Did you know that 99.9% of businesses in the US are small businesses? This is likely because the sector experienced unprecedented growth during the pandemic, wherein a lack of job security encouraged individuals to seek out new income streams. While this means there’s always an opportunity out there to become a successful business person in your own right, it also means you’re faced with harsh competition from the get-go.
As such, you have to be willing to work hard in order to set your business up for success. Especially with the new year approaching and more businesses popping up each day. With that in mind, here are some simple steps you can follow to give your business the best chance of success in 2023.
WORK ON YOUR ONLINE PRESENCE
Cultivating a strong online presence, and improving your digital branding is one of the most fool-proof methods of business expansion in the digital age. This is because the majority of consumers will check out a brand’s online presence before committing to a purchase.
Now is the perfect time to update your website and blog. Ensuring that you are using SEO best practices when curating content. Furthermore, your online presence is very much a numbers game when it comes to social media, which means you should also find ways to up engagement (likes/comments/shares) on your posts across all platforms.
TAKE SECURITY SERIOUSLY
Another way in which you can future-proof your business for success is by making sure you take security seriously. Do not assume that because your business is on the smaller side, you will not be targeted by thieves or hackers. In fact, being a smaller business could leave you more vulnerable to these attacks, as it will appear as though you lack the resources/investments to protect your business.
Thankfully, there are various ways in which you can increase your security protocols. For example, you can install security doors throughout the premises, which help to thwart break-in attempts. You should also ensure all staff receive adequate safety training.
REWORK YOUR BUSINESS PLAN
As we move into the new year, it’s important that you take some time out of your daily routine to rework your business plan. This is because you must be proactive in your approach to running your business. Meaning you cannot use the same plan during each stage of your development – as the challenges you encounter will change.
Start by setting yourself new goals for the year. Whether you’re looking to expand your workforce or the amount of products you have on offer. Once you’ve figured out these goals, think carefully about the steps you must take to achieve them. Be as specific as possible so that yourself and your team have a framework to follow that will put you on the path to prosperity. The more detail you include in your business plan, the better – though you should also be prepared to go off the book and take a risk when necessary.