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17 tips to run a small business

Would you like to run your own small business?

Have you an idea for a small business but do not think that you can make it work?

Have you required the skills needed to run a small business?

I will share with you 17 tips that people need to possess to be able to successfully run a small business.

1- Put your ideas into writing 

It is important to take the ideas in your head and get them down on paper.

2- Meet with your local Small Business Development Center

They can help you to create a stellar business plan to approach a lender with and their counseling is always free.

3- Identify your customer base

In your business plan you need to identify who you think will buy your product or service

 4- Outline your finances

In your business plan you need to address key questions about your business's fiduciary situation

5- Project growth

All successful small businesses need to grow their customer base and production capabilities over the first few years of operating. Make sure you have identified how your business can and will respond to growth potential?

6- make your bank work for you

Run your small business with financial efficiency by exploring all the options that banks offer small business owners and choosing the right bank for your business's financial plan

7- Secure a loan or other type of investment

Be sure to investigate the various interest rates that apply to small business loans

8- Manage your inventory efficiently

Inventory management can make or break a small retail business, so manage it carefully to ensure that you're maximizing every dollar spent

9- Consider hiring a financial professional

It may be fiscally worthwhile for you to hire a dedicated staff member who can control the financial affairs of your small business

 10- Get your license

Remember to register and acquire your small business license in the particular industry of your business

11- Stay organized

Organizing  your time with employee finances and inventory is one of the keys to successfully running a small business

12- Delegate responsibilities

You can't do everything yourself, so delegate the various jobs and responsibilities to qualified employees

13- Employ targeted promotional and marketing campaigns

 It is important to get the word out about your company, make sure the money you set aside for marketing is well spent by conducting demographic research

14- Network as much as possible

Gain support from other local small businesses by networking with other small business owners

15- Offer references

Compiled a list of satisfied clients that are willing to serve as references to potential clients, this will give future customers the ability to verify your work and customer service

16- Be accessible

Make sure potential clients and customers can get in touch with you and your business whenever they may need to

17- Deliver what you promised

If you want to grow your business by growing your customer base, you have to give people not only what they want, but what you promised them at last I want to share one great quote:
Successful people aren't born that way they become successful by establishing the habits of doing things that unsuccessful people don't like to do; the successful people don't always like these things themselves they just get on and do them

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