Here are 4 ways your small business can remain competitive:
- Get professional help!
Two questions to ask yourself to determine what tasks you need to get help with are:
- What are the things you do that drain you of energy? We all do things we really enjoy and that energize us. We also do things that tend to drain our energy.
- What are the things you do that don’t directly increase your profits? You know—those tasks that have to be done in a business but don’t directly bring in income.
Once you’ve identified the things that drain you of energy and that don’t directly increase your profits, you’re ready to call in professional help. A virtual assistant can take on those tasks, leaving you with the tasks that you feel energized about and that contribute directly to your bottom line.
- Market by providing valuable education
Any business owner can increase their profits by gaining new clients. The key here is to approach this with a new mindset. Instead of focusing on gaining new clients to increase your business, focus on contributing value to others. The increased business and new clients will come.
Think about how you market to your clients. Is your focus on what you do and what your services you provide? The key is to focus on our prospects and clients, on their needs, who they are, what challenges they face, and what benefits they will receive by using your services.
Another way to provide valuable education to prospects and clients is to write articles and reports, such as this one, and distribute them freely. They not only increase your credibility, they give your prospects valuable information and a way for them to learn more about you and your services.
- Build relationships with social networking
Marketing now needs to focus more on building relationships. That’s why we’ve seen an increase in businesses using social networking sites such as LinkedIn, Facebook, and Twitter. Use these sites to provide resources and referrals. Be involved and participate in a meaningful way. Building relationships at these sites can build trust and at some point you’ll find people asking more about what you can do for them.
- Invest in your business
Sometimes the best way to remain competitive in the small business world is to invest in your business. As a small business owner myself, I know how difficult the first few years were and there were times when there was no way I was going to spend any money until I had earned a certain amount of money. However, I learned an important lesson: investing in my business. Investing in my business allowed me to hire additional help so I could take on more work. In the process my business grew, I was making more money, and actually working less because I had a team of people assisting me.
One way to invest in your business is to utilize the resource Kabbage. Small businesses can use the working capital loan Kabbage offers to invest in their business to grow and thrive.
So what are you waiting for? If you want your small business to remain competitive, then get professional help, market by providing valuable education, build relationships with social networking, and invest in your business!