If you are just finding the ropes when you are running your small business then it’s understandable that you might make a few mistakes.
Some customers will even forgive you for minor blunders and still continue to make purchases from your company. Particularly, if you demonstrate evidence that you are committed to improving and reshaping your company in the right areas.
That said, avoiding key mistakes in the early stages of your business could still ultimately prevent disaster in your company. Here are some of the mistakes that you would be wise to remember when you are running your small business.
First, you need to make sure that you are not treating your company as though it is completely invulnerable. An example of this would be hacks. If you are running a small business then it’s easy to assume that your company is unlikely to be targeted by a potential hacker.
After all, the media certainly suggests that it’s only the top brands that are targeted by hacks. However, this isn’t telling the true story. The grim reality is that small businesses are targeted by hackers all the time. A key reason for this is that they know you won’t be paying for the same security systems as a larger company.
As such, you could be more exposed. Media outlets aren’t likely to report this because a small company being hacked isn’t a big story. It’s far more interesting if a major business is targeted and has lost millions.
To avoid this, you need to make sure that you are taking the security of your business seriously. Specifically, you need to think about the security of your data. It’s absolutely vital that hard data is protected.
You can do this by investing in secure archive storage services. With a solution like this, you’ll never have to worry about your vast plethora of sensitive data falling into the wrong hands.
Next, you need to make sure that you are investing as much money as you need to in marketing your business. You might think that it’s hopeless to try and keep up with the spending that bigger businesses pour into marketing.
Perhaps you’re right but you can ensure that you are spending enough on marketing in relation to the size of your business. We recommend that you aim to spend about 20% of your total budget on marketing.
There are also ways to save money on the typical forms of marketing. For instance, if you are using AdWords, do make sure that you remember to use negative keywords.
You should also target less competitive keywords that will still provide a high ROI. This includes keywords with regional identifiers if you are aiming for a local audience.
It’s easy for your company to fade into the background. Don’t forget that there could be hundreds, even thousands of businesses competing for the exact same customers as you.
So, it’s important that you don’t make the mistake of looking like everyone else. There are a few issues to consider here.
First, think about your website. Your website is essentially the first impression that people receive of your business. It’s what they think about when they consider your business brand.
If you are worried about issues here, invest in the services of a professional web designer. They will ensure that your website doesn’t look like it came out of a cookie-cutter.
You might also want to focus on creating a USP for your business. With a strong USP, you can guarantee that your business is going to stand out to customers and that you give them a reason to keep buying from your business.
A USP can be anything and if you’re struggling to pinpoint what exactly yours should be, check out your competition. Do some research and find out exactly how you can give your customers a better experience.
If you keep these issues in mind when you are operating your business, you can avoid countless major headaches that could ultimately lead to the downfall of your business model.
Some people dismiss the idea of having a large business mindset when you are running a small company. However, if you explore these problems in more detail it does make a lot of sense.