5 Things That Every Small Business Needs

by Daniella Genas
2 mins read
1st 2021 March

Running a business is time consuming. There are so many day to day, operational tasks that need completing. Often they pop up just as you thought you had carved out some time to focus on strategic tasks. However, if you have growth aspirations for your business, it is key that you find the time to ensure your business has the following:

Strategic Vision Document

A strong, well considered strategic vision document outlines the direction you wish to take your business and is vital in the growth of your client base, services and/or products that you offer. How do you reach a destination if you don’t know where the destination is? You don’t. That’s why it is so important to have clarity on the direction of travel for your business. You are then able to identify the goals and the specific actions you need to complete in order to reach the desired destination.

Good Bookkeeping

Keeping on top of your finances and bookkeeping will ensure that you have accurate records and will avoid hours of stress during tax return season. It can be a nightmare doing it manually, so make sure you use the systems that are available to make the process simpler. Bookkeeping software can be synced with your bank account to auto update your records. You can also use a bookkeeping service to ensure that it is done properly and professionally (and legally). You don’t want to have issues with the tax man so make sure you give this area some time and consideration.

A Marketing Strategy

Social media and email marketing strategies are a cost-effective way of marketing your business to a larger audience. It is important that these strategies feed into a wider, focused strategy that determines who you are targeting and how each method works together to achieve the overall aims of raising awareness of your business. You should have marketing goals and objectives as well as KPI’s.

Competitor Analysis

Knowing and understanding who your competitors are, will give you the advantage of being able to stand out from the crowd. If you are clear on the other options available to your target customers, you are able to develop strategies to demonstrate why you are the better choice. You can also use an innovation process to develop new products/services/processes to ensure you are the best choice.

Customer knowledge

Taking the time to know who your customers are, what they want and how to make them feel valued is essential to the growth of any business. You should make it your mission to have clarity in this area and plan business activity in line with this information.

If you could benefit from support in ensuring your small business has all of the above to grow, get in touch to find out how She’s the Boss can assist you. Email bookings@shesthebossintl.com

 

 

 

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