Become the Exception and Not the Rule: Tips for Business Success

As you are probably aware of, owning and managing your own business is no easy feat. According to Forbes Magazine, 8 out of 10 businesses fail within the first 18 months. This staggering number is due to a number of causes, many of which can be prevented by taking the right steps to ensure that your business stays on track. You certainly do not want to be part of the above statistic. Not only do you lose your investment, but you also somehow forfeit your dream. Below are a few of the best tips to incorporate into your business to ensure that you are the exception and not the rule.

Manage Your Workforce Well

As a small business owner, you should never underestimate the importance of workforce management. Workforce management includes keeping track of employee attendance, scheduling employees at the ideal times, task delegation for optimal results, and integration of an effective payroll system. Most small businesses employ either individuals or certain tactics to manage their workforce, but realistically, there are far better options such as workforce management software that is responsible for time tracking your workforce so you can manage it correctly. As Deputy puts it, "manage your whole team from your pocket".

If you aren't convinced that workforce management software is the road to a successful business, then Reuters points it out perfectly. In a recent study, it was found that workforce management software successfully helps businesses remain competitive, increase their profitability, increase business efficiency, and implement the better data that the software provides into the business's practices. Therefore, using time employee management software isn't just a consideration, it should be a must.

Free Press

Another factor that is outrageously overlooked among small business owners is the necessity of advertising, press releases, social media campaigns, and simply getting the word out that they exist and offer some really exciting products. As a small business owner, do not make the same mistake. You have a plethora of information out there, all for free. A few things that you can try, which are completely free of hassle and are actually fun, are selling your product via social media, posting content on a personalized Facebook page, creating a company profile on LinkedIn, Tweet your stuff, build a network of followers that aren't just following, but are dedicated to your business, and finally, choose the right professionals to do the job.

When you can manage your social media campaigns yourself and utilize the sources of free press that you have online, let's be real – a professional can and will do it better. Your time is precious as a business owner, and with one less thing to focus on, you can do your job like it needs to be done.

Mentors and Peers

This tip may sound odd at first, but if working professionals utilize mentors and peers to learn the tricks of the trade to hone in on their career, you can certainly do the same for your small business. A simple search online will bring you to dozens of websites that are dedicated to building networks of small business owners. By utilizing peer and mentor systems, you gain insight about the shortcomings of your methods and receive suggestions regarding how you can improve your business, each of which comes from people who have been there and done that – successfully.

Slow and Easy

Lastly, while it is unavoidable to want immediate followers, instant customers, and direct success, the real success of a small business does not operate this way. When starting your business, it is best to start small and wait patiently for the results to roll in. Don't jump ahead and establish a sales department, a marketing department, and so forth. Keep a small team that can handle the small influx of tasks and duties that a small business requires. Eventually, you'll begin to see growth. Only then can you really begin to take off. Just don't forget to also have a plan in terms of where you want your business to go. Once you see growth, set up a game plan and get to it.

Summary

The benefits of starting your own business the right way are tremendous. First, by implementing the right employee management software, utilizing social media, hiring professionals, reaching out to mentors, and being patient with a game plan in place, you are protecting yourself from the worst scenario possible, which is business failure. With these precautions, you'll put yourself in the running to become the exception, and not the rule so that you can enjoy from the fruits of your effort and from the fact that your dream is becoming a reality.

Image credit: Calita Kabir/Flickr