• Sarah Scott | PKF Newcastle

TOP THREE TIPS... For Small Business Owners


Starting a small business and working for yourself is a dream for many people. There’s no question it’s hard work, but if you get it right, it’s truly rewarding. Though many small businesses fail, there are also many that succeed, and of those that succeed many feel like there aren’t enough hours in the day or that they’re not getting real value from being a business owner. Getting the balance right is difficult so here are our top tips to ensure small business owners thrive.

1. Know your own value - No matter your position and role, from business owner to receptionist, you should only be dealing with the tasks that are at your level. It’s not good for your company to have the business owner emptying the bins each night when you could be networking and meeting potential new customers who could bring in significant new work for the business.

There’s a lot that can stop effective delegation from actually occurring! The benefits of effective delegation are countless. You’ll find you have more time with your family, more time working on the valuable tasks that you actually enjoy doing, you achieve the goals that you set for yourself, you help other people to grow and that the business makes more money.

2. Know who and where your audience is - Think about the marketing campaigns you are running. You could be throwing away hundreds if not thousands of dollars per month if you’re not measuring the impact your campaign is having on sales.

One of the simplest things you can do to put money back on your bottom line is to stop doing things that don’t work, start learning what does work and replicate it. Marketing budgets for small companies are already too tight, and you simply don’t have the time or finances for things that don’t work.

3. Get a support group - Many small business owners can’t afford to invest in a business coach but not getting any help is one of the key reasons many businesses fail.

There isn’t a successful person out there who has done it all by themselves, but unfortunately, the statistics for small business owners are scary; 39.3% of small business owners said in a recent survey that they don’t feel they have any trusted advisers.

Inject the momentum back into your business, get time back with your family and increase your profits by engaging with others. For more tips sign up to www.momentumforbusiness.com today.

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