The Small Business Owner | Business Success in 2019
Over the past months, I have received an unusual amount of requests to speak on how new technology and methods will change how business find success in 2019.
If small business owners invested as they should in digital marketing, local markets would be nearly impenetrable by big businesses or any competition that lacks the mobility and flexibility. But small businesses don’t invest as they should, and despite the fact it hurts the business’ bottom-line, it still does not get done.
If I had to condense this whole article into a tweet, here is what I would say:
Use your resources wisely. If someone can do it better then you, or at a lower cost (price, time, etc.), consider delegating. You want to be a step ahead? Recognize others talents, and put them to work. The real and successful entrepreneur understands this.
Why You Should NOT Be Worrying About the Big Fish in 2019
Twenty years ago, a small business had little means for exposure. On top of this, doing marketing was costly, time consuming and generally ineffective. This is no longer the case, small businesses have an upper-hand against big businesses.
The reason is that smaller organizations can adapt easier and faster to changes in demand, interest or any other consideration. But yet, most small business don’t succeed at marketing their services. I’ll leave an article which sums this up: The 10 Natural Marketing Advantages of Small Business – Small Is the New Big.
Small businesses are in a better position to compete locally than bigger businesses, but yet most fail to take advantage of it. For this article to be successful at guiding small business owners to success, we have to ask the question: Why do small businesses fail to take advantage of the upper hand?
The biggest obstacle entrepreneurs and service professionals face: the “know all, do all” mindset.
Seasoned small business consultant and CEO of Experts On Stage, Glenn Graves, says that small business owners generally fall into two camps, those that don’t recognize the value digital marketing brings to the table and those that think they can do it themselves (personal communication, Nov. 18, 2018).
Glenn has dedicated his career to the success of small businesses, and provides business owners with valuable coaching and networking opportunities, make sure to check him out @ www.expertsonstage.com.
How To Beat The Competition
First of all, let’s start with a change in mindset. Here is a common practice for our suits @ LA Consilium:
- Identify your strengths and weaknesses within your organization.
- Prioritize and Organize Your Responsibilities.
It’s not practical to attempt to wear all the hats, wear the hat of the leader. Remember, your the big picture guy, campaigning for success. Big business don’t have the CEO post new deals on social media, then why should you?
Now, it’s not always possible to delegate, as financials and labor is usually limited for small business owners, but the concept is still important to keep present, delegate as much as possible.
Common Small Business Mistakes and Fixes:
Mistake 1# – Client Acquisition Approach
Marketers work on their skills for years, you can’t possibly expect to bring to the table the same value as professional marketer in terms of client acquisition. There are low costs, high quality options out there.
1# Working with a digital marketing agency
Digital marketing agencies provide a holistic approach to client acquisition, as they employ a variety of experts. Also, they usually provide free marketing consultation before hire which give you a sense of how much you should invest to attain the desired results. At LA Consilium we provide our clients and readers with a free resource: Marketing Audit for Small Businesses.
Digital marketing agencies are a premium services, but most have small business digital marketing packages and incentives which provide great value at low costs. Before acquiring any digital marketing service, make sure they provide on their results.
*** Tip – A good way to tell if a digital marketing agency can and will deliver is to take a look at their blog postings. Are their free resources up to par with what they sell?
2# Working with a Freelancer
Freelancers are a great resource for small business owners, most have working knowledge on a variety of digital marketing skills. They provide fast solutions at competitive prices. Now, you won’t get the support and value you get from a digital marketing agency, but if you choose the correct one, a freelancer can provide excellent value to your business.
If you need help choosing a Freelancer, let me know at email@example.com, as I work closely with talented freelancers.
Mistake 2# – Business Process Stagnation
Most business owners fail to recognize that technology can abstract away a lot of tedious responsibilities. For instance, in terms of accounting, aligning your business processes with your accounting practices can translate into the automation of said responsibility. A good example of this are Point of Sales (POS) systems, which liberate business owners from tedious and cumbersome inventory and transactional nuances.
This idea of aligning your business process with technological solution can be applied to virtually every aspect of your business: marketing, customer service, supply chain, accounting, etc.
Embrace the digital transformation
Embrace the different services and technologies the digital era has blessed businesses with. Not all software or services will be free to use, but those that are premium usually save you money as well.
Embracing technology does not mean spending more, it means informing yourself on what technologies out there could make your life a little easier.
Being present online is essential for the successful small business in 2019; but how do you gain an advantage over the competition to perform better?
The easiest and most reliable strategy is to keep up to date with the tools and services available. Remember, if you can do what they can with 90% less effort, who is going to have more time and resources to kick the others ***? Yes sir, you will.
Unless your competition is also following what I have layed out in the this articles, there is no way they can compete in the long-run. Change the mindset, let others do their best work for you. Then maintain up to date with technology or get engulfed by it.