How to Build a Better Business for the Future

In the wake of 2020, the world experienced one of the unusual periods in human history. We saw business owners and entrepreneurs counting losses around the globe. Companies were forced to make adjustments to stay afloat throughout the year.  In the last three quarters of 2021, we have witnessed signs of many businesses reopening, even though they still fear the uncertainties they face. Planning for an uncertain future can be challenging, but business owners must be ready to make decisions to stay in business and grow. 

How can small business owners build their businesses better?

1. Create a list of can-do’s

As an entrepreneur, you must have heard of a can-do attitude. If it is so, then it’s time to apply that can-do attitude to make a list. The list could be some of the realistic and attainable goals for 2021. You can begin by writing down what you plan to achieve in the short or long term. This could be anything from creating customer intimacy to increasing your revenue or expanding your market range, whatever you anticipated doing in 2021, put it down as the can-do’s and strive to work through them.

Also Read:

1. 8 Tips for Successful Family Business
2. Why MSMEs are still winning in the Kenyan Economy.
3. Are MSMEs the only hope left that can stop Mombasa Becoming a Ghost Town?

2. Be prepared for growth

Although this step can be daring at first, it is a vital step to getting the results you aim to achieve, staying true to your values while remembering the reason you started the business can make this step feel less exhilarating.  The entrepreneurial environment is full of networking events, mentors, advisors, and peers who have been through or are going through this transition. Having the right people around, both in and outside your company, will make a difference. Identify efficiencies in the business, including areas you can automate, and focus more on the areas that need your attention the most.

3. Modify your Marketing Strategy

Marketing is an element in business that keeps on changing. An entrepreneur always remembers, as the industry grows, new marketing trends get on board.

As a result, for any business owner to stay relevant, they must start utilizing the Evergreen Marketing Strategies. To do so, you must do more research to find out what works well for your business and what does not. You must have in mind how Covid-19 has changed how marketing is being carried out. For example, currently, online marketing is the way to go.

4.  Ensure you have a Business Website or an online presence.

In today’s market, having a good business website is a massive impact on success. At this age and time, the majority of customers will visit your website before making a purchase. Therefore, having an online presence especially the website adds more revenue.  E-commerce is practically gaining ground as a way of linking businesses and consumers thanks to Covid-19. However, for you to benefit from the large availability of online customers, you must consider several elements, including the following:

• Ensure that your website is user-friendly and compatible with various devices
• To drive more people to your website, ensure your pages are SEO compliant.
• Your brand proposition should be clear that every person understands what you are offering.
• Having customer testimonials will be an added advantage

5. Pay Attention to Customer Service.

Customer service is the driving force of any business. The way you serve your customers can reflect on how people will perceive your business. Customer service is not limited to boosting sales only, there is more to it.

To build your business with customer service you might want to consider the following:

• Customize or personalize purchasing experiences
• Always reward your loyal customers
• Pay attention to your customer concerns and act upon them as soon as you can.
• Always ask for feedback from the customer

6. Business protection:

Ensure your business is ready for the future by having business protection in place, this works by providing a financial cushion when you need it most.

That savings may be used to settle debts, replace profits, cover recruitment costs, or provide benefits to your employees and their families. It may even ensure you maintain control of your business in the event of a shareholder dropping out.

Also Read:

1. 8 Biggest reason why SOE is Important for Small Business In Kenya.
2. Kenya’s 2021-22 budget and its aim on MSMEs Fiscal accommodation.
3. Advice for Small businesses to succeed in the new financial year.

The process of recovering from a downfall is always hard, but it’s worth trying to make an effort. Most certainly, the coming years will come with a fair share of its challenges, but as an entrepreneur, taking it boldly and being ready to face them is the only way your business will keep growing.

Mombasa, Kenya.

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