Being A Small Business Owner In 2020

Posted by Karen Erdelac on Jun 15, 2020

Being A Small Business Owner In 2020Being the owner of a small business has taken on a whole new identity in 2020. In the middle of a pandemic, many businesses are struggling and adapting to new work conditions. Beyond the pandemic, important social movements and just about everything else in the news these days has encouraged owners to closely evaluate their company culture and take steps toward equality and providing a safe and healthy work environment. Anything that happens over the life of your small business is a reflection of yourself. Personal growth will help you grow your business. Sometimes that means adapting to changes quickly. Usually, being a business owner is about taking risks for large rewards, however this year many businesses are simply focused on staying afloat. Here we take a look at what it takes to be a small business owner in 2020.

Be Socially Aware

Being aware of social issues and showing compassion to those affected will go a long way toward building an atmosphere of mutual respect and a true team mentality. Listening to your employees, and even your customers, and then acting on their concerns will give your staff added motivation to propel your business forward. Employees that feel like they are a part of a great company can be some of the best promoters a business can have. The outward impact of social awareness comes in the form of an improved reputation, a strong presence in your community, employee retention and added business from those that seek out socially conscious businesses.

Publish Content

Content comes in many forms including social media posts, blog articles, videos, images, graphics and much more. Taking some time to develop your personal brand by regularly publishing some kind of content will help to personalize your business and develop loyal customers. Publishing content to your website that is relevant to your business and of value to your customers will draw in visitors and make it easier for people to find you online. Posting to social media and carrying on conversations with your followers will expand the reach of your content, allowing you to draw in customers from your local community and beyond.

Keep Up With Technology

Technology has changed the way small businesses operate this year. There has been a huge adjustment with almost every single small business, and many of these adjustments have been made easier with the help of business technology. Business technologies allow employees to work from home, they allow businesses to set up easy to use curbside and delivery services, and make managing a business easier. If leveraged correctly they can have a profound impact on your bottom line. Accounting software, inventory management software and POS systems can help you keep proper track of your business and identify areas of opportunity. Marketing technology can be used to automate processes and better track your promotional campaigns. Even if you’re not the one that is actively using the technology, you should still have a working knowledge of any technology your business uses. This will allow you to gauge its effectiveness and evaluate the employees implementing it.

Be Proactive

In order for your business to grow you need to have an eye toward the future. Not many of us know what the rest of this year may hold, so planning for the future can seem daunting and difficult. While it is difficult, it is important for your company, your employees, and even your customers that you plan for the future. Keep the health and safety of everyone in mind while planning for the future. This is the information that your customers and employees are looking for and depending on.

Business Plan

Topics: Grow Your Business, Small Business