5 ways you can become a better business owner
All entrepreneurs want to be successful and to build brands that make a real difference; it’s why we do what we do. As a small business owner, there are so many things that you need to take into consideration – not only delivering a great service to customers, but managing a team, looking after your books, and growing your business. Although we don’t have all of the answers in this article, we’ve rounded up some tips on becoming a better business owner.
Listen to your staff
Perhaps one of the easiest ways to change your fortunes and become a more successful and well-respected business owner is to listen to your staff. The chances are that your staff know more about the day-to-day running of your business than you do, and can not only offer you some pointers to make positive changes but also help you properly understand your customer base. Listen to their feedback and make sure they feel valued and respected.
Understand your customers
Next up, you need to properly understand your customer base. What do they want? Why do they buy from you? How can you serve them better? Speak to them on a human level – if you run a customer-facing business, that could mean you serve on the shop floor for the day to get a feel for how it all works. The more knowledge you have, the better a boss you’ll be.
Know when to outsource
One of the most common mistakes small business owners make is trying to do everything on their own. The truth is that, even if you dedicated 16 hours a day, seven days a week to your business, you’d still not have enough time to get everything done. Know when to delegate and when to outsource tasks to others. Working with an FM provider, for example, means that you wouldn’t have to worry about cleaning, maintenance, and security, giving you less to worry about and more time to focus on high-impact projects that will increase your revenues.
Build your personal brand
Another way to become a better business owner is to focus on your personal branding and remember that people are buying from you, as well as your brand. Invest in LinkedIn, posting content on a regular basis, and don’t overlook the importance of copywriting and PR to spread the word about your achievements and projects. Positioning yourself as an authority might not come naturally to you, but it can offer you some significant benefits; don’t miss out.
Make time for yourself
Finally, remember that being a good business owner is about much more than generating revenue and winning awards – it’s about being a well-rounded person. Know when to take time off work and set aside afternoons where you can catch up with friends and family. It’s so important to separate your work life from your personal life and remember that time off can give you more motivation and stamina for when you are needed to perform at your best.
Do you have other tips? Let us know in the comments and check back to Money Paper soon for more.