5 SMALL BUSINESS LESSONS

The following were provided by five different small business owners. They were all asked to share what they felt was the most important advice they could share with another small business owner.

1. Don’t wait for your customer to come to you: If you have selected your target market, the most important action item you can take is to go to where they are.
2. Narrow the focus on your target market: You can’t be everything to everyone. The best philosophy is to work on becoming a “Big fish in a small pond”.
3. Create a budget that includes a reserve account: Too many small business owners do not plan wisely and almost any small market fluctuation can be the cause for failure. Being able to last under the adverse circumstances a small business faces is definitely a help towards growing a profitable business.
4. Be attentive: Your customers are your most important asset. As a small business owner you have to answer all your calls and read all your messages, both online and those received via snail mail.
5. Share with your industry: Become known as an advocate for your industry. Reach out and help others and participate in industry events.

You don’t need a list of 100-plus things to do to grow your business. Focus on the simple things that produce results.