7 Things Successful Small Business Owners Do

If you’re stuck wondering how to be a successful small business owner, know this: running a small business often simply means making good use of successful small business ideas. Successful small business owners face many ups and downs throughout their work. They know that small business ideas cannot turn out successful unless they use the proper approach and strategies.

If you want to be one of the few successful small business owners, remember that having a good strategy is crucial. Without the right strategy and a proper approach, you are not likely to achieve your goal.

Some small business owners manage to overcome their everyday challenges, while others seem to give up after a while. So, let’s find out what successful small business owners do differently from the unsuccessful ones. Let’s turn their experience into your success through your small business ideas.

1. MAKE ANNUAL REVISIONS OF YOUR BUSINESS PLAN AND BUDGET

Every business goes through changes every now and then, including your small business. For this reason, your business plan and budget should be somewhat flexible to bear such changes along with your business goals. Without revising your business plan and budget, you shouldn’t expect your business to flourish and expand.

The flexibility of your business plan will help you avoid and overcome the eventual unpleasant surprises on the market. Also, such flexibility will give you some time to adjust to certain changes you may experience on your way.

Every business experiences both success and failure points each year. In order to detect and estimate these points, you should revise your budget and business plan every year. While revising, you should check if you are still going in the right direction. If not, you may need to make some changes and adjustments to achieve better results in the upcoming period.

Successful small business owners don’t hesitate to reallocate funds, if that is what it takes to achieve success. In order to increase profits, after they conduct a business revision, smart business owners define and implement the necessary changes immediately.

2. UPDATE YOUR OFFER AND ADD VALUE TO IT

People change, as do their needs and habits. As soon as you notice that you aren’t selling as much as you used to sell before, it is time to make changes. If people aren’t purchasing what you currently have to offer, that’s a clear hint that something needs to be done.

A simple price cut may be the first thing that comes to your mind. As much as lower prices may seem more appealing to your customers, they also point to a devaluation of what you offer. Devaluation of your products or services is never a good thing, so try doing just the opposite – add value to your offers.

The best way to update and add value to your products and services is by developing new offers. If possible, try to offer something completely new to your customers. You could offer product bundles, training programs and workshops, and so on.

3. DARE TO BE DIFFERENT

Most successful small business owners believe in daring to be different. They know their target consumers. Trying to target everyone and anyone as a consumer will get you nowhere fast. Instead of trying to make products for the masses, focus on a clearly targeted community and grow with it. Once you target your consumers, it is easy to understand their needs.

Understanding your consumers is the secret to a successful business. When you know their needs, you can modify your products and services in order to satisfy them. Satisfied consumers will not only become your regulars, but they will also spread the word about what you offer. This may become the best marketing strategy for your business.

Spreading the word about your products or services is called a referral marketing strategy. It’s been proven that most of the faster growing small businesses turn to this kind of marketing rather than relying on traditional advertising.

4. KNOW YOUR COMPETITION

Successful small business owners know their competition. They know that keeping an eye on the competitors and understanding their policy and pricing is crucial to the business. It is wise to consider your direct competitors in your area, as well as indirect competitors.

A direct competitor offers the same primary services to the same target group as you, and they are easy to follow on the market. However, an indirect competitor company offers the same or similar products as a segment of a wider product or service offering.

In some cases, the indirect competitor may offer a product that is an applicable substitute for the original product. Successful small business owners know how to position their company against the indirect competitors. They take both types of competing companies seriously and they account for them in their annual business plan.

5. HIRE THE RIGHT PEOPLE

Even though hiring the right people for your business sounds obvious, it can be a really tough job for small business owners. Also, not hiring the right people could be a huge downfall for a small company. People who don’t share the concept of your business approach and goals are not the type of people you want to engage in your business.

Candidates who don’t have the right temperament, skills, or talent for the job position that you offer can be too pricey for your company. Having the right people in the right job positions can make your company outstanding. Exceptional companies recruit exceptional people.

6. ACCEPT TECHNOLOGY CHANGES

Technology changes on a regular basis nowadays. Successful business owners are very well aware of that, so they change accordingly. Doing things the way they were done years ago will not provide the same success nowadays.

Accepting technological improvements can help your company become more effective and efficient. Keep yourself informed about the latest in new technology, and the improved solutions it brings. Choose the most appropriate ones for your business and adopt them. Your customers will be grateful and you’ll experience great benefits.

7. TRUST YOUR INTUITION

If you believe your intuition has been serving you well so far, listen to your inner voice carefully. Your instincts can lead you a long way. If you still feel strongly about something, regardless of the lack of facts or data – act on it. What seems right for other businesses doesn’t necessarily mean that it will work for you as well.

Relying on intuition is often the first step out of your comfort zone, and the first step towards becoming a leading company on the market. While you watch your business grow and spread, remember that having faith in yourself and the business you are running is crucial. Being aware of your inner voice can lead you to making business decisions with more confidence and a greater success rate.

Getting More Leads For Your Small Business

When you have started a small business, one of the worst mistakes that someone could make is by not having enough leads out there so that they can get the right kind of customers shopping with them. It’s really hard for some people to get exactly the right kind of audience interested in what a small business might be providing. This is no longer an issue when you really start focusing on generation of the best leads that you can get.

You are not a Scam

When website business burst onto the scene, everyone was really excited about it. Now people are a touch more leery because of all the scams, bogus products and unreliable services that have become almost commonplace. With some expertise and research, you will learn how to set yourself apart from other companies who have fallen into the pit of scams and who simply have a fraudulent reputation because they weren’t smart enough to use their brains that would help them avoid fraudulent activities. You will also learn how to have people understand what it is that you are selling or offering, so that they see your company for what it really is and not for what makes you stand still in a sea of scam artists already.

Professional Lead Generation

When you get your hands on the most powerful lead generator tool out in the market today, it will teach you exactly what you need to know about making new contacts, building trust and having people truly understand and recommend you to others. You want happy customers and this would be the first step in doing just that. Word of mouth is just as important now as it was when industry started long ago. Getting proper leads into the door means that you can truly have people who will like your product or service and they will tell their family and friends about it. By this, you will have not only word of mouth business, but also repeat business that is absolutely needed for a good company.

Focused One on One Attention

When you start having a clear picture of where you want your business to go, then you will be able to focus on one on one attention that each customer deserves to have. You will be able to get yourself that laser focus, so that you can really tend to each customer on their own levels and with a style that will truly depicts that you are listening to them and want to improve their experience with your company. This is not just another bogus scam, this is an investment in the future of your small business and generating leads to help you succeed.

Small Business Needs Massive Traffic: Getting Leads for Your Home-Based Business

There are many people, looking to generate more income in today’s market who are turning to a home-based or small online business in order to reach their desired level of success. More and more people are finding that this is the ideal solution to getting the income they need in a market where making a suitable income in a traditional job setting is harder than ever. This has lead to a whole new generation of entrepreneurs and ones who are helping to change the way today’s job market operates entirely.

However for the entrepreneurs of these small businesses; it is important that they know what to do to help not only get their company off the group but to get their small business to find the growth and success they are looking for. If you are one of these individuals you will find that even with a small business on your hands, even the smaller businesses need massive traffic. This is important in order to find success and in order to make sure they are getting enough visitors to their website so that some of these visitors will actually have a legitimate need for the products and services being offered.

It is important that customers, leads or prospects are able to find the website or the central hub for your small business in order for you, the entrepreneur to make money. The great news is for small businesses to get massive traffic, many times a lot of upfront money is actually not required.There are a number of companies that will help you set up a business and will help you with the most important part of that company; generating traffic and getting business leads that will lead to income.

For the many people interested in earning money from their own business who have heard that they can ‘make money in their sleep’ this is how they will be able to do it. When you turn to a professional company that will help not only in establishing your home based company but helping you drive traffic to that website so that you can find success, you have a much better chance of earning the type of income that you are looking for.

There are all different types of ways to generate sustainable traffic to your website between search engine marketing, affiliate programs, pay-per-click and more; all of which can be overwhelming for any small business owner to navigate on their own. This is why turning to the help of a professional who will work to get that traffic needed from a proven system is always the smart decision for those looking to take their small business to the next level.

10 Most Important Factors for Small Business SEO

The online space is changing constantly and every day there is a new product, platform or idea being created to attract and distract business owners. Whilst writing this article there could be a new product being launched that renders this article out of date and so rather than look at the shiny new things available online this article will focus on the fundamentals of online success for a small business owner.

  1. Clear Project Aims – What do you want to achieve online? Are you looking for brand awareness, direct sales, lead generation or is your web site simply a supporting act for your more traditional offline activity? Setting out clearly defined goals will lead to the second key area for online activity which is keyword selection.
  2. Keyword Selection – Once you have identified your project aims you can set about the task of creating a keyword map. The aim here is to identify keywords or phrases that people who are searching, browsing or even fumbling their way online would use to find you. An example of this might be “Cheap Car Insurance” might be a phrase suitable for generating direct sales whereas “Insurance Companies” might be more brand awareness. Google’s own keyword tool is a really useful free offering for identifying good phrases with regular search volumes.
  3. Traffic – Once you have created a keyword map you need to identify the best place to generate traffic. Search engines like Google are usually the best place to start but are you looking for a Pay per Click campaign through the likes of Google Adwords? This is quick and easy to achieve but very often far too expensive for most small to medium sized businesses. Are you looking for organic traffic from the natural listings? This typically needs a good Small business SEO specialist to help but tends to deliver more quality and sustainable traffic. Could social media be more suited to your product i.e. Facebook, Twitter, Linked-in or the host of social bookmarking sites like Delicious or Digg? What about the power of video which is becoming ever more important online and traffic can be gained from the video streaming platforms like You Tube, Daily Motion or Metacafe and also direct from the first page of Google.
  4. Traffic Quality – One key factor when deciding where to get your traffic is the quality and quantity you need. There is a fine line between quality and volume – too much attention to the quality and you may not generate enough visitors to convert, too much attention to volume and you may waste lots of money generating leads that do not convert or you cannot cope with. Concentrate on your highest profit margin phrases first and build from there.
  5. Traffic Behaviour – Once you get visitors to your web site they need to stay in the first instance, get to where they need to be quickly and efficiently and once there convert into a lead or sale. If you have a high bounce rate it could be that people are searching for one thing and arriving at a page that says something different. If someone is searching for “red shoes” make sure they arrive at the page within your site that sells red shoes not a page that sells “green track suits” or your home page that talks about your business in general. If someone is searching for ‘sports wear” by all means send them to your home page or a category page that says Sports Wear. Can the user navigate the site easily without needing a crash course in code writing!! Is your site clunky or slow to load if so change it customers will get board, it is a fact that searchers are spending less time on each page they visit and bounce rates as a whole are increasing indicating that today’s searcher is less prepared to dig for what they want and are looking for it to be served to them quickly.
  6. Traffic Conversion – Once visitors are on your site and have been able to navigate or have landed on the correct page you need mechanisms to help them convert. If you have a shopping cart this is straight forward you want them to buy something however if they don’t what next? How can you grab their details so that you can market to them again? It is essential to have multiple reasons for a searcher to leave their details and often less is more here. Rather than giving away every piece of information at your disposal reduce it slightly and get the searcher to ask for it. Give them a snippet of a newsletter or white paper and get them to ask fro the rest (this way you generate a lead), show them a video and ask them do they want more? (another way to generate a lead). Early stage researchers may only want to leave an email address in order to receive a newsletter perhaps whereas a searcher who is ready to buy might leave lots of information to receive full product specifications or a price list?
  7. Traffic Retention – Most small business owners have one chance to convert traffic into leads or sales and that is usually the first time a potential customer visits the site. Many blue chips and larger web site real estate work really hard to create a web site that is appealing enough for visitors to return therefore giving them multiple opportunities to convert traffic to sales. Small business owners however usually do not have the time, resource or subject matter to create a site that engages visitors over and over again with the possible exception of e-commerce sites. This doesn’t mean that small business owners shouldn’t try by introducing videos, industry news updates, company news updates, blog posts, twitter posts, weekly offers or even competitions in order to give visitors a reason to return.
  8. Traffic Profiling – Most businesses will now have some kind of traffic analysis software (often Google Analytics) however few small businesses are conversant with all there functions. With Google analytics for example it is possible to set up targets and goals to track the performance of traffic throughout the site. Traffic profiling takes this a stage further by separating traffic and leads into predetermined categories from early stage researchers to general enquirers and the holy grail of hot leads who are ready to buy now.
  9. Lead Management – Once a lead has been captured it is essential that business owners can store and manage these leads effectively. This ranges from creating categories for leads, compiling a history, prospect system to manage calls and recalls and some kind of filtering system to facilitate target marketing and re-marketing. Even if your site is an e-commerce site it is proven that less than 5% of people who visit your site for the first time will buy something and so it is essential to have a lead management programme to facilitate the other 95%
  10. Re-Marketing – It has long been proven in the world of offline marketing that it takes between 5-7 contacts on average to turn a prospect into a top quality lead or sale and this is no different online. On average small to medium sized business owners tend to contact their prospects only 2-3 times and many only make one contact. This is one major area where a small business owner can truly maximise their ROI when it comes to online marketing by having the capacity to simply and regularly contact their prospect base.