​Tips For New Business Owners

Tips For New Business Owners

Starting a new business or startup is risky, but often times, a risk that pays off. When owning a business, you will be a decision maker. You will be the one in control of growing your business in the right direction. Every business owner will come across hurdles that may feel disheartening in the moment, however there are pieces of advice that can help you avoid a few mistakes down the road. One of the best resources is advice from a successful business owner with years of experience. Successful entrepreneurs will tell you they do not regret starting their own business, but maybe should have done a few things differently in hindsight.

With over 30 years of experience as the owner of Bowman and Company, LLP, Bob Biddle has gathered great knowledge on running a successful business. Bob offers insight into growing the entrepreneurs of tomorrow. Here are 4 tips from Bob to help new businesses grow gracefully:

Invest in your employees

Hire people that feels like a good fit culturally to eventually grow a team that is trustworthy, positive, and cooperative. When your employees feel supported, they will be more creative and do work the best they can. “We have a great benefit package and because of that, we do not have a lot of turnover. Our compensation is fair, we promote from within. All hires are entry level and they move up within the company.” Having a happy team is crucial to growth, and you will be able to see it in their work.

Focus on Customer Service

Customers will always remember the direct contact they have with your company. Every customer is different, and you must be able to handle each one while giving them great service. “We emphasize that if we didn’t maintain our relationships with our clients, we wouldn’t have a job. We need to make sure that customer service is number one.” Clear communication is key when talking to customers. They appreciate someone who is willing to see their problem through until it is resolved. Stay up to date with knowledge about the company and its products or services to accurately assist your customers.

Embrace Social Media

One of the best ways to market your products or services is through social media. It opens a new line of communication with your audience, which will allow for promotions and valuable feedback from customers. “We are constantly updating our website and are blogging more than we used to. We were a little slow to adapt, but aggressive in the next year.” Choose and nurture social media platforms that your business should be on. Not every platform may be relevant to your business, so it is important to do a fair amount of research before taking it on.

Stress What Makes You different

You need to distinguish your brand from the thousands of businesses competing with you everyday. Identify the skills that you are good at and emphasize those talents to differentiate yourself and be more valuable to investors and consumers. Most importantly, identify the problem that you’re solving and the unique way that you are going to solve it. “Our people and the culture that we have make us different. This profession can be pretty demanding and provide a work life balance. We try to make sure that the work is spread out and our people don’t have heavy work loads.”

Join Our Newsletter

Get the latest news on insurance policies delivered to your inbox.

Join Our Newsletter

Over 60 5-Star Reviews on Google