1) Be Data Driven
Small businesses cannot afford to ignore data. There are free tools and online metrics to measure almost everything. Spend some time every week analyzing the data. If you’re a digital business look at Google Analytics every day and see where people are dropping off and analyze why. Look at your social insights and derive your content based on what people like
2) Touch points
As a small business we often have to work more to gain trust. So if you are an e-commerce business, consider offering a few touch and feel opportunities. If you’re offline, you must have a digital presence that shows up when people research you. You have to be committed to all your touch points and sales channels for them to work effectively together.
The most effective but often under used tool in a small business’ kitty. Talk to other business owners who have a non-competing product but are speaking to the same audience and see how you can work together. An effective collaboration will benefit both parties.
4) Build your personal brand
Brand awareness is often tied in to the business owner’s identity for a small business. In this sphere, people buy people first. Talk to your customers about expertise, your journey, create content that tells your story. Be the brand so that when people buy from your brand, they feel like they’re supporting you.
5) Know your numbers
It is absolutely critical for a small business to understand what the numbers are saying. An accounting package and a regular commitment to keeping up your books is the best thing you will do for your business. If you have fallen behind, spend time and money on getting your accounts up to date before you spend on anything else. Knowing what is coming in, going out and what you spend vs what you make is the first building block.
Indian, mum of two (age 4 and 9 years) and Business Strategist specialising in e-commerce. The former owner of online kids’ stores 6am Babies and Kidore, Ayshwarya now heads up The Ivy Business Consulting (@theivyUAE), which offers advice on strategy and growth to small- and medium-sized businesses in the UAE