As the global economic climate struggles to recover, the business environment across the globe has been somewhat overshadowed by skepticism. Moreover, consumers and businesses alike, have become increasingly frugal in their spending habits.
Such an environment has made it especially difficult for start-up initiatives and small businesses to survive and succeed.
However,
tough times often precede great innovation. Even though marketplaces have become extremely competitive and, therefore, volatile for new players, with effective techniques and creative solutions, new businesses can still make a mark.
Here are some handy tips that will help start ups and small businesses to shine in 2010:
Work on the 'Wow' Factor!
If you want to make an impact in many already saturated markets, you need to do something that existing players aren't doing already. Working on the basics is not enough. It may get you a solid foundation but if you really want to reach out in the market, you need to create an appealing ‘wow’ factorfor your products and services and provide something to your customers that make them say... Wow!
Experience Experiment
Experimentation is the key to innovation and success. Often, businesses are so used to a particular way of doing things that they are afraid of change. However, change is the order of nature and is quite necessary if you want to adjust to your present circumstances. Therefore, don't be afraid to experiment with your business processes. Only when you try out new ideas or new ways of doing things can you explore new avenues of achieving success.
Don't Forget to Have Fun
One of the chief characteristics of a successful business person is that they enjoy their work. Only when you like what you are doing can you deliver your best in it. Therefore, don't forget to have fun in your business. This not only refreshes your employees, but also ensures potential clients see you as a happy company and the type of people they want to work with!
Seek to Learn
The most powerful businesses are the ones that keep their doors open to learning and knowledge. Even though you might be an expert in your niche industry, remember that there are always new things to learn. Make education, training and knowledge building a key aspect of your business and incorporate these ideals into your employees as well.
Build Open and Honest Relationships With Communication
Communication is a key ingredient to any business endeavor. Clients seek honest business partners with whom they can have an open discussion about their needs and requirements without being taken for a ride. However, the difficult part comes when you have to convince your clients that your products or services are superior or better suited to them, when almost all of your key competitors are making similar claims. The answer is – more effective communication, whether it is with your clients or with your employees. A clear and transparent dialogue will foster better understanding of what you have to offer and, therefore, stronger business relationships.
Be Passionate about your Business
Believe it or not... but clients can really gauge how passionate you are about your business by observing you. Never let your spirit die. In fact, let it be a prime consideration in your recruitment process - hire people who are passionate themselves about what they do and about what you do.
Disclaimer : Sabra Easterday is the founder and managing member of MatchB2B. Sabra is also a lawyer with a special interest in business issues and e-marketplaces. Notwithstanding that Sabra is a lawyer, nothing in this article and no services of MatchB2B or its website are legal services and no attorney-client relationship exists between any reader of this article or user, customer or potential customer of MatchB2B, and MatchB2B, its website or Sabra Easterday.
