Small Business Success Strategies for Thriving in a Post-Pandemic Digital World

Small Business Success Strategies for Thriving in a Post-Pandemic Digital World

by | Accounting News, Business Growth, COVID-19, News

The Covid-19 pandemic has proven to business owners that a major key to long-term growth and success is found in digital strategy. No matter your industry or niche, businesses need the following core attributes in order to prosper in a post-pandemic digital world.

Adopt a Flexible Mindset

Technology is perpetually changing and progressing, and it will continue to shake up the way we work. When small businesses adopt a flexible mindset, they are prepared to assess new technology and expedite change as needed. This swift adaptation allows them to gain the biggest benefits of new technology.

At minimum, make sure you have an online presence with an up-to-date website as well as active and engaging social media accounts. You will also want to create a digital marketing plan—or hire a marketing agency to create one for you.

Learn to Outsource

As an entrepreneur you might be in the habit of doing everything yourself, but the digital world moves too quickly to be able to sustain growth this way. The most effective and efficient way to run your business includes outsourcing. Smart and calculated outsourcing can tremendously boost your profits and productivity. Essentially, you are trading some measure of control over your business for “extra” time, allowing you to work smarter and more efficiently. Depending on your industry, outsourcing opportunities could include tasks such as:

  • Accounting and tax preparation
  • Payroll
  • Web and marketing design
  • Copywriting
  • IT management
  • Social media marketing

Embrace Digital Communication

Consistent communication efforts through digital networks are essential in today’s internet landscape for gaining and retaining clients. By giving your clients multiple channels of communication through a website, social media accounts, and email—and responding to feedback and questions in a timely manner—you have the opportunity to troubleshoot issues as they arise, improve satisfaction with clients, and retain a loyal client base. You also have the opportunity to expand your reach, share specialized messaging, and establish valuable relationships with audiences across online channels. Some ways to connect and communicate with both existing and prospective clients include:

  • Launching social media campaigns
  • Distributing an email newsletter
  • Running banner ads
  • Publishing blog posts and articles
  • Sending discounts and offers through email
  • Offering how-to videos, web series, and behind-the-scenes looks at products and processes through a YouTube channel

Install Cybersecurity

No matter how small your business, it is a target to hackers who want access to sensitive information of both your company and your clients. And as more companies go digital, attacks will only increase. A surefire way to lose trust in a client is to expose their sensitive data through a security breach. Invest in at least basic cybersecurity in order to safeguard your website and other digital accounts from malware attacks or phishing scams.

Some key elements to start protecting your business include:

  • Install an SSL certificate for your website
  • Make sure you have a firewall
  • Keep software and systems up-to-date
  • Use strong passwords
Establishing Long-Term, Sustainable Revenue for Your Business

Establishing Long-Term, Sustainable Revenue for Your Business

by | Business Consulting, News, Professional Services

Experiencing business growth is always exciting for an entrepreneur, but periods of growth aren’t always continuous given that every business has ups and downs. Implement growth strategies with the tips below to help your business become more sustainably profitable over time.

Define the Purpose of Your Business

A clear purpose propels growth, profit, and sustainable success, but business owners must regularly review their objectives to be sure that they’re still serving the company in an authentic way. Does your purpose still prompt strong engagement within the company as well as with clients? Does it still lend itself to focus, drive, and innovation? A genuine and straightforward vision helps both entrepreneurs and team members to create valuable and original products and services.

Maximize Operational Efficiency

Delegate, delegate, delegate. Transferring tasks and projects to qualified employees saves you time by removing the burden of smaller duties from your proverbial plate, which allows you to focus on larger aspects of running a business. Relinquishing some of this control also allows you to move into a business leadership and visionary position at a macro level rather than spinning your wheels at the micro level just to keep the business afloat.

Build Your Brand

Your business can grow by leaps and bounds when you develop a reputable and reliable brand. A well-considered brand will help you stand out among competitors and stay fresh in the minds of both new and potential customers. However much of your budget you can allot to marketing, make sure you pin point your target audience, connect with your audience in an authentic way, and keep your messaging concise, simple, and inspiring.

Cultivate Customer Loyalty

A vital factor of business growth and sustainability is your company’s ability to keep repeat customers. Not only does establishing client loyalty help to bolster sales, it also spurs word-of-mouth testimonies that will bring in more business. Be sure to implement expectations within your hiring, training, and review processes that will strengthen your company’s relationship with customers. Keeping in touch with clients and asking their opinions will also help to ensure repeat business.

Be Attentive to Budgeting

Maintaining a budget keeps unnecessary expenses at bay and necessary expenses within financial means. Additionally, acute awareness of your company’s funds means that you know how much can be spent on marketing, technology, new product, new hires, etc. in any quarter or season. Let your budget slip and you risk delving into debt, which will only slow the long-term growth of your business.

Embrace Change

Businesses can grow under the guidance of flexible and adaptive leaders who are willing to embrace new methods and processes, new technology, new industry standards, etc. All businesses unavoidably experience seasons of growing pains, but how you as an entrepreneur approach those seasons makes all the difference. You can continue to do the things the way you’ve always done them and risk a stagnant business, or you can embrace change and move your business forward.