5 Tips for Small Business Owners

  • January 31, 2020
  • By Sarah Solomon

REIL is dedicated to supporting small businesses and their owners.  As we work with small businesses every day, we have begun to realize why certain businesses succeed while others do not.  We frequently ask small business owners for advice they would give to those thinking about starting their very own business themselves.  Below are some of the tips other small business owners emphasize new small business owners should hone/ be aware of. 

Tip 1 

Build a brand.  Your small business will be representative of you, your employees, and the community/customers you serve.  Make sure the decisions you make align with your company’s vision and values. Integrate a strong mission statement and objectives and goals to be reached. This way, employees and those a part of your business make decisions that benefit your whole enterprise. 

Tip 2 

Appreciate that you are the owner of your own business.  You have the freedom to be creative, innovative, and pivot your business in a certain direction.   The reign is yours to take hold of. This is a unique position that not many get to uphold. Take advantage, be courageous, and most importantly be an outstanding leader. 

Tip 3 

Stay focused.  Running a small business can become a lot.  There are daily duties that need to be fulfilled and constant challenges that arise.  Regardless of what’s to come, remember to remain mindful and present. Be appreciative of what you are building and never lose sight of the ultimate goal: running a successful small business. 

Tip 4 

Teamwork makes the dreamwork.  A solid team is truly the foundation to running a successful business. Be sure to invest in the right people.  Reward those who exemplify your business correctly with important roles. Try to create relationships that go beyond professional ones.  Work is always better when you respect and admire those who work around and with you. 

Tip 5 

Make a habit out of showing your employees and customers you care.  Recognize people’s hard work and those customers who become loyal. Gestures such as flexible schedules or customer discounts make an extreme difference.  Employees and customers will want to continue to earn your business’s trust and loyalty. 

REIL Talk 

It’s one thing to be a small business owner.  Yet, it’s another to be a successful one. REIL is constantly encouraging small business owners to prosper and grow.  If you are in need of tips or funds to better your business, speak with one of our REIL representatives today. 

Leave a Reply