How to Thrive Under Pressure: Strategies for Small Business Success
In the week where National Insurance rises, Trump imposes a 10% tariff on the UK and utility and platform costs show no sign of abating, there continues to be pressure placed on the cost to run a business. So, what steps should small business owners take to alleviate financial pressure to stabilise and look towards growth?
It would be all too easy to sit back and try and ride out the storm. After all, if you’ve been in a business for any length of time, you’ve already gotten through a pandemic (and if you’ve been in business for as long as I have, you’ve seen the back of two recessions as well). But if you’re not taking steps forward, your business is moving backwards – as competition, technology and customer expectations continue to drive forward.
Here are 3 practical strategies that every small business can be taking right now that are simple to implement:
Utilise technology to help you market more effectively
Marketing may be an after thought for your business, plugging into it and only turning it on when you need it. This is often too late. Desperation smells. When you’re desperate it can be challenging to come up with fresh and positive ideas. So many business owners sit in inaction and procrastination. There are so many platforms that enable easier marketing implementation; (some free) Chat GPT (to be used alongside your business’ brand tone and messaging) CRM (Customer Relationship Management) tool and everyday task management tools, such as Asana, Monday.com etc.
Always be marketing – consistency is key to stabilising your turnover and showcasing your business as integrous, experienced and reliable as well as empowering your team to focus on business growth too.
Keep investing in your business
Its mind blowing to a business coach to hear of small businesses turning off the tap on investing. Whether it’s impeding you and your team developing through to stopping your training and marketing budgets. NOW is the most important time to invest. Its time to get focused, stay motivated and thinking positively and innovatively.
What’s that nagging thought? That thing you know needs to be done to stabilise and grow? Whether it’s working with a business coach, training your team on LinkedIn marketing or hiring a copywriter for a website refresh. Use the quieter time to research and invest.
Do things differently and increase your sales
“The most dangerous phrase in our language is we’ve always done it this way” Grace Hopper
Spend some time exploring what’s currently working for your business, in terms of marketing and sales and do more of that. And stop what’s not working. This will save you time, and therefore money. Think about what your current clients love about working with your business. Is a new product or service that you can bring to the market, that will enable them to do more or better business with you?
Start today, the sooner you decide, the faster you’ll see results…
In June I’ll be running a workshop for The Chamber of Commerce, ‘How to Thrive under Pressure.’ We’ll be discussing some of the real challenges facing us all as small business owners right now and exploring the practical, simple and innovative things we can implement to overcome the issues, to stabilise and increase growth across all elements of business, sales, marketing and team. Join us here: https://www.greaterbirminghamchambers.com/event-calendar/thriving-under-pressure-strategies-for-small-business-success.html
Book in for my complimentary Kickstart Session – a one hour call to give you clarity, focus and guidance on your best next steps in business.
