So, you’re finally able to realize your most cherished dream
– that of becoming an entrepreneur. The good news is that you can give yourself
a pat on the back and feel mighty proud. Lots of people dream of becoming an
entrepreneur. Not everyone does. The bad news, however, is that this is just
the beginning and you’ve a long road ahead.
The first thing you need to figure out after starting a
business, big or small, is its readiness to compete in the 21st
century. The days when mom and pop shops used to thrive and word of mouth was
the only way to advertise your business are long gone.
The demands of a 21st century business enterprise
are very different and you can either keep pace or get left out. What’s it
going to be? I think we both know the answer to that, so let me give you some
pointers on staying competitive in the 21st century.
1. Build a website
There cannot be anything more 21st century than
having a web property. Just think about it. Your friend tells you of this great
retail store that sells exotic spices. Aren’t you a little bit curious to find
out what it’s about before actually making a trip down to the store? If you’re
anything like me, the first thing you’d do after that conversation is go online
to check the store out.
For a lot of shoppers, purchasing decisions are made while
researching on the web and that’s not something you want to miss out on by not
having a website. There are many other benefits of having a website such as:
·
It’s a great platform to showcase your work to a
large audience. When you use your website as a promotional tool, you’re
catering to a worldwide audience as opposed to other promotional channels like
television commercials, flyers, radio spots, etc. that are more local.
·
Creating and maintaining a website is much more
economical than traditional forms of advertising and marketing and there’s no
limit to the amount of information you can share with your target audience.
·
At some point, you can build an e-commerce
platform and start selling your products and/or services through your website.
Just assume that more and more people are likely to start shopping sitting on
their couch in the future.
2. Start processing
credit cards
If you’ve a “cash-only” policy for your small business,
here’s something you may find
interesting.Community Merchants U.S.A. has projected that cash point of
sale purchases will drop to 23% by 2017. The
survey
also reported that 58% of small businesses are regularly asked by their
customers to accept credit card payment.
Now think back to the last time you saw a look of
frustration on a customer’s face when you told them you don’t accept credit
cards. Did it happen last evening? This morning?Just a few minutes ago? What if
the customer does not have the required cash? That means you end up losing business
that was yours for the taking.
There’s no reason for a small business to not have a
credit card processing system
in this day and age. Not only will you be able to attract more customers and
hence more business, but setting up credit card processing will also benefit
you in various other ways such as:
- ·
People who shop with credit cards end up making
many more impulse purchases than those who shop with cash.
- ·
Your checkout process will become much faster
once you start accepting credit cards and lead to higher customer satisfaction.
- ·
Let’s face it. Accepting credit cards is a lot
more convenient than taking cash payments or the even more obsolete check not
to mention more secure.
3. Register your business
in local directories
There was a time when getting your business listed on the
Yellow Pages was one of the most effective ways of generating leads. I am not
saying that it’s not anymore, but I personally don’t know of too many people
who search for businesses on printed Yellow Pages nowadays. Why? Because it’s
much easier and faster to do it online.
Say you’re out shopping with your kids in an unfamiliar
neighborhood and they ask for pizza. What do you do? Simple – you go to the Google
Maps app on your smartphone and look for pizza parlors in the area. One press
of a button will provide you various options and then some.
Do you want to miss out on that kind of impromptu business?
I guess not. So, register your small business with local directories like
Google Local, Yahoo Local, Yelp.com, YellowPages.com, etc. and enjoy benefits
like:
·
By registering your business in online directories, you’ll be able to generate local leads and attract more customers.
Google Local allows customers to write reviews of the businesses listed with them. It’s a great way to advertise your business.
Internet marketing is recognized as one of the most effective and budget-friendly ways to promote a business. Listing your business with a local directory is an important component of an integrated online marketing plan.
To stay relevant and competitive in today’s marketplace, you
need to get with times. These are three simple and not very expensive ways to
make your small business 21st century-ready. Your business may be
small, but your aspirations need not be!
Pitch:
Starting a small business is just the first step to becoming
a successful entrepreneur. There are many more to follow if you want to stay
competitive and one of them is to make sure your small business is ready for
the 21st century. How do you ensure that? Read this post to find out…