Starting and then successfully running a small business is, more often than not, a complete rollercoaster. Just keeping your head above the water is an achievement to be proud of. But complacency kills just as many businesses as tough economic times or failure to launch.
If you’re to survive, thrive, and succeed, you need to keep moving and growing. So, turn your shortcomings into strengths and your victories into trips toward greener pastures. Here are some tips to get you started.
Work on you
You may be running a well-oiled machine or a holistic flat-architectured agency, but regardless of how your business works, it still depends on people. And making big decisions every day, your personal growth and headspace really matters.
When you start showing signs of burnout, you can quickly lose sight of your goals, and your whole business suffers. So, keep your head on by taking a holiday when you need it, and don’t be afraid to delegate even those essential tasks! Taking on too much responsibility won’t help you in the long run.
As crucial as upskilling is for your team, working on your personal growth is just as important. Learn to respond to situations that arise rather than reacting. Taking a moment to think about the way forward rather than simply minimising damage can keep you on course for success.
Check-in with your neighbours
New ideas bring fresh growth to your business; a great place to find them is just over your shoulder. Look at other businesses in your industry, competitors or not, and see what changes they’re making. If they’re doing something really well, would that same direction be a positive move for you? What are they falling down on, and how can you do better?
It might seem counter-intuitive but talk to them! Collaborating with other businesses in your industry can bring in a whole lot of opportunity, and you can learn valuable lessons from each other.
Reinvest for success
After weeks, months, or even years of struggling, finally achieving your business goals is a grand feeling. And, I’m definitely one for celebrating the wins, but don’t leave it at that. The key to building momentum and growth is in reinvesting. That means reaping the benefits of your success, then turning around and putting time, money, and new ideas back into your business.
New skills, technology, and team members in your business can help you set your feet wide and set even loftier goals for the future. Dreams that, once achieved, can also be reinvested!
Seek a mentor
Anyone who’s started their own business will all tell the same familiar stories. Some pitfalls are common to most industries, but you don’t need to reinvent the wheel. Meeting an experienced hand, someone who’s been around the block, can help you avoid potentially catastrophic decisions and set more innovative goals.
If you’re feeling stuck in the day-to-day or frustrated with slow growth, talking to someone who’s been there and done that can give you some great ideas to really spruce it up. You can ask them about the big decisions that you often feel you have to make alone.
Find ideas in the right places
Finding fresh, helpful ideas is one of the most challenging elements in expanding your business. When looking back, the path you took was obvious. But in the moment, that magic little tidbit that unlocked everything wasn’t all that self-evident.
Finding that special new direction or brave decision isn’t as simple as just sitting down and scratching your head. You often need many new voices to find the right inspiration.
So, source ideas from your team or survey your past clients. What would help with your current practices? What new direction is the future heading towards? What product or service do people need that you could provide? These questions, asked early, can get you a leg-up and grow your business positively.
Build a culture of conversation within your business, and you’ll be shocked at the great ideas that arise.
Update, upgrade
At some point in your business’s life, a rebrand or fresh outlook may be just what you need to reach those new heights. Does your current branding reflect what you represent now? Does it represent who you aim to be in five years? If you aren’t dressing for the job you want or branding for your future business, maybe it’s time to hit the brand refresh button.
