It’s easy to spend every day tackling a long to-do list and checking items off a list. It’s a lot harder to step away from your day-to-day workload and think of new ideas that will actually change the course of your business. If you’ve been grinding away at the same to-do list every day with minimal growth, it might be time to try to something new.
Since new ideas aren’t always easy to come by, here’s a list of possible actions to spark the next phase of your company:
Ways to improve your business strategy:
- Introduce new products or services to diversify your offerings
- Research new needs or pain points in your market
- Host a “trial run” of a new product or service before launching it officially
- Find a new market to target for additional sales
- Re-evaluate your business plan with 9 simple questions
Ways to market your business:
- Leverage marketing automation tools
- Invest in paid advertising
- Audit your site’s SEO and implement small changes to support better search results
- Set up a Google business profile
- Start a blog
- Use email marketing to keep customers engaged
- Develop a co-marketing campaign with other local businesses
- Change the time or frequency that you’re already posting on your blog
- Use a new social media channel, or introduce a second account on a social media platform
- Change the time or frequency of posts on your social media accounts
Ways to update your brand:
- Simplify the way you speak about your business
- Change the tone of all of your marketing efforts – should you be more personal, professional, young, old, etc.?
- Introduce a new logo and color scheme
- Redesign your website or introduce a new website
Ways to introduce new equipment
- Buy new equipment to produce your products or facilitate your service
- Update your technology, including computers and software
- Implement a new, simpler point-of-sale system
Ways to improve your bottom line:
- Stop accepting cash
- Seek additional funding with a small business loan
- Crowd-fund a new product or location for your business
- Hire an accountant to help understand the numbers
- Reduce the costs of running your company
Ways to make your customers happy:
- Ask for customer feedback
- Create a customer loyalty program
- Implement a customer management system
- Get listed in local directories
- Set up a Yelp profile and ask for customer reviews online
Ways to improve your sales:
- Offer a sale on less popular items
- Sell seasonal items for specific holidays or times of the year
- Bundle items in a special offer to increase overall sales
- Explicitly ask your clients or customers for referrals
- Bill clients sooner or re-evaluate your payment terms
Ways to find help:
- Hire a small business coach
- Join a meetup group with other small business owners
- Get involved with your local chamber of commerce
- Outsource some of your workload
- Hire an intern or temporary employee to add manpower to your team
Ways to engage in your community
- Ask your community to join you for a local event
- Host a networking event to build good will for your business
- Sponsor a fundraiser to drum up a positive reputation in your community
- Showcase support for local non-profits on your site or in your brick-and-mortar location
- Offer a good-will program to make your business accessible to those in need
Ways to manage your time:
- Set realistic expectations for each day’s to-do list
- Prioritize each day around a specific theme, like marketing or finance
- Only tackle 3 major projects in a day
- Delegate to team members or partners
- Change your working or open hours to times when you’re more productive
- Take time off or leave the office early
Ways to learn something new:
- Find out what the competition is doing
- Read (and save) popular small business blogs
- Listen to business-oriented podcasts
- Discover the power of audiobooks
- Attend a workshop to hone your skills and network
- Read up on your business idols
- Start a journal to reflect on your journey as a small business owner and address daily challenges
Regardless of the stage of your business, there’s a lot to be done to help your company thrive. What are you doing to achieve results?