10 BUSINESS TIPS FOR SMALL BUSINESS OWNERS – Australian Women Entrepreneurs

According to the latest report, Australia ranks among the ten leading global marketplace for women entrepreneurs with over 34 percent of total female entrepreneurship. According to the Australian Bureau of Statistics, 12.1% of Australia’s 5.9 million employed women are now self-employed. Women are running more than 1/3rd of all small businesses as an owner.

A piece of extensive information and expertise is required to become a successful businesswoman. To flourish your business and to be a successful women entrepreneur, you should follow some worldwide accepted ideas. In this blog, you will find the top 10 business tips for small business owners.

 

 

Tip 1: Technology and Networking:

In Australia, 8 out of ten women entrepreneurs believe that technology and social media is proved to be effective to grow their small businesses.  In this technology-dominated society, networking and the creation of new connections have become crucial. Technology not only helps to contact potential customers or partners but also provides ideas, experiences, and expertise to achieve a new goal for your small business.

If your association with the people will be more, the more likely you are to discover new ideas to turn Australian business profitable. For a successful business, you should use technology, which is a cheap way for small businesses. Create a website or Facebook page and promote your business through social media.

Tip 2: Get Feedback from your customers:

It is essential to get feedback and reviews from your customers to grow your business. Positive reviews and constructive criticism from your clients can be beneficial for your small business. Encourage your clients to engage with you through social networking, customer support, or direct contact. You can display feedback of satisfied customers related to business to your potential clients.

Tip # 3:  Get Direction from Experts- for free

You can get advice from experts for free. Many business experts will feel happy to assist the small business owners if you communicate politely to them. For this purpose, LinkedIn is an excellent forum to ask for advice. Some websites or blogs can also provide advice related to business such as this blog providing tips for small business owners.

 

 

Tip 4: Flexibility is vital:

Being a small business owner, you should evaluate your company’s performance on regular basis and implement changes if required. Face the positive and constructive feedback if a business is not running according to your plans. Try to learn from customer feedback and make changes to your plans or products. This flexibility will help to run the business successfully.

Tip 5: Stay focused on your goal

Don’t ever lose sight of the reason to initiate your business. Ups and downs are part of a business. Whenever you get success or face failure, stay focused on your goal. Do not forget the purpose to start your business. Remember that journey on the way of business is full of challenges, risks failure, and success also. If you ever face downtime then learn from experiences or mistakes and don’t move back or away from your path.

Tip 6: Don’t bid less, give more

Reducing the cost of products in competition with large businesses is a foul game. Instead of reducing the prices of your products, try to compete with competitors through quality products, marketing strategy, product awareness, and customer support. Always address the issues of customers and target the benefits you are going to provide.

Tip 7: Spot-on payment system:

To manage the everyday activities and operations in your business, a steady cash flow is required. For this purpose, paid invoices are used. You must have a spot-on payment system that will help you to issue a professional receipt and provide information on the date and timing of payment. In this way, your business will be organized.

Tip 8: Plan a marketing strategy

Running a successful business requires a great marketing strategy. Sometimes, small business owners don’t fully comprehend the concept of marketing or lack the financial resources for marketing purposes. However, for business expansion and to attract more customers marketing is crucial. So, raise awareness and start advertising your product through digital marketing (Facebook or Google ads). You can hire a professional digital marketer for this purpose.

 

 

Tip 9: Analyze your competitors

It does not matter that your business is on a large scale or small, you will always have competitors. If you don’t have any competitor against your small business then it may be that product you are going to sell is not the need of customers. If you are selling any product then it is certain that some other business owner is selling the same or related products. So, analyze and do proper research about your competitors. Try to find that what products your competitors are selling and which way they are using to sell those products. In this way, you can find a better way to grow your small business.

Tip 10: Train your Employees

If you want to grow your business, make sure to hire expert people for your small business. After that try to engage your employees in business affairs by entrusting some responsibilities and control to your employees. It will help to polish the expertise and skills of the employees. An effective leader and owner should have the ability to share or teach her skills and experience to their employees. In this way, you can boost the sales of products and grow your small business.

In short, these are a few advice and tips for businesswomen running their small business which they can opt for easily. Some tips may be difficult to implement while some will be convenient for you ladies. If you want to run a successful business then don’t stay in your comfort zone, take the bold initiative to develop and improve your business.