12 Tips to Revive Any Small Business
For whatever reason, many businesses can take a downturn. The economy, or outside forces, can make a business get stagnant. Rather than giving up, perhaps you are looking for ideas to revive any small business? It is possible to rejuvenate and discover new ways to generate profits.
Here are 12 Tips to Revive Any Small Business:
- Collect More Leads. Whether it’s by networking on social media – such as joining and friending people on Instagram, LinkedIn or Facebook – or by listing on business services spend some time getting more names and emails to add to your current list. Using an Opt-in on your website is a great way to do this. You offer an incentive for the visitor to drop their name and email to you. Reach out. This helps you stay in touch and earn trust with new people who find you.
- Set REAL Goals (this time). You may have the best intentions of certain achievements you want to reach this year, regarding your business, but will you actually do it? Get a calendar, instead of just stating your goals out loud or wishing they will come true. Write down SPECIFIC DATES for milestones you wish to accomplish. This will make you more deadline-driven to achieve them! You do it for clients, so why not for your own projects or things you want to happen?
- Show Love for Your Customers. Celebrate one of your customer’s special days – perhaps their birthday or anniversary – by showing love for them. They are what made you successful. Think of something related to your business that could help them to remember you all year, especially when they need your product or service. Promotional items such as hats, t-shirts, mugs or something useful can boost customer appreciation and morale. Surprise someone this month!
- Find Residual Income. Brainstorm some ideas to make your products or services sell online, rather than relying solely on brick-and-mortar sales. Some ideas include courses, books, making videos, selling white labeled products online, and other methods. In this way, you will be working smarter, not harder. For example, THINKRIFIC offers an avenue to sell online courses to a niche audience. This could be a good way for you to make residual income.
- Reevaluate Your Website. When was the last time you updated your website? Typed a blog, or added a video? Is it time for an overhaul? If your website is at the bottom of your to-do list, you may want to give it some attention. Set aside a day, or one day each week, if your site needs more than a day’s worth of attention. Having a polished and sparkling website, as well as one that is easier for your customers to navigate, will be well worth the effort.
- Get Your Newsletter Flowing. Keeping in touch with current or past customers through a newsletter is a great way to stay in touch. Plus, you can remind them of referrals, or you can sell items through the newsletter by offering special savings. If you haven’t been doing one, make this the month to start.
- Network with Like Businesses. Companies that have a similar customer base can be useful to form mutually beneficial alliances with. For example, if you are a general contractor, consider partnering up with a real estate broker or insurance agent. Exchange one another’s client list to cross-promote your services. This is a great way to become known as an industry expert, as well as earning more referrals.
- Raise prices. It sounds daring to do in a down economy, but working with a handful of clients who appreciate what you have to offer (and who pay on time) is better than working your tail off for a zillion clients who nit-pick and make you work hard for a small payoff. Don’t be afraid to say no when you feel it’s not worth your while, although it may be difficult to do when you really need extra cash flow. Going back to that residual income idea in #4, this is also a relevant tip.
10. Become a Legend (well-known or famous for a particular niche). It takes time, but gaining PR and getting known as the “Guy or Gal” for any niche is a great way to revive your business. Some business owners do this by starting a YouTube channel. Think of topics that interest you or that you have an amazing acumen to do. For example, if you excel at marketing, or woodworking, or doing psychic readings, then develop your niche around those skillsets and you will attract a niche audience, upon which you can sell your products or services.
- Update your blog. It’s a pain writing every day. So instead of that daily commitment, try getting a “batch” of blogs done at the beginning of each month. Remember that goals calendar we talked about on #2? Spend an entire day writing as many as you can or hire a writer to do them for you. The latter is best, because you will have a professional blog and you can focus on other things while the blogs are being prepared for you. Then, set up your blog to post the blogs automatically on scheduled days. This will ensure that you don’t forget to keep up with your blog. It will help with SEO, marketing and publicity.
- Develop New Facebook Groups. Once you have chosen a path of residual income, as well as updated your blog and website, you can start networking online. Engage people to join your group who have expressed ‘like’ interests. Niche groups will attract the exact type of clients you are looking for, while helping to build trust and rapport.
- Take Time for Yourself. If it feels like your business is stuck in a stagnant place, then perhaps we too, are stuck. So often, our businesses are directly a reflection of ourselves. We can get so focused on pleasing clients, friends and family that sometimes we may forget to take care of our own needs. As business owners, we deserve to feel special for the efforts we put forth. Whether it’s splurging on something you’ve always wanted – or just taking a whole day off to spend time with your family and get a much-deserved massage – a little pampering goes a long way toward your personal well-being. After all, what is the point of being in business if you never get to have any fun? You can work better when you feel enthusiasm!
If any of these ideas resonate, it’s a great time to get out that calendar, write down the goals and give them real deadlines. Cross off each thing you’ve done in a highlighter, to feel an extra sense of accomplishment. There’s never been a better time!