As 2021 comes to a close, many of us plan our personal, financial, and business goals for the new year. For many small-business owners, this is a good time to make a plan for maintaining and growing a business for the future.
As small businesses look to 2022, what are the things they should do now to ensure growth?
- If available, be open to hiring remote employees. You can attract the best talent regardless of their geographic location and can reduce overhead by needing less office space.
- Have a disaster recovery plan. 2020 taught us to expect the unexpected, and businesses which were not prepared to adapt failed. Are your on-site employees able to transition to remote work, if necessary?
- Cybersecurity has never been more critical. Is your data backed up and secure?
- Make sure you have cash available. With so much uncertainty, either have a significant savings balance or consider establishing or increasing a line-of-credit for the company to make sure cash flow demands can be met.
What are the key factors in building on your client base?
- Start with client retention. The best sources of new clients are happy existing clients. To keep your current clients happy, go above and beyond. Businesses managed to get by on the “minimum viable product” during the pandemic, but now the service level will be more important than ever.
- If possible, seek recommendations online. Referrals might be the best source of new business, but if you’re looking to grow through advertising and social media, solid reviews are key.
- For new client acquisition, play to your greatest strengths. Keep doing what’s worked to drive new business, increase what works to the extent possible, and stop spinning your wheels on less-successful strategies.
What are the key factors in maintaining and keeping your client base?
- Communicate effectively and often, and transparently. Especially in a personal service business, staying on top of what is going on in the news and communicating important updates to clients gives them peace of mind and a feeling of being supported.
- Appreciation. This has been a tough 18 months for everyone. Let your clients know how much you appreciate them and ask them what you can do to support or serve them better.
We at ShopShipShake have been working with businesses like yours with fulfilling experiences. We offer one-stop services, including an efficient supply chain, over 10 thousand of China’s suppliers, and more.
With a successful track record of over 20,000 clients, we are sure to deliver your orders requirements. Let’s get in touch to build, sustain, and grow your businesses.
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