Turning your small business into a big business

Turning your small business into a big business

You need to keep your eyes open if you want your business to survive and thrive.

The same advice applies to expanding a small business. It pays to have big ideas and pay attention to little details.

Big marketing

Just because your business is small doesn’t mean you need to think small. Every company has to start somewhere. So be ambitious and aim for the stars with your marketing.

Great marketing ideas may be hard to come by, but the best thing about them is that they’re free. Anybody can have a great idea. And if you apply your creativity, then neither budgets nor experience need be a barrier.

Little numbers

Pay attention to the numbers. It’s surprising (although understandable) how many small business don’t know exactly what’s going in and out each month.

If you’re too busy with the day-to-day running of your business, little financial problems can snowball quickly. We recommend paying close attention to what’s going out and how you can cut those costs. These are all things a good accountant can help you with, and save you a lot of time, hassle and money in the process.

Big changes

Pay attention to what’s happening in your industry. Learn from the big players in your industry by studying the things they do well and working out how to incorporate that into your business.

Even better, look at what they’re not doing well and work out how to take advantage of it. When everybody is zigging, try zagging.

Little conversations

Word-of-mouth marketing is more important than ever. People have never been better connected. So it’s easy to voice, share, tweet, text and publish opinions on any business they choose.

Remember every conversation with customers, whether in person or online, is vital. It may be the first and only time a customer experiences your service. If they like you, they might tell a couple of people; but if they don’t, they’ll tell twenty.