Starting a small business can be a difficult task, but there are ways you can make things easier for yourself. Taking the right steps at the beginning of your business means having success earlier on, which ultimately makes your business more profitable. New Year is a great time to start a new business, and since so many decide to take the plunge at the start of the year I thought I would share some advice from somebody who has been in business for years. Here are my top five tips for running a small business.
Stay on top of your finances
Once a year you are going to need to hand over all of your income and outgoings so that you can pay the appropriate amount of tax, but rather than doing it all at once the week before the deadline, it makes more sense to do it little and often. Keep monthly accounts at a minimum, to take away the stress of your tax return every year.
Protect your product on the move
It doesn’t matter how beautiful and sturdy your product is when it leaves you, it’s what arrives with the customer that counts. That’s why it’s worth looking into bespoke packaging so that you are confident you have the packaging that is going to keep your product safe. This is also a great opportunity to express yourself in your branding, getting your brand out there to anybody who sees your package on the move.
Know the value of your work
When you’re a brand new business especially, it can be really tempting to sell your work more cheaply just to build up your customer base. However, there are a few reasons not to do this. Firstly, it undervalues your work, so the customer doesn’t appreciate how much time and effort you have spent. This will immediately make them consider your work to be a low-quality product, which they will not respect and will expect to have a quick turnaround time. Additionally, it’s simply not sustainable to keep your prices low – so charge what you deserve to receive if you want your business to keep going!
Join a supportive community
Community is everything when you’re starting a business, so it’s worth joining social networking groups that are all about online selling – particularly if they’re also selling a similar product. Obviously, you can’t ask somebody to divulge all of their trade secrets, but they may be willing to share small tips with you which make your life much easier and increase your selling potential and customer base.
Invest in your product photography
It’s true what they say – the customer buys with their eyes. That’s why it’s worth investing in good photography, including lighting and props to make your photos stand out. Go for light, clean backdrops, and avoid too much unnecessary clutter in your photos – you want your product to be the sole focus that draws the customer’s eye.
Are you a small business owner? Are you planning to start a business in 2022? Share your tips below!
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