Small Business Success Tips

In honor of Mom & Pop Business Day, we’ve researched what small businesses report as the drivers to their success. Here’s what they say:

1) Have a strong customer service strategy.

  • Show your customer the love, and they’ll keep coming back.
  • Communicate often and accurately.
  • Understand what your customers want and deliver it.

 

2) Grow your business through recommendations.

  • Find your raving fans and ask for recommendations and referrals. They are the most powerful form of marketing for new customer acquisition.
  • Use social media marketing. It’s an inexpensive way to communicate with your customers and those who follow them.

 

3) Develop a solid marketing plan.

  • Use internal and external research to develop your marketing strategy.
  • Identify and understand your target audience.
  • Your plan should have a clear objective and details the methodology to execute your marketing strategy.
    • 3a) Execute your plan.
      • Once you put your plan into action, monitor your customers’ reactions.
      • Continue to devise future opportunities and tweak the plan as necessary.
    • 3b) Measure your plan success.
      • Capture and interpret the data. Your analysis will strengthen your marketing strategy for future growth.

 

4) Treat your employees with respect.

  • Respect their time off, take an interest in their personal life, and help them achieve personal growth.
  • Happy employees will always treat your customers well.
 
Almost all success is driven by a clear vision, hard work, and setting aside time for yourself and family. There are notably several large businesses which grew from traditional mom and pop shops – Spanx, Nike, Ben & Jerry’s, Yankee Candle, Whole Foods, and Dell Computer to name a few. We salute the small businesses who found their niche to survive among the giants.
 
Source: Ondeck Resource Center