Only three out of every ten small businesses survive for longer than a decade. How can you make sure that yours makes the cut? Read on for the most important things that new small business owners must remember!
1. Have Great Customer Service
This factor can make or break your small business. If customers start talking about your business and complaining about how rude the employees are, your company is headed for trouble. But if customers are always treated with courtesy, patience, and respect, they will be far more likely to return—and to recommend your company to even more people.
2. Learn From Your Mistakes
Every entrepreneur makes mistakes! The key is to make adjustments as you go along. If customers keep not receiving your shipments, try a different shipping company. If customers keep receiving the wrong items, look into the packaging department to see where the weak link is, and personally call all the affected customers. Admitting to your mistake and promising to make amends shows strong customer service and true dedication, and your customers will be more likely to forgive the mix-up.
3. Build a Team
No entrepreneur can handle everything. Build a passionate team that shares your vision and is just as dedicated to the company as you are. Immerse your team in your business goals by educating them and keeping them in the loop.
4. Utilize Social Media
The age of print and broadcast TV is waning, and the digital age is taking over. Nearly all small business advertising occurs on some sort of digital platform now, and what better way to promote your business than through free platforms like social media?
5. Focus on Quality, not Quantity
Your ultimate goal shouldn’t be to introduce as many new products as possible every year. If you develop a quality product or service that only your business can provide, the success will follow. Don’t spread yourself too thin.
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