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Will Your Small Business Succeed? - There Are No Guarantees

September 21, 2018

 

Owning your own business is a lot different than thinking about owning your own business. Countless small business owners I have coached over the years have experienced this. When people are thinking about owning their own business they paint the picture a certain way.

 

Service providers in caring professions often visualize how they will make the world a better place. They know the service they provide is needed. And they probably feel that they will do a better job than their competition because of the passion they have.

 

The truth is they may be right about that. But will their business be successful? Will the business be sustainable? Is it going to provide the income they need and desire?

 

There Are No Guarantees!

 

Having a strong passion is great but it will not ensure that all of your needs will be met. Likewise, providing a service that people need is wonderful. But what if they are not aware that your business exists? And yes, you may provide a better service than your competition but again, do people know about your business?

 

How to Compete in a Crowded World

 

 

I work with a lot of what I call heart-centered professionals. They own small assisted living homes and home care companies. Some are elder law attorneys, life coaches, and speakers. They usually have a very small staff and often the owner wears many hats. And their budget is a small fraction of what some of the larger companies have available. So how do they compete?

 

Work Smarter- Dig Deep

 

The great news is a small business often has advantages over the larger companies.  That large assisted living facility that has a new marketer every year has a much harder time of building relationships that their counterpart in the small assisted living home. And let’s face it, the key is relationships. People do business with people they know, like and trust.

 

Marketing Your Business in Not Just Important, It Is Critical

 

This is as important as anything else you do. And it needs to be consistent.  You need to be visible, both online and off. This needs to happen day in and day out.  And no there is no real way to measure the success of each of your marketing efforts. The truth is people have to see, hear or experience your message at least 17 times before they will consider your company. And they will only tell you about the last time

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Using Social Media to Amplify Your Message Makes Sense

 

 

Let’s face it, there are only so many hours in a day. Using social media, allows you to follow up with referral sources and broadcast your passion and your message to more people. And with social media you can also maximize your time and your money. This is music to the ears of small business owners.

 

So Why Do  Small Business Owners Balk When Spending $$ On Social Media

 

Small business owners want to know that their hard-earned dollars are going to yield results.

 

I get it!  Starting and running a small business takes a lot of money and hard work. And the buck stops here. As the owner, every investment you make in your business is basically coming right out of your pocket.

 

As a small business owner for the past 25 years, I have started and sold several business ventures.  And I  learned along the way that trying to figure out exactly where each client came from is futile. It is a complete waste of my time. Also, I discovered that as long as I was consistent with my message. And  I was also consistent with my marketing efforts, my business would continue to grow. Of course, I always had a strategy and a plan to follow.

 

"I Thought Social Media Was Free!"

 

 

I have heard this complaint a lot. And even those business owners who do not say this aloud often are still thinking it really shouldn’t cost.

 

Social Media is not free to market your business. It will cost you either time or money or some of both.  The more time you are willing to invest, the fewer $$ you will have to spend. And even with advertising, it is a lot less expensive than other means of marketing.

 

Social Media Is Not Going Away

 

The truth is this new way of marketing is here to stay. Your competition is climbing on board, will you?

 

 

Kathryn Watson is a Social Media Strategist. Contact Kathryn to learn how to market your business or to hire the Marketing Your Care Team to help your business grow.

 

Sign up for a 30-minute complimentary consultation.

 

 

 

 

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