Stay organized
Proper documentation, time management, and automating repeatable tasks can mean the difference between boom and bust.
Keep accurate records of business finances: Record every transaction (customer billings and vendor payments) into the proper account at least once weekly and keep an eye on the bottom line. Keep copies of all invoices, cash receipts and cash payments for bookkeeping and tax purposes.
Set (and keep) deadlines: Stay on top of administrative tasks using project management software, this lets you set deadlines, assign tasks to employees and upload documentation to a central repository.
Plan ahead: Plan your social media campaigns in advance using social media scheduling software. Use email marketing automation to follow up with new leads.
Build A Strong Team
Businesses live and die on the strength of their workforce, especially in the early stages. Find people who genuinely care about the business’s wellbeing and aren’t just looking for a job. Some people don’t appreciate the unique spirit of working at a startup, having the opportunity to make an impact and watch the business grow — so find those who do.
Automate As Many Things As Possible
Automating repeatable tasks saves time and ensures small things don’t fall through the cracks. Recently met a prospective client at a networking event? Use your CRM tool to automatically follow up with new contacts within 24 hours or send emails to new leads who visit your website. Use accounting software to automate your day-to-day bookkeeping so you don’t waste time on data entry.
Maintain A Personal Touch
Small businesses are uniquely positioned to offer a personal touch, especially if you have a small team or run the company yourself. Handwritten thank-you notes go a long way. Or, you can include a simple gift alongside the purchase or offer freebies in exchange for reviews.
Cut Costs As Needed
Cost control is key to staying afloat, especially in the early days of running an online business. Establish a baseline to measure actual expenses against planned expenses. By looking at budget variances, you can see where your estimates are accurate and where they’re off. Look at where you went off track. And What can you cut.
Think Omnichannel
Think about offering a seamless experience across all of your marketing channels. This can be as simple as ensuring consistent branding across all social media channels.
Culled from: https://www.bigcommerce.com
