Now, more than ever, small businesses need to take significant strides to thrive. The global economy has been struggling these past weeks, and setting your enterprise apart from the competition has never been more critical. There is still an opportunity for growth, but a more strategic approach to improvement will just need to be taken. The best way forward is to make the smallest and most cost-effective changes that have the most significant impact on your business. If you’re not sure what these changes are, this article can help.
Digitalization
This is a broad term that can have straightforward applications for your small business. The mere transition from pen and paper documents to digital ones can be considered a small change but can greatly affect the accuracy of the records and the efficiency of keeping them.
One of the best small investments you can make is to switch over to digital bookkeeping. Ensuring that money records are accurate will not only boost accountability, in time, but you’ll also notice trends that can help influence your future decisions – like changing operating hours to suit more customers.
The implementation of a barcode system can also help make things easier on the business end. It’s not as difficult or expensive as it looks. There are several devices that you can even buy used or damaged at a bargain. Many businesses offer repair services for brands like Zebra, Nadamoo, Symcode, and others. Plus, having a barcode system adds a whole new level of reliability to people’s perception of your products.
Internet Tools
Email is also a big step up from landlines. Although many still prefer to speak with an actual person when dealing with businesses, some queries can be quickly addressed via email. This will also increase your capacity to correspond with your clients.
Ecommerce has been the go-to for both consumers and enterprises, particularly in these past few weeks. The ability to operate and exchange goods and services with just a few clicks has not only made businesses easier but also safer. With Ecommerce, you don’t even need to have an actual store. There are also other platforms that you can use to showcase your products, even if your business doesn’t have its own website. This article by Startups explains how your business can sell products on Amazon UK.
Everyone is on social media. Your business should have accounts too. It’s a good (and mostly free) way to promote your services. It’s also an excellent way to inform people of updates about your business. According to Hubspot, over 80 million small businesses are using Facebook to engage with their customers. Although having a website is still a great advantage, social media accounts are the next best thing.
Partnerships
Partnerships don’t have to involve billion-dollar deals and a team of lawyers. Sometimes, even a phone call between two stores will suffice. Establishing a collaboration between businesses is a great way to expand your market and increase sales. If, for example, you sell drinks in a food park, partnering up with a hot dog stand can be mutually beneficial. Offer discounts or freebies so people will be encouraged to buy from both businesses.
Changes don’t have to be significant for their effects to be felt. Make these small changes and see how impactful they can be.
