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Guide To Growth: Small & Local Businesses

Starting and maintaining a small business is always going to be a bumpy road, but it could also be the road that leads you to success. Let’s take a look at WiseDime’s top tips in order to succeed in growing your small or local business.

Start Early
All you need is an idea and a Facebook page and you can start your business. The more you delay, the more likely someone is going to fill the potential need with their product or service instead of yours. Jump the gun, even if you don’t have an MBA, because you never know what successes could be ahead.

Ensure Your Product Fulfills A Need
Speaking of filling potential, the way that small business create value is they charge money for a service that is of value to a customer. Make a list of what “pains” your potential customer would have, how your service can alleviate them, and the needs that become fulfilled after your product launches. This plan helps to ensure your business has a place in today’s market.

Work From Home
Starting small also means starting with what you have. Don’t rent an office space if everything isn’t already planned out. This is where getting ahead of yourself could be detrimental. Use the materials and resources you already have as much as you can so you don’t have to take out loans and risk going into debt or bankruptcy.

Separate Personal And Professional
Keep two separate checking and savings account for your business and your casual spending. Treat your business like a business, not a hobby. Connect and network with serious individuals that share your goal, not just friends who support you.

Use Social Media
This one is the most important. Use live videos and stories on Instagram and Facebook to reach out to people who already follow you. Live videos show your personal passion and seriousness. Additionally, you need to interact with your friends and potential clients, responding to them in a quick and accurate manner. Start a Facebook page or group, invite friends, and start reaching out to potential collaborators via social media.

Starting small doesn’t mean starting slow. Follow these small business tips to achieve the path of success.

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