Leaving the paid workforce and starting out on your own is thrilling, and in the beginning stages, everything about your business is exciting and new. You’re motivated, passionate and ready to succeed, but what happens when the honeymoon period is over? Maybe sales have levelled off, or you aren’t seeing the growth you expected. Perhaps you’ve realised that being the boss isn’t all that you thought it would be? Here are 5 tips to help ensure your business gets past this stage.
5 Tips to Improve an Established Business
- Know the Numbers – Time and again we see small business owners who simply aren’t keeping score. You need to know your monthly, weekly and even daily numbers if you have any hope of understanding (and responding to) the financial trends of your business. Knowing the numbers gives you a starting line to launch from.
- Set New Goals – When your business began you were excited because you were focussed on reaching your goals. Now you’ve established the business it’s time to focus on your next steps. What do you want the business to achieve? Think big, make a solid plan, and start moving toward your next big business achievement.
- Refresh or Rebrand – A branding makeover is a great way to breathe new life into a business, particularly an older one. But if you’re not ready for a step that big, something as simple as redesigning your marketing materials or revamping your website can spark excitement for your business again – in both you and your customers.
- Take a Leap – Is it time to get out of your marketing comfort zone? Owners of established businesses are less likely to take risks with their marketing dollars, and usually end up in a rut as a result. Take a look at where your marketing dollars are being spent, cut out ineffective channels and explore new avenues to jumpstart your business again.
- Be a Motivator – If you’re feeling less than enthusiastic about your business, chances are that your staff are feeling it too. Surrounding yourself with talented people, is one of the best ways to find business success, but if they aren’t motivated you won’t be getting their best work, so take some time out to encourage them to do their best.
Need some help bringing your business back to life? The team at Kwik Kopy can revamp your marketing materials, help create innovative new marketing strategies, and so much more. Contact your local store today to find out how we can inject new life into your business.
Or if you are looking at becoming your own boss (in an established, supportive franchise system), contact Kwik Kopy today. We have established businesses for sale throughout Australia.