Being a small business owner often requires you to wear many different hats. However, it is important to focus on your business’s main objective, which is to turn a profit.  Read on for four elements of small business that should be at the top of your priority list.

  1. Be social. Make a list of all the possible ways you can meet and socialize with people. Start with a list of people you know and their interests. Then make a list of the people they know and finally, create a list of ways to meet new people. Becoming a social butterfly will help grow your business naturally and effectively. The benefits of being social will result in greater word of mouth for your business, increase business and increase opportunities. To optimize your social interactions utilize social media networks to stay connected and to nurture relationships with all your people.
  2. Focus on your local market. In the past, the idea was to cast a large net and hope to catch as many as you can. But, that was expense and usually yielded poor results. The better strategy is to help customers find solutions that your products solve, keep them close by so your business can easily maintain a relationship with them, and efficiently promote return business.  Here are a few ideas on how to tap your local market. Hold an open house, inviting local residents and business owners to see what your business is all about.  Consider getting professionally involved in a local cause such as school fundraisers, community food banks, or places of worship.
  3. Collaborate with others.  In addition to focusing on the local market, join forces with other businesses that complement your own.  Collaboration can take several other forms as well.  Perhaps attending a convention or other professional development opportunity, you will meet people with similar goals and interests.  Working cooperatively with them can benefit you both.
  4. Make it snappy and easy.  Most people today are always on the run and are multitasking all day long.  When introducing your business either in person or online, make sure you have an informative couple of sentences that sums up what you do and how it might help that possible customer. Also make sure your business processes are efficient. Make sure your business is easy to find, make the sales process quick, make customer service engaging and quick to respond to customers/prospects needs.

What other elements of being a small business owner do you feel are important?  Please add them to the list by commenting below!