If you are running your own business then you may already know that as many as 90% of businesses won’t make it to their fifth year of trading. Businesses can come
crumbling down due to many issues including running out of money or simply not having the knowledge and experience needed. If you need some further ideas and tips on how you can keep your business afloat then take a look at the article below.
Strong Website
One of the best things you can do for your business is create a strong and stable website. When your office doors are closed, your customers and clients will be using your website to place orders. If they have to scroll for ages to find the page or product they are looking for then they are more likely to take their business elsewhere. This means they will choose your competition over you, spending their hard earned money elsewhere is not going to get you the profits your business needs to survive.
Marketing
Another thing you will need to work on if you want your business to last a long time is marketing. This is the one thing that will take the most out of your budget, but it is necessary. Without the right marketing, branding, and techniques you won’t get very far with potential customers knowing about your company and what you do. Video marketing has come on leaps and bounds in recent years and is now quite popular among businesses. It is a far more personal way to reach customers and inform them of what your business is about. Something else that could give your business a push in the right direction is digital signage. Speak to a reputable
signage company about how they can help you achieve your marketing and branding goals.
Great Team
Something else you will need to keep your business going is a great team of employees. You can of course run your business as a one man/woman show but as you grow then this can get increasingly tricky. Having the right team working for you will ensure your business is taken care of even when you’re not around. Look at individual resumes, ask the right questions, and gauge who will work best as part of a team.
Location
Finally, when you have your own business it is vital you are located in a place where you can be found easily. If you can’t be found even with the use of map apps then you are going to be losing a lot of customers. Think about
being situated in the main hustle and bustle of people, depending on the type of business you are running. If you want to be further back then you will need to rely on signage so people can find you.
We hope you found this article helpful and that it gave you some useful ideas on how to help make your business stand the test of time. You will be met with hurdles along the way, it is all about how you handle these as to whether your business is still standing after five years.