No matter how skilled you are as an accountant, resume writer, or baker, your small business can face serious challenges if you lack a solid understanding of business operations.  

Once you’ve obtained the necessary permits, licenses, and incorporation papers and started offering a legitimate product or service, you’re officially a business owner. However, sustaining and growing a successful business takes much more than just the initial setup.  

Failing to address crucial administrative tasks like bookkeeping or maintaining strong supplier relationships can create obstacles that threaten your business’s success. Many new businesses fail because they lack a clear marketing plan, don’t have a strategy to scale as demand grows, or offer a product or service that doesn’t meet market needs.  

Statistics from the Small Business Administration (SBA) in 2019 show that about 20% of startups fail within their first year, and nearly half close within five years.  

To help ensure your business thrives and avoids becoming another statistic, here are 20 practical tips:  

20 Tips for Small Business Owners

1. Stay Organized.  

Good organization can be the difference between success and failure.  

Keep accurate financial records: Record all transactions, including customer payments and vendor invoices, at least weekly. This helps you track profits and prepare for taxes.  

Set and stick to deadlines: Use project management tools to manage tasks, assign responsibilities, and keep your team on track.  

Plan ahead: Schedule social media posts and automate email campaigns to stay consistent. Use tools like Slack or Zoom to streamline communication with your team.  

2. Be Flexible. 

Adaptability is key to staying relevant in a changing market.  

  Listen to customer feedback and be open to adjusting your approach.  

  If your product isn’t resonating with customers or the market is too small, be willing to pivot.  

  Update your website or strategies as needed to improve performance and meet customer
  needs.  

3. Automate Tasks.  

Automation saves time and reduces errors.  

  Use CRM tools to follow up with new contacts and leads automatically.  

  Automate routine tasks like bookkeeping and payroll with appropriate software.  

  Implement chatbots on your website for customer queries outside of business hours.  

4. Maintain a Personal Touch.

Stand out by offering a personalized experience.  

  Send handwritten thank-you notes or small gifts to customers.  

  Use CRM tools to track personal details about customers, such as special occasions, to
  provide thoughtful gestures.  

5. Protect Your Intellectual Property. 

Your business’s unique ideas and branding are valuable.  

  Protect trademarks, copyrights, and patents to prevent competitors from copying your work.  

  Seek legal advice when filing for trademarks or patents to ensure the process is handled
  correctly.  

6. Build a Great Website.

Your website is the face of your business.  

  Keep the design clean and professional, focusing on your brand’s value.  

  Use high-quality images and write compelling product descriptions that highlight benefits
  and tell a story.  

  Optimize for search engines (SEO) to attract more visitors.  

7. Create Unique Content. 

Share your story to connect with your audience.  

  Post authentic photos and videos of your business and team on social media.  

  Offer value through tutorials, lookbooks, or behind-the-scenes content.  

8. Use Data Analytics. 

Analytics provide insights into performance and growth opportunities.  

  Track customer behavior, website performance, and social media engagement.  

  Use data to refine your marketing strategy and improve operations.  

9. Cut Costs When Necessary.

Control expenses to stay financially healthy.  

  Identify areas where you can reduce spending, like switching to cost-effective suppliers or
  eliminating redundant tools.  

  Outsource tasks to save time and focus on strategic priorities.  

10. Limit Distractions.

Stay focused on your goals.  

  Use task management tools to prioritize daily to-do lists.  

  Avoid overextending your product line until your core offerings are established.  

11. Prioritize Customer Support. 

Accessible and responsive support builds loyalty.  

  Make it easy for customers to contact you through social media, email, or phone.  

  Keep customers informed about delays or changes to their orders.  

12. Deliver Memorable Experiences. 

Great service turns one-time buyers into repeat customers.  

  Set realistic expectations and follow through on promises.  

  Offer personalized and consistent service to stand out from competitors.  

13. Embrace Omnichannel Marketing.

Provide a seamless experience across platforms.  

  Maintain consistent branding across social media and your website.  

  Focus on a few key channels to deliver a high-quality experience.  

14. Study Competitors.  

Learn from your competitors to improve your business.  

  Analyze their strengths, weaknesses, and strategies.  

  Identify gaps in their offerings where you can stand out.  

15. Find Your Niche. 

Specializing helps define your value proposition and audience.  

  Narrow your focus to a specific market need or audience to differentiate yourself.  

16. Provide Excellent Customer Service.

Friendly and efficient service strengthens customer relationships.  

  Use scripts for common inquiries and maintain a consistent brand voice.  

  Provide resources like FAQs and chatbots for self-service options.  

17. Build a Strong Team.

Surround yourself with people who believe in your vision.  

  Hire employees who are passionate about your business and its growth.  

  Use tailored application processes to find the best candidates.  

18. Stay Current with Marketing Trends.

Keep up with changes in marketing and advertising.  

  Adapt your strategies to trends like video content or one-to-one marketing.  

  Stay informed about algorithm changes on social platforms.  

19. Stay Passionate. 

Your enthusiasm can inspire others.  

  Remember why you started your business and stay motivated during challenges.  

  Share your passion with employees, investors, and customers.  

20. Enjoy the Journey.

Running a business should be fulfilling.  

  Embrace the challenges as learning experiences.  

  Celebrate milestones and take pride in your accomplishments.  

Final Thoughts

Success looks different for every business. Set goals that reflect your stage of growth, whether it’s achieving profitability in the first year or expanding into new markets later on. By staying focused, adaptable, and passionate, you can build a thriving business that stands the test of time.