A thriving small business community is often the fabric of a community. It disappoints me when small businesses lack the foresight to avoid some simple, easily fixable missteps as they work to grow their dream into a flourishing enterprise.
As a frequent customer of many small businesses around the Austin area, I’ve identified three ‘blind spots’ that could be plaguing your small business. By paying attention to these ‘areas of improvement’, your business may experience success beyond your most colorful imagination.
Know the Value you Offer
The customers you serve chose you because your quality product or service was offered at a fair price. Stay in constant conversation with your customers about the value you offer because they can take their money elsewhere quicker than you can send a tweet. If you aren’t keenly aware of how your customers chose you, how they heard about you, and what they plan on gaining for your product or service, your lights won’t stay lit for long.
Embrace Community Roots
In Austin, people have a wonderful, unwavering penchant for local, small businesses. If you are a local small business owner, sponsor local events, hire local people and understand what makes the community tick. Be patient – this doesn’t happen overnight. Take the long view and integrate your operations into the families and friends who will help your business stay relevant.
Stop Doing Everything
If you own a bakery with a loyal morning crowd, you are probably tempted to want to serve lunch and dinner if a few customers make the request. Think hard about what this change will do to your business (permits, hiring, marketing, competition, differentiation). Most importantly, will your bread and butter (being a loved and cherished bakery) deteriorate because of your desire to go broader?
Keep these suggestions in mind as you drive to make the rest of 2018 remarkable.
Until next time,