Six Ways a Small Business Can Thrive in 2020

By  //  June 22, 2020

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There’s no doubt about it, 2020 presents some challenges for businesses of every size. So this means that, in order to thrive, small businesses, especially, are going to have to be on top of their games.

But the thing that all smaller enterprises have in their favor is that they are far more flexible and adaptable than big organizations.

After all, we all know the well-used analogy of big ocean liners needing plenty of time to slow down and change direction, while little sailing boats can manoeuvre more quickly to fit in with the prevailing conditions.

So, with all this in mind, here are six great ways that you could well find yourself riding on the crest of a wave by the end of 2020.

1. Embrace digitization

There’s a lot been said and written about how digitization can transform a company – and it’s true. Of course, it goes way beyond just creating a website for your business.

It also encompasses what you can learn from how your customers use the site and their purchasing behavior.

Then there are the ways in which it can help to optimize processes and procedures in a business, freeing up employees to spend their time more productively and feeling more empowered to make a real difference to your success.

2. Pump up your lead generation

New leads are the lifeblood of every business. So being able to maintain a steady flow of them is critical. Some businesses, like the start-up Givr Packaging, find that they can achieve this without any dedicated sales staff. If you are clever about it, perhaps you could too.

One of the best ways of doing this is by investing in a helpful service like Lusha to ensure that you have plentiful and accurate contact data for new leads.

In fact, this can even work alongside any existing CRM programs you may have to maximize their efficiency too.

3. Encourage remote working

Another key trend that has emerged more recently in the business world of 2020, is the growth of remote working. With software like Zoom and Microsoft Teams becoming more and more widely used, there are plenty of ways to keep in touch with staff.

And, spared the usual commute and empowered to enjoy more of a work-life balance, this is likely to show up in increased productivity and greater job satisfaction generally.

4. Make customer service a priority

It’s always been said that the customer is king, or queen, and that’s never been more true than it is today. So, any business that wants to continue along a path of success will make treating them royally a priority.

This is especially true in an age when there are many platforms to review a business’s performance, from Tripadvisor to Trustpilot.

So, if you get customer service right – everyone will know about it. Unfortunately, the opposite is also equally true.

It may be that you could be leading potential customers to some killer content on your website or even running promotions and other competitions on Facebook. It’s also one of the most effective, not to mention cheapest, ways to get your name widely known.

5. Use social media

Any business that is not already using social media is undoubtedly already some way behind the curve. But even if you already have an established presence, are you sure that it can’t be improved?

Maybe you’re not exploiting the whole range of social media opportunities available, or perhaps you’re not making full use of them.

It may be that you could be leading potential customers to some killer content on your website or even running promotions and other competitions on Facebook. It’s also one of the most effective, not to mention cheapest, ways to get your name widely known.

6. Hire the very best

Our final point may be an obvious one, but it’s also one that’s well worth making. A business is only ever going to be as good as the people who work for it. So, when it comes to hiring, pick the very best. It’s easier than ever before to find them, for example through LinkedIn.

They don’t even have to be permanent staff  – if you visit sites like Upwork, for example, you’ll find the pick of freelance talent to bring in as and when you need it.

So, armed with these six tips, you should be in a good place to make 2020 a great year for your business. Now’s the time to start putting them into practice!

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