Top Tips for Small Business Owners

Small Business

Small businesses are important! Not only do they support local economies, but they offer personalized service that larger companies simply cannot provide. Still… small businesses require a lot of work.

Here are some tips for helping your small business succeed:

1. Find a mentor: You started your small business because you had some great ideas and a real passion for the product or service that you offer. Yet, there may be other areas of running a business that you aren’t familiar with. Seek out a business mentor, someone who has run their own small business, who can teach you what they’ve learned over the years.

2. Seek out quality legal and financial professionals: Laws, regulations, and financial processes can be complicated. Don’t skimp when hiring lawyers or accountants. Shop around, and find out if the lawyer or accountant has small business experience before signing a contract or paying a retainer.

3. Discover your promotional mix: Marketing and promotion methods aren’t created equal. Research what other businesses in your industry are doing, and try different promotional methods such as search engine advertising, social media promotion, Yellow Page ads, and even local TV or radio commercials.

4. Practice self-care: Many small business owners fail because of personal burnout. Stress takes its toll on their health, fitness, and relationships. Make time each week for exercise, relaxation, and quality time with friends and family. If this is hard for you, consider hiring a life coach or talking to a counselor.

5. Be part of your community: It’s important to give back to the community that supports you. Participate in local events, charity fundraisers, and sponsor local sports teams. Community involvement is also a great way to network and to make your neighbors aware of your business.

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