Start Up Business

Everyone wants to know how to run a successful small business. After all, successful business ideas seem few and far between, and taking on loans for a business startup can be a scary endeavor if you’re not sure you know the keys to a successful business plan.

However, if you consider these seven tips, you’ll be well on your way to running your own successful small business!

Before we get into the seven tips, here are just a couple "side notes" to consider:

First, any business you start can fail. It doesn’t matter how many people have successfully run a business just like the one you want to open (in fact, it sounds like that might be the problem if you’re lacking a "USP").

Secondly, you are not going to become an overnight success no matter what you do. Building up a successful small business takes time, and money, and a lot of time. Be ready to devote your efforts to whatever successful business ideas you are able to come up with. Oh, and follow these tips!...

1. Be Unique

The "USP" we mentioned stands for "Unique Selling Proposition". That’s what sets your business apart from all the rest. Sure, there are hundreds of clothing retailers who are successful, so you might be thinking, "Where is their USP at?" Well, here’s the long answer:

a. Nicely Aged: First and foremost, some companies don’t need a USP because they are known as high-quality, original, or--to put it simply--they’re just well-known. You aren’t going to fall into this category, at least not until you have had many successful years in the industry and have become a household name.

b. Excellent branding: Some companies are able to rise to internet fame (or somewhere close to it) due to awesome branding campaigns. Take, for instance, Geico or Progressive. They’re insurance companies just like all the rest, but you instantly know which ads were referring to. They have great branding that stands out. This in itself is sort of their USP.

c. For you: Your USP is going to depend on what industry you’re in. However, one example of a USP is a candle shop that has jewelry hidden inside the wax (that’s already taken by the way). As you can see, a USP can be a variety of things. It’s simply what sets your business apart.

2. Be Real

If there’s anything people want in today’s world of fake news and fake Chinese knock-offs, it’s a real brand. Standout by interacting with your followers and keeping it real (but professional).

3. Be Serious

Don’t think you can become successful just for being "cheap". Take your business seriously and price realistically. Undercutting the market is not a sustainable strategy.

4. Be Open

As a business owner, it’s important you are always open to advise and new ideas, just be careful about who you’re getting them from.

5. Be Honest

This applies to so many facets of owning a business. You need to be honest with yourself (is something not working? Say it now and change it before it takes you under!), your employees (is someone on the team doing too much or too little? Recognize it!), and most of all: your customers.

6. Be Shareable

Again, it’s a world of social media. The business with the funniest tweet or the best Instagram photo wins the day. You need to be an agile and “young” brand so you can relate to the people of today. Social media should be at the core of your branding strategy.

7. Be Quality

Above all else, your brand won’t make it if your service or product is lacking. It wouldn’t matter how cute the ring is that’s hidden in the center of the candle if it didn’t smell great. In other words, your USP isn’t important if the thing you’re selling sucks. Everything needs to be well-planned, well thought out, and high-quality.

/wp-content/uploads/2017/12/business-1.jpg/wp-content/uploads/2017/12/business-1-150x150.jpgMartin B.Small Business
Everyone wants to know how to run a successful small business. After all, successful business ideas seem few and far between, and taking on loans for a business startup can be a scary endeavor if you’re not sure you know the keys to a successful business plan. However, if you...