Being 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.
Driving small business growth requires a proactive owner with an eye on the future. Taking the initiative to focus on growth rather than just maintaining will ensure your business thrives even in lean times. Staying current on the latest trends and technology and continuously educating yourself on the tools needed to grow will help keep you ahead of your competition.
By now, almost every small business owner has heard the phrase "location, location, location”. The right location can transform your small business into a thriving company. The wrong location can put you out of business. Having a business that is profitable enough to justify opening a new location is exciting, and taking time to research the perfect site will help ensure that the second site is as successful as your first. Opening a new location for your small business is both exciting and stressful. Proper research and capital will ensure you're ready to meet and overcome challenges as you take advantage of new opportunities. Just as with the first location, there are many expenses involved in opening a second location. More staff needs to be hired, including hard-working and trustworthy management to run things when you are not at one of the locations. More inventory must be ordered. Renting or purchasing a second building or storefront is another necessity. Equipment, display racks, and everything you needed at your first store will need to be duplicated for the second location. Here's what you should look for when opening a new location for your business.
As a small business owner, there are bound to be tough times when you need a little extra motivation. It’s important to realize that many successful people have their roots in failure. Those that decide not to give up and keep pushing forward are the ones that achieve greatness. Many people in history have offered tidbits on how to stay positive and get what you want out of life. Here we’ve compiled some quotes from business leaders past and present to give you that extra boost you may need.
Halloween is a time for creativity and fun. Small businesses are smart to take advantage of this growth opportunity to bring in customers and increase revenue. Holidays represent a great time to run promotions, host special events and grow your business. There are lots of things you can do to bring in and entertain children and adults. This time of year also presents opportunities to expand your reach through branded items. With advances in technology there are more ways than ever to capitalize on the holiday season. Here we’ve compiled some great ways to market your business during Halloween.