11 Tips & Tricks for SMBs

Whether it’s feedback from your customers or your team, different perspectives will help you grow. Try to learn as much as possible about how you’re doing, and what you can improve. Get takes from a wide range of people–the more diversity of background, the more holistic and complete view you’ll have of your business.

Networking can make all the difference in helping a business sink or swim. Making connections opens doors, and creates a framework of support from peers, friends, and colleagues. You never know what can arise from an unexpected connection, such as exciting collaborations and partnerships that help your business expand.

Stay on top of your goals by keeping yourself honest. Carve out time to assess how well you’ve been tracking your actions to your objectives. Having a greater plan is imperative in driving consistent progress, even through challenges.

As a small business owner, your life will be full of surprises, both good and bad. Unexpected challenges and changes in the world will keep you on your toes, so stay light on your feet, ready to adapt to any situation. When things change fast, the ones ready to evolve are the ones who will survive.

This is the most practical piece of advice you can get. To keep your business sustainable, you need a thorough understanding of your total costs, revenue, and profit. If you’re fuzzy on your numbers, odds are you’re mismanaging your resources. Knowledge is power, and the more oversight and control you have over your numbers, the more freedom you’ll have to make the best decisions for your business.

A rising tide lifts all boats. Be generous with your ideas, and you’ll find that a loyal community will naturally form around you and your business. This also establishes your brand as a leader in its space, which fosters a deeper sense of support and greater impact in the lives of your customers and your peers.

Though at times you may want to, it’s impossible for you to do everything yourself. Assemble a team you can trust, and then set them up with the support and resources that they need to do their job well. Nothing great is done alone, and having good people behind your mission will not only enrich your business, but also enrich your life with meaningful human connection.

When competition is stiff, it’s easy to get distracted by what others are doing. But instead, stay focused. Avoid becoming overwhelmed by all of the possibilities for where you can take your business, based on the competition. By keeping your sights fixed on the work to be done, and aiming towards smaller, measurable goals, you keep your energy going where it needs to go.

Dare to be an early adopter of pioneering tech. It helps you get ahead, and stay ahead, and can be a game-changer in positioning your business for growth. Look for cutting-edge innovations that help you work smarter, not harder. Think of technology as a long-term investment for your business. Seek solutions that offer a strong return on investment, and that can actually save you resources in the long run.

Starting and running your own business is hard. There are times when you’ll feel overwhelmed. You might find yourself wanting to give up. But keep your head up, and hold onto a belief in yourself. Every failure is a lesson learned. Every “no” simply stands for the “next opportunity.” Persistence is the most important quality that will help your business rise above challenges and into long term success.

Burnout is real. To prevent it, remember to take rest. Balance is a requirement for sustainability, and you’ll need it in order to keep a healthy relationship with your business, and your energy high for years to come.