Ten Top Tips for SME’s
At the start of 2020, it was estimated that there are 5.94 million small and medium enterprises in the UK. With so much competition, how can you make sure you succeed? We’ve put together a list of key considerations for your business:
Organisation is key
Time is money! Wasting time counterintuitive to the smooth running of any business. Specific inboxes for new enquiries, filing systems and tracking of bills are just some of the ways that organisation can be achieved, saving valuable minutes. This will improve overall operation, whilst time saved can be spent on more important tasks.
Social Media Presence
Social media has become a key point of contact with consumers, becoming increasingly apparent as we try to connect with a millennial marketplace. Regularly updating social channels with business activity, industry news and events keeps your brand in the mind of consumers by regularly appearing on news feeds. The tone and theme of social posts should reflect that of the business, whilst also encouraging engagement.
Content, Content, Content
Getting the attention of your audience is always going to be a pivotal factor to success. Your social media, website and blogs, should reflect the unique perspective of your brand. The content you generate communicates your message, whilst educating your readers about your business, ensuring they choose you over competitors.
Learn from your customers
Customers are the most valuable source of information to any SME. Reaching out and talking to them about their experience is the best way to understand what you did that made them chose you over the competition. Equally, taking onboard negative reviews and handling these in a sensitive nature can turn them into an opportunity to improve your brand.
Be bold, be brave, but be true to your business
Starting and running a business is a daunting task, but walking against the crowd can reap huge rewards; demonstrating the commitment to what the business does. Whilst bold decisions can be what makes you unique, it is important you maintain your original mission and objectives, staying true to what it is you set out to achieve.
Get to know SEO
So, your business is now organised, you have a strong social media presence and you’re producing great content, but traffic to your website is poor. This is where SEO is crucial. Increasing your visibility online can garner attention for your business, and more importantly lead you to prospective clients. Using Google key words and ads can boost your website whilst you build an established digital existence. Look out for MOB’s ‘How to: SEO’ blog coming soon to our website.
Build a great team
Filling your business with like-minded individuals who are willing to work towards the business vision and goals will contribute to a seamless operation. Recruiting people that fit within team culture and have the right expertise will ensure an efficient and hardworking team.
Outsource where you can
Outsourcing tasks that are time consuming and require a lot of resources can allow you to operate whilst having essential tasks completed simultaneously. Accounting, for example, is quick and efficient to outsource meaning there is no need for you to lose valuable team members to the task during accounts season.
Look after existing customers
Building your client base is important for all businesses, but this should never be at the expense of your existing loyal customers. Repeat business is key. A good after sales service is equally important, ensuring customers feel looked after, cementing a positive reputation in the process.
Sharp focus is essential to success. It will allow you to think clearly and visualise where you want your business to be in the long term; maintaining the goals you set out to achieve along with both short and long-term objectives.