Running a business today means letting go of old methods that may no longer work. Traditional sales tactics might not be as effective, and as businesses adjust to meet evolving customer needs, the key to success is adaptability.
As small business owners look ahead, 48% believe economic uncertainty will be a challenge, while nearly half (45%) worry about attracting new customers, according to research from online marketing company LocaliQ.
While some factors are beyond a business owner’s control, many consumers are still willing to spend. If you’re wondering whether this is the right time to start a business, the answer is yes. Use these 10 practical business strategies—featuring advice from entrepreneurs—to set yourself up for success.
1. Focus on a Niche
Large companies like Amazon can sell products in multiple markets because they have the resources to invest in branding, marketing, and customer service. Small business owners, on the other hand, need a more focused approach.
“You absolutely have to understand your niche,” said Simon Donato, founder of Stoked Oats, on the Shopify Masters podcast. “We started with a strong community of health-conscious, athletic individuals. Over time, we expanded, but having that niche helped us grow.”
Tools like Keywords Everywhere can help small business owners identify high-potential niche markets to target.
2. Build a Strong Brand
A strong brand communicates your company’s values, mission, and personality, helping it stand out from the competition. Define what makes your business unique and maintain consistent branding elements—such as your business name, logo, colors, and messaging—across all platforms.
“Pick one key aspect of your brand and repeat that story everywhere—on your website, social media, email, SMS, and even in your elevator pitch,” said Claudia Snoh, cofounder of coffee concentrate company Kloo.
3. Make Buying Simple
Customers are busy, so making the buying process as easy as possible is crucial. A smooth shopping experience can boost conversions.
Streamline your checkout process by reducing the number of form fields, eliminating unnecessary steps, and clearly displaying the order summary. Offer multiple payment options to make checkout more accessible.
Using a system like Shop Pay can help. Research from a major global consulting firm found that Shop Pay increases checkout conversions by up to 50% compared to guest checkout and outperforms other fast checkout tools by at least 10%.
4. Cut Unnecessary Costs
Every dollar matters for a small business, so reducing expenses can improve financial health. Track where your money is going and find areas to cut costs. Accounting software can help categorize expenses and identify potential savings.
Consider cutting shipping costs, canceling unused software subscriptions, sharing office space, or buying used equipment instead of new. If you run an online store, working with a wholesale supplier can also reduce costs.
Some businesses use creative marketing to save money. Good Girl Snacks, a pickle brand, increased brand awareness by leveraging influencer marketing without paying for promotions. “We gift products instead of paying influencers, which has generated buzz and sales while keeping customer acquisition costs at zero,” said cofounder Leah Marcus.
5. Stay Updated on Marketing Trends
Your business can only grow if potential customers know about it, which is why staying on top of marketing trends is essential. Keeping up with the latest strategies can help you engage your audience and increase brand visibility.
Follow industry experts on LinkedIn, network with professionals online and in person, read marketing blogs, listen to podcasts, and attend conferences. Also, observe competitors to see what type of content resonates with audiences similar to yours.
6. Build a Loyal Community
Small businesses can’t always compete with big corporations on price or convenience, so focusing on community-building can be a key advantage. Loyal customers who feel connected to your brand are more likely to support and promote it.
Be consistent on social media and through email marketing. Share your business journey, celebrate milestones, and listen to customer feedback. Engaging with your audience fosters trust and long-term relationships.
“It’s about enhancing different communities rather than claiming to be the community,” said Nick West, cofounder of running apparel company Bandit. “The community is bigger than Bandit, but we can contribute to its growth.”
7. Create Engaging Content
Content connects you with your audience. It informs, builds trust, and ultimately leads to sales. However, quality is more important than quantity.
“Great content doesn’t feel like education—it naturally draws people in,” said Aliyah Marandiz, founder of beauty brand Sugardoh. “People get hooked by the visual appeal, and by the end, they realize they’ve learned something valuable.”
Focus on creating engaging, useful, and authentic content that speaks to your audience’s interests and needs.
8. Build and Use an Email List
Email marketing is one of the most effective ways to drive sales, but it only works if you have an engaged list of subscribers. Start collecting email addresses from the beginning, using sign-up forms on your website.
For The Body Deli, a beauty brand, a strong email strategy helped build a six-figure subscriber list and became a major revenue driver. “If someone joins your email list, they’re interested in your business or product,” said cofounder David Anton Parker. “It’s up to you to nurture that relationship and keep them engaged.”
9. Solve Real Problems
The most successful businesses address real problems their customers face.
Julie Carty, founder of LatchLight, created her product based on personal experience. “As a new mom, I hated my bedside lighting setup,” she said. “Even though I had what was considered the ‘best’ lighting, it wasn’t practical for my needs.” She refined her idea based on feedback from other mothers and lactation specialists.
Ask yourself what frustrations or challenges your customers face. Use surveys, social media, and direct conversations to understand their pain points, then create products or services that provide real solutions.
10. Delegate Time-Consuming Tasks
Even if you’re running your business alone, you don’t have to do everything yourself. Tasks like bookkeeping, social media scheduling, and customer service can take up valuable time that could be spent on growth and strategy.
If you have the budget, hire freelancers or employees to handle certain responsibilities. If not, take advantage of automation tools like chatbots for customer support or AI-driven content optimization tools.
Your time is best spent on tasks that only you, as the business owner, can do—such as building relationships, refining your strategy, and leading your company forward.
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