Are you looking for ways to support a small business that you love? Well, here are four tips to get you started and also some tips for fellow entrepreneurs to get the support you need to push that cash flow out of the red.
Be Ready to Grow with Them
Nothing shows support more than customers who follow your lead as your business evolves and grows. Even if this growth and shift means they have to do more, they just roll with you. When I started retainers, I so appreciated the clients who were like “Ok, I have to step my budget up so I can get on board” versus “I need to find me another designer who can sustain with whatever I order because hey aren’t we supposed to stay small?”
Know that Support Doesn’t Always Have to Cost a Thing
You don’t have to buy the most expensive product or service to support. Sometimes you don’t even have to buy anything at all. While these things don’t always lead to increased business or leads, it is still support. So post that review or testimonial, take a pic in/with that product, Shout them out on social media, share their posts, send them a tip, support their Patreon or crowdfunding campaign. Sort their products on their website and find the cheapest thing they sell and buy one a month (or every few months depending on the cost). Attend that event, webinar or free class they offer. Download that free eBook and tell a friend where they can get their freebie too. Visit their website and read their blog or visit their YouTube and watch one of their videos. Gift their products and services to others when you may not be in need of them.
Order a Product or Service that the Business Provides and Pay Them on Time
Be a Great Client and Share the Business to Great Potential Future Clients.
Lead by example! There is nothing harder than dodging client referrals from clients who are either problematic or past due/always late clients themselves. You know your own circle better than anyone so share with people who won’t cause 3rd party embarrassment later.
When I added retainers to my business it was simply to survive that small business slump. You can’t sustain a business and justify doing it when you don’t have clients who order on a consistent basis or have no budget. At that point, it’s just a side hustle whose revenue you will never be able to depend on because clients will go months or longer in between orders.
And if you are a small business with real overhead (location, major equipment etc.) it’s not even possible to be able to make it without financing it with a real 9-5 while you try to make it work.
I salute anyone who does it and keeps going because I know behind the scenes things aren’t always social media pretty and if you’re still choosing entrepreneurship, then kudos to you for pushing through everyday.
Be A Tribe Customer
I saw a video on IG about knowing how to tell the difference between Real Customers or clients and it was giving examples of things that a business will do that the real deal customers will roll right along with if they are real. From following a brick and mortar business to a new location to not fleeing when prices increase, there are so many ways to support a small business. And if you are a business owner yourself, you know that support sometimes comes with caveats.
I will give you another example. With my women’s blog, Connected Woman Magazine, I have featured many women for over a decade. But the blog was a passion project and not monetized. I had no problem finding women to feature and our inbox stayed full of requests to be featured. But after running into too many people requesting features and then flaking out after I have taken the time to build an interview or PR agencies sending every client my way but then not promoting the feature and only adding it to their bio, I monetized the entire process this year. And guess what happened? Not a single request to be featured since the day the monetization came on. Now that my time can’t be wasted, no one finds any value in the blog and is interested in being featured. And so, I learned that no matter how much support or work you put into it, those people still may not be your tribe. I did a survey before the monetization and people actually admitted they had never even visited the website and had no desire to (because there were no constant freebies etc. was one comment)- and these were people who had actually been featured.
So be someone’s customer tribe and if you have your own business, find yours.
Hey Entrepreneurs, I hear you. We have to have tips to build our businesses too.
Is your small business struggling to make enough profit to pay the bills? Living paycheck to paycheck can be quite frustrating. Perhaps you started a small business so you could pursue your dream while earning money at the same time. If so, then you know that it isn’t always easy to get a small business to bring in the profits you’d like.
However, if you’re willing to work hard and have a good plan, there’s no limit to how far you can take your small business. Luckily, there are many ways to increase your current cash flow and free you from the threat of financial disaster.
Here are three tips for entrepreneurs to Increase Cash Flow:
- Collect feedback. Many small business owners forget the importance of soliciting feedback from their clients. There are several effective ways to find out what your clients think about your products and services.
- Ask the client to fill out a quick survey or questionnaire to rate various aspects of your business. These surveys can provide an excellent glimpse into your client’s point of view. There are many different websites that enable you to create simple surveys. Look online to find one that meets your needs.
- Follow up with your clients with a phone-call or email asking for comments about your products or services. Inquire about which aspects they are satisfied with and which need some work.
- Talk to your clients in person and ask them how they feel about their experiences with your business.
- Remember, word of mouth is one of the best ways to advertise your business. If you have a bunch of satisfied customers, they’ll tell their friends and family about their positive experience and you’ll get more business.
- Get rid of products that don’t sell. It’s likely that you offer your customers a wide variety of products, but only a few of these products bring you maximum profit.
- Sometimes a large inventory can work against your business. Customers often avoid buying altogether when they’re overwhelmed with options.
- Instead of offering more products that likely won’t be sold, trash the unattractive products and offer more items or services related to your best-sellers. This is an excellent way to boost sales while reducing upkeep and inventory costs.
- Pursue unique marketing strategies. If your business is experiencing a steep drop in sales, there must be a reason. It could be that your marketing techniques are simply not as effective as you thought. Consider alternative marketing techniques.
- Think about marketing your business online. It’s becoming easier with each passing day and more people are prone to search the internet for better deals. Businesses that have online order options are often much more successful. It’s a perfect way to increase cash flow.
- Get the word out. Take advantage of social media sites like Facebook and Twitter to promote your business.
- Radio advertisements, commercials, billboards, and flyers all increase the visibility of your business. Sometimes, door-to-door marketing is just as effective.
By using these strategies you can boost sales and increase the revenue of your business. Once these strategies have been implemented, there will be no need to worry about how you’re going to pay the next bill. You’ll finally have the money to live the life that you’ve dreamed of.
It just requires determination, persistence, creativity, and an open mind to make your business successful. Test different strategies and stick to the ones that work best for you. Your efforts will be worth it once you see those increased profits.
Put these to work for you and it may help you or someone you know sustain the last six months of this year!
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