Many small business owners feel like they are on an endless rollercoaster. They are on a high one minute, raking in sales thanks to a successful launch or it being a certain time of year. Just as they begin to celebrate their success, their sales are dipping once again. While all businesses will have their highs and lows, there are a few ways to set yourself up for small business sustainability.
The Path to Small Business Sustainability
Before You Go Forward, You Must Go Back
It may seem counterproductive to put yourself back in the ‘start-up’ mindset, but that’s exactly what you need to do. The reason you could be having highs and lows is that your business basics aren’t there to carry you through the lean times.
Say you have just pulled off a big launch of a new product. You could be drawing in a tonne of traffic and making quite a few sales, which is great, but without the proper foundations, your business won’t be able to handle that influx of sales. Your website could crash, leaving your customers with a negative experience. Maybe you don’t have an email sequence set up for the customers who abandon their cart, losing you countless sales. If your SEO isn’t up to scratch, they may not be able to even find you on Google. This would make it impossible for them to become repeat customers even if they wanted to.
The Three Little Pigs
As a business coach for women in business, I always talk about and old favourite of mine… The Three Little Pigs. Build your house of straw or sticks and the big bad wolf is going to eat you up every time. Put in the work to lay the proper foundations of brick, and you’ll last through any huffing and puffing that comes your way. Small business sustainability works exactly the same way.
You have to lay the proper foundations before you get to do the fun stuff like big launches. Is your website fully set up and optimised? Do you have a marketing strategy? are you aware of who your target audience is? Do you have a budget, with a reserve for leaner times? are you following a clear business plan? Do you track your performance? The answer to all of these questions and more need to be an enthusiastic YES if you want to run a sustainable small business.
Where to Start
That’s a lot to digest, so I don’t blame you if you feel a little bit overwhelmed right now. The good news is that you don’t have to figure all of this stuff out on your own. Many small business owners have been exactly where you are now and we can learn from their journey and mistakes.
If you need to build up your foundations, a great place to start is Profit Pillars. Profit Pillars is a 12 month group coaching program for women in business to learn how to gain clarity in your business. I’ll help you come up with a clear plan, ensure your website and other platforms are up to scratch, and overcome any obstacles in your way. I’ll be there with you every step of the way, available to answer any questions in our monthly group coaching calls. You will also get to share your experience with other business owners taking the course, learning from them in our members-only Collaborative.
To learn how you can achieve small business sustainability, check out Profit Pillars now.
Remember, all businesses will feel as if they’re riding the roller coaster from time to time. Stepping off and achieving small business sustainability just takes a little bit of planning and solid foundations to make your plans work. Check out my business podcast – Business and Life Conversations with Angela Henderson [with over 100 episodes you’ll find something to grow your business forward) or check out my blog for more helpful articles about growing your business.
Have an awesome day,