Whether you're a full-time entrepreneur or a parent who wants to start a home business in their spare time, hard work can lead to great success. On the other hand, starting a small business can be very challenging, as well as risky. Don't make the same mistakes that others have made before you. Instead, learn from their mistakes as you help your small business to grow. An estimated 50% of all small businesses will fail within their first year. You don't have to be another statistic. Here are four ways to help your small business grow so that you can beat the odds and flourish.
Work With Local Companies
In the internet age, it's easy to overlook the many opportunities and relationships that are waiting outside your front door. Get to know the businesses and small business owners in your neighborhood. You will often get better prices this way, as well as more reliable service. After all, local companies care most about satisfying their customers and establishing a good reputation in the area. For example, if you need a notary NYC, a local business like Fulfillment Service USA can help you quickly. By using a local business, you are strengthening your own community, as well as establishing relationships with fellow business owners. This is also a way to promote your own business in the community.
Embrace Social Media
On the other hand, don't miss out on the affordable marketing opportunities that social media provides. You don't need to hire a social media consultant or manager, either. Most small business owners are capable of running their own social media, as long as it's something they're comfortable with. Older business owners, or anyone who is uncomfortable with the internet, should, of course, outsource this job. Your small business should have a Facebook page, as well as a Twitter account. You should probably also have an Instagram account, especially if you sell anything visual, artistic, or creative. These social media platforms let you talk directly to your customers, which is a unique opportunity for your small business. Don't be afraid to ask questions on your account, either. You may be surprised what you learn about your customers and your business.
Look For Mentors
There's an instinct for small business owners to put all of their focus inward, into their company. However, business owners should also take the time to reach out and learn from the experience of others. It can be difficult to meet a mentor, especially because of the competitive nature of small businesses. Your mentor does not need to be in your specific business niche, though. You can learn from anyone who has succeeded in entrepreneurship. You can also learn from people who have not been so successful, and hopefully, avoid making some of the same mistakes. To find a mentor, join professional groups online and at local community centers or schools. Don't be afraid to ask for help from experts, either.