Your small business exists in an intensely competitive field, which means it’s even more important to find ways to differentiate yourself from your competitors—and the easiest way to do that is by offering the most value possible. Even if you’re not a direct competitor of someone else in your industry, you can still learn tactics and strategies that will help you become more profitable and successful than ever before. Take advantage of these five ways to learn the tactics you need to know for your small business.
1) Attend an Event
Attending an event, like one at your local chamber of commerce, can provide networking opportunities and provide valuable insights on where you should invest time and money in your small business. Plus, events offer ways to stay up-to-date on new developments in your industry. For example, a conference might discuss changes in marketing strategies or business practices that could help your company grow.
2) Interview Customers
Interviewing customers is a great way to learn more about what your customers are looking for and can provide inspiration, too. Simply ask questions like What do you look for in a small business?, How did you hear about our company?, and Is there anything we could be doing better? When talking with people face-to-face or over the phone, they will feel heard and understood which can build trust in your company. Make sure that when interviewing you take notes on what they say to keep track of it later!
3) Get Coaching
Find Mentors – Reach out to others in your industry, mentors are often more than happy to help. Be open with them about your goals and they will likely be able to point you in the right direction. Whether it’s providing feedback on a business plan or pointing you towards a helpful book, mentors can provide valuable support and guidance. * Find Competitors – When working on any project, especially something as tricky as launching a new company, you need all of the help you can get.
4) Watch Videos
There are plenty of tutorials, training videos, and other resources on YouTube about how to improve your small business. If you’re considering a new business venture, or looking for ways to get better at what you already do, there’s probably something useful out there. You just have to know where to look. For example, one popular video is called Introduction to Affiliate Marketing and it has over half a million views. The video is an hour long but goes into detail about all aspects of affiliate marketing. It was created by an experienced marketer who wants to help people learn more so they can make money online too.
5) Read Articles
Read relevant articles or books. Reading is a great way to learn more about tactics you want to incorporate into your business. A good book will cover things like how entrepreneurs in similar businesses solved their toughest problems, what best practices are and what tactics are most effective, as well as give you tips on how you can do some research on your own.
