The best way to improve your small business is to start one, right? Not necessarily. While starting your own business can give you incredible freedom and fulfillment, it can also lead to overworking yourself, losing money, and not having the time you need to enjoy life outside of work. Fortunately, there are lots of other ways to find improvement in your business without taking on all the risks that come with starting from scratch. Read on to learn more about how to improve your small business using these 10 best business ideas to get started!
1) Outsource
In order to improve your business, you may want to consider outsourcing parts of it. For example, if you run a landscaping company, you can pay a florist to create custom bouquets for your clients rather than designing them yourself. If you're in retail and need goods delivered from Asia, find someone who specializes in importing and use them rather than struggling with customs forms and shipping costs. The idea is that by hiring out services or skills you don't have (and won't develop), you can save time and money without having to sacrifice quality.
2) Use social media for customer service
In today’s day and age, customers are looking for answers faster than ever. They expect businesses to respond immediately, even if it’s just with a simple apology that they aren’t able to get back right away. The best thing you can do is provide up-to-date information on your company Facebook page so that customers know when you’ll be available again. Don’t wait until a customer comments on your business page or calls in, check your messages regularly so that you can answer any questions as soon as possible. And when you update status updates, don’t forget to also post them on Twitter and Instagram!
3) Invest in your domain name
Businesses spend, on average, $1,895 per year on domain names. You don’t have to be that expensive! There are many low-cost domain name sites online. For example: Namecheap charges just $10 for a .com and $18 for a .org (one of our favorites). Or you can go with Hover ($12-$15 per year) or GoDaddy ($14-$20 per year). Each site has pros and cons, so do your research first.
4) Hire quality writers/videographers
In your first few years, it's often best to do business with people you know and trust. If your personal network doesn't yield anyone with appropriate skills, try looking on freelance sites like Upwork or Freelancer for people who can write or create visual content. It's also important that these individuals are honest and personable--it will be easier for them to make a connection with your clients. This is probably one of the more difficult tasks in starting a business, but try doing some personal favors or taking on a small project outside of work hours as an incentive to get someone interested in working with you.
5) Write for other blogs
The most successful small businesses aren’t always so great at promoting themselves; if you don’t promote your products or services, it’s unlikely anyone will ever find out about them. If you want to improve your business, it helps (at least a little) to think outside of yourself. One thing that really improves business is trading up. This is an old term used in marketing circles that refers to being able to get one good (e.g., clients) by giving away another good (e.g., price). To do that, you have to market yourself on other people's blogs—ideally ones with similar audiences as yours—and share their content in return.
6) Invest in digital tools
The ability to make and receive payments, manage inventory, and create invoices is no longer a luxury; it’s a necessity. There are several good options for small business owners, but one of our favorites is Square because of its ease of use and low price point. Square offers an app that you can download on your mobile device, which will replace your card reader. Plus, you can use it for free until you begin processing $1 million in transactions per year—then fees start at 2.75% per swipe or 3.5% if you pay monthly or annually instead of every 30 days. The fees are waived if your company does $3 million in volume annually; otherwise they max out at $250 per month for any amount processed below that mark.
7) Hire more people
If you have a small business, chances are that you are either on your own or doing most of your business by yourself. To improve your business, consider hiring more people and using their expertise. For example, if you’re in construction, hire someone who knows how to draft plans and blueprints. If you’re a general contractor who is remodeling homes, hire an interior designer. If you’re working in real estate and buying property for resale, find someone who is an excellent negotiator. The list goes on - but one thing's for sure: You'll make more money if you outsource some tasks!
8) Take care of yourself (physical and mental health)
Starting a business can be a very emotional and stressful experience. Understandably, you might find yourself neglecting your own health. I’ve been there (well, not quite yet)... but I know that it’s important to make time for sleep, nutrition and exercise—even when you’re self-employed. You won’t get very far if you have a mental or physical breakdown in 6 months time because of burnout. I would even go as far as saying it is just as important (if not more!) to take care of yourself when running your own business than when working in someone else's. Don't forget why you are doing what you are doing!
9) Don’t give up on any idea, no matter how crazy it sounds.
You may have a hard time believing that your dumb idea could possibly bring you millions in profit. However, there’s no reason why you should be dismissive of all ideas that don’t sound perfectly reasonable. It may seem weird to start selling candy on your website or find business buying and selling opportunities in what people do in their free time, but those crazy ideas could turn into viable enterprises. When it comes down to it, ideas are just vehicles for profits; don’t get too hung up on them being brilliant right away. Instead, spend some time brainstorming everything that might make money and then try out your best idea first—it’s better than never trying at all.
10) Get help from an expert, when needed.
There are so many ways to get help as a small business owner. Local universities might offer consulting services, and all sorts of organizations offer free advice for budding entrepreneurs. Don’t be afraid to network, either: Join groups related to your industry, or ask people you know if they have any leads on getting assistance with your business buying and selling. There are no stupid questions when it comes to making money!
