.
10. Keep Measuring Your Results
It’s imperative to follow all the growth hacking tips for better productivity in the business. Along with implementing ideas, it is also essential to keep measuring your results and gauging the effects on your business. Measuring results becomes an important step when you are at the early stages of your small business, and you cannot afford to get anything wrong. If you are using CRM and other automated software, you need to analyze the CRM reports and metrics to make the best decision about further strategies. You need to monitor your Facebook ad campaign and customize it accordingly constantly. In a nutshell, you should never stop measuring your results as it provides you with the insights to improve in the future.
Managing a small business is not as easy as it may seem. As a small business owner, you need to always keep your brains open and keep working for the betterment of the company. There are plenty of factors that need to be considered in order to make the small business as productive as possible.
With the changing market scenario, small businesses have to keep revising their tactics and tricks to grow and advance in the industry. As they have to work a tad bit harder than the rest of the businesses, it is essential to learn some efficient tactics for rapid growth.
The above mentioned were 10 most innovative growth hacks for small businesses that you can adopt to flourish in the industry in the coming years.
Let’s welcome 2020 with zest, zeal, and innovative ways to advance in the business realm.
Author Bio:
Co-Founder at GoogleSpider. Shreya completed her journalism from one of the top J-schools in India. She is in Marketing and Advertising Industry for the last 5 years. With in-depth knowledge in Content Creation and Content Marketing she is currently helping Businesses to grow their revenue and online presence