- Startups reached a record high
with more than 440,000 businesses started
in just...
You heard me right, Nealey,
just June 2021 alone.
The entrepreneurial spirit is alive
and thriving despite...
everything.
There's no time like the present
to consider ways to make your small business bigger.
- You can ensure you continue growth in years to come
if you take these five steps right now,
if you haven't already, that is.
Now, the first one really is around owning
and maintaining your website.
You kind of think this was a no-brainer,
but surprisingly, statistics show
that only 50% of small business owners have a website.
And there are many reasons for this.
Maybe they feel like they don't need a website
or that it's too much work and a waste of money.
Or since it's becoming easier
to sell products or services on social media,
they didn't really don't see a need for their own website.
While all those are valid concerns,
you cannot put a price on owning your own content.
Social media, for example, is under someone else's control.
And since social media companies
constantly change the rules and algorithms,
you're kind of at their mercy.
And as for the effort and cost,
there are so many options
for creating a website with no experience
and at little cost to you,
GoDaddy being one of them.
Having a well-rounded online presence
includes having a website and keeping it up-to-date as well.
- Nealey, I'm so shocked by that stat,
that 50% of small business owners don't have a website.
Like, it blows my mind.
I just...
I hope to change that with this video today.
(Emma laughs)
But next up, review your business plan.
Many entrepreneurs draft a business plan
when they start a business, right?
All the ideas and the brainstorms,
and I hope you still have that copy
of when you started your business.
That'd be really cool to see.
But this document details what the business does,
it analyzes its target audience and competitors,
examines cash flow and what makes the business profitable,
and sets timelines to reach business goals.
And as time passes,
as small business owners,
we encourage you to return to your business plan,
and review it, and refine its components.
I do this sort of similar process just with life goals.
I'm like, "Oh, what was I hoping to do at this age?"
If you wanna learn more about business plan best practices,
check out this video we made back when
we can make these videos in the same room.
Remember that, Nealey? (Emma laughs)
- Oh, I remember.
Now, as an entrepreneur,
you shouldn't have to go it alone,
trying to figure out how to run and grow your business.
There'll be moments when you have questions
you need answered,
a shoulder to lean on when going through rough spots,
or simply want your own personal hype squad
for when you succeed.
It's kind of why I keep Emma around.
(Emma cheering)
- Go, Nealey, go! - Now, aside from close...
See, there she is, that's all I need.
Now, I'm ready to go.
But aside from close family and friends,
some of the people you may wanna add to the system
include mentors and business coaches
who can provide genuine insights
since they've been through what you're going through.
You can find mentors for your business
through platforms like score.org or LinkedIn,
and even at workshops for business training
since you're both there for the same reasons:
to learn new skills,
acquire the necessary knowledge it takes
to run your business,
and all that good stuff.
- Let's talk about outsourcing.
Outsourcing certain tasks, you can do a lot of things.
For one, you can grow your business
while saving yourself valuable time
and it gives you the ability to hire someone
who might be an expert in something you're not skilled in,
like graphic design or copywriting.
I don't know, figure it out, be honest about it,
outsource.
And there are several websites such as Upwork and Fiverr
full of those looking...
They're on there, looking for freelance work
and these sites connect people from all around the world.
And there are many things that can be done remotely,
thankfully, which makes this much easier to do.
- In addition to hiring people
that take care of certain tasks on an as-needed basis,
it's also possible to hire
either a part or full-time employee
or even a virtual assistant
to help you with tasks that you are skilled in,
but you don't have the time for.
A good virtual assistant or VA
can take care of customer service issues
or process orders
while a physical employer to you
can handle all the in-person stuff you needed,
like packing and shipping orders.
- That's right!
And don't forget, listen to your customers.
It's your responsibility as the business owner
to understand what your customers enjoy,
and what they can't stand,
and what keeps them up at night.
So, by listening and paying attention
to the needs of your target market,
you'll be able to identify their problems and pain points.
And think about,
how can your offerings act as a solution?
Is it possible to develop new products
if your existing services
are unable to help solve these problems?
Your actions need to speak as loud as your words.
So, by responding to the feedback
that your customers give you,
and then, of course, making appropriate changes,
you know what it does?
It lets them know that they can trust you
and their business is appreciated.
And if you can provide that wow experience
so they continue to come back for more,
you guessed it,
you've just grown your business.
- So, study and plan how you will best
be able to serve customers
in calm and challenging times alike.
Reach out for customer feedback on a year-round basis
and keep a sharp eye on customer behavior changes
and audience interests.
The bigger the business,
the more investors will take interest in your startup
and it's a loyal customer base.
- All right, that's a wrap,
but your journey doesn't have to end here
because we have more than 250 videos for you to watch.
- So, be sure to like, comment, subscribe.
Thanks for watching, this is "The Journey."