Keep these in mind as an entrepreneur

Customary business advice is not always best served to small business owners. For many entrepreneurs what has worked for them does not impersonate the advice their large competitors may have followed. Keeping this in mind, it is imperative to consider a number of guidelines specific for you as a business owner regardless of the size of your operation in business.

Successful entrepreneur does not always aim at matching or beating the prices offered by the competitor. Price may win among retailers as well as countless other larger businesses in a variety of categories - but smaller businesses know all too well they typically cannot compete in this big-box space when it comes to monetary perspective.

In substitute, this is where smaller businesses have the chance to thrive in offering other experiences that stand-out from prices alone. Of course, price will factor into the overall impression any business leaves on consumers, but when combined with other experiences price can often become overlooked thanks to many other factors that can outperform it.

To be successful in business an entrepreneur must deliver customer services that leave a lasting impression so to speak. Literally most small businesses are not doing well due to a lack of good customer service and absence of quality control on product quality, the only strategy to embark on hence to bring new life and profitable success to the business is merely by making your business “customer centric”. That is, to provide the best customer service possible. To make this happen, you have to become more than just business owner, service provider, product maker, etcetera etcetera!!

Big or small, businesses gain the opportunity for increased customer retention and more frequent spending when loyalty programs are offered.

You can create one that is digital, mobile, or even old-fashioned by using paper and a hole puncher, but the idea is that you create one that makes sense for your business and your customers. The key is creating a program that is accessible to all and easy to use.

Another guideline to help your loyalty program thrive is, give it extra Tender Loving Care (TLC) so that it stands out among your other marketing efforts, including your business newsletters, via social media and of course, whenever you’re tending to customers and during any customer communication.

Aim to have it stand out as a well respected perk to customers experiencing your business – and one that they want to experience again and again.

Finally, consider what motivated you to begin your small business in the first place. Was it a passion for what you sell? A motivation to offer more to a community or general business niche that was not being filled before?

Whatever your “why” was, make sure your “why” continues to lead you in your small business efforts. This can fuel you to make smarter, more focused decisions that don’t have to blend in with what your big-box competitors are getting recognized for.

So while it’s important to know what your competition is up to, make sure you also know how to tune them out when narrowing in on your own small business plans.

By Julius Landou Bulili –Small & Medium Enterprises Coach| Email: [email protected] or [email protected]