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Owning a small business is hard work at any time, let alone right now. In fact, for many owners, the combined impact of the pandemic and the cost of living crisis probably adds up to the most challenging economic circumstances they\u2019ve ever experienced. As a business owner myself, having started my own company, Tala, just over 3.5 years ago, I can confirm it\u2019s definitely been a challenge!<\/span><\/p>\n But here\u2019s something a bit less doom and gloom!\u00a0 Despite all the uncertainty, 33% of UK small business owners say their priority for the next months is not only balancing the books but achieving growth too. And 3<\/span>7% of Gen Zs claim they want to start up a business to earn more money to deal with life\u2019s rising costs.\u00a0<\/span><\/p>\n So, with all that ambition around, here are my five top tips for small business success, whether you\u2019re just starting out or looking to take your company to the next level\u2026<\/span><\/p>\n Nowadays, most people don\u2019t want the stuff they watch or read to look like an ad, they want it to feel as though they\u2019re talking to their friend. This means they actually respond very similarly to well-made organic content as they do to paid content. So, instead of going straight to paid ads, post your marketing content organically on your Facebook or Instagram\u00a0 to see what your audience engages with the most. You can then back the best performing stuff with some paid ads and reallocate your paid spend in real time to fit demand, like shutting off an ad when stock is low and promoting the next best product. All of which means you\u2019re only spending your marketing budget on content that you\u2019re confident is going to have the right impact with your customers. <\/span><\/p>\n Innovation is the lifeblood of every small business as it means you\u2019re constantly moving forward and unlocking new and better ways to deliver what your customers want. But if you are thinking of targeting a new market, testing a new product or trialing a fresh way of working, don\u2019t lose sight of why you started your company in the first place. People want to buy <\/span>into<\/span><\/i> your business not just <\/span>from<\/span><\/i> your business. So whatever changes you decide to make in order to grow, ensure that every person that comes to your page knows what your business\u2019 mission is. Now more than ever, it\u2019s them that will keep your customers coming back.\u00a0 <\/span><\/p>\n How often do you hear that, as a small business owner, you have to work every day of every week of every year. It\u2019s not always true (although admittedly there are periods of that!). In fact, this kind of hustle culture can burn you out. The key is to be more productive with the time you do spend working. So, instead of long to-do lists without timings, try dividing your day into quick ticks (<5 mins), tasks (5-30 mins) and projects (30+ mins) and three non-negotiable things you have to achieve. This should include blocking specific time for admin and for personal stuff like hobbies. Doing so will help you focus on the stuff that really matters for your business\u2019 long-term success rather than getting bogged down in bagging quick and easy wins to announce on social media for some extra kudos, and help you to fit in the things you love too<\/span><\/p>\n Securing financing as a small business owner can be tough, especially if you\u2019re a woman. In fact, for every \u00a31 of venture investment in the UK, less than 1p goes to all-female founder teams compared to 89p for all-male ones. That\u2019s shocking \u2013 and something investors and policymakers need to address as quickly as possible. What\u2019s true for everyone though is that raising capital isn\u2019t something you can just wing. Instead, you need a razor sharp knowledge of your business, a clear vision of where you want to go and be ready to model every single penny you\u2019re going to spend.<\/span> When you present your pitch, be yourself because people invest in people, not just ideas<\/span>. <\/span>\u00a0And if you get some interest, remember to think about whether the investor is right for you. Always follow your gut.<\/span><\/p>\n Getting help as a small business owner isn\u2019t an admission of failure, it\u2019s just smart \u2013 especially in tough times like we\u2019re in now. Consider taking advantage of initiatives like the government\u2019s Recovery Loan Scheme\u00a0 or digital skills programmes. Join a local small business network to make useful contacts and meet people you can learn from. And if you\u2019re lucky enough to be located around Birmingham, Manchester or Edinburgh, take a hefty chunk out of your energy and operating costs by cashing in on Meta\u2019s offer of free digital skills training and office space for the winter at fb.me\/goodideasstudios.<\/span><\/p>\n Grace Beverley is founder of the highly successful sustainable activewear brand, Tala. To help small business owners navigate the current uncertainty, she will be speaking at Meta Good Ideas Studios, a series of events where small business leaders in Birmingham, Manchester and Edinburgh can attend insightful panels, talks, workshops and training to help them grow their businesses, primarily online.\u00a0<\/span><\/i><\/p>\n<\/p><\/div>\nBe totally content with your content<\/b><\/h2>\n
Innovate in what you do and how\u2026but not why\u00a0<\/b><\/h2>\n
Boost your productivity not your working hours<\/b><\/h2>\n
Be prepared if you\u2019re looking to raise<\/b><\/h2>\n
Take advantage of help<\/b><\/h2>\n