5 Ways That Your Small Business Can Win Big

They say fake it til you make it, and never is that more true that when it comes to running your own small business. You might be a solopreneur operating out of your spare bedroom but the world doesn't need to know that. You want to be taken seriously, build a network and attract custom thanks to a reputation for quality - but sometimes you just need a foot in the door. 

Being a micro-business gives you a lot of advantages over the big corporates. You're closer to the market demand, you can deliver flexibly and you can pivot quickly to turn your business to the latest opportunity. 

And yet, there are times when having the resources and gravita of a larger outfit are more desirable - when trying to get an in with a supplier, win over talent when it comes to expanding or trying to get potential clients to give you a chance. 

In these circumstances, your business could do with a boost - and fast. While you don't want to lose the innovation, can-do attitude of flexibility that you have as a small business, it would be good to borrow some of the attributes of a larger company when it suits you. And you can, with a few little tricks and tips to up your game and help your small business to win big. 

Think About A VA

If you are still flying solo building your company, then sometimes you get trapped in a classic cycle - needing to expand and take on more staff to service the needs of business, before you have enough profit to take on full time employees. You need the people to expand, but you need the expansion to fund the people. It's a fairly typical small business dilemma faced by a lot of start-ups. 

Even where growth funding can be secured, if you're operating on your own then it can be hard to find the time either. This is where services like using a Virtual Assistant (VA) can really support you. If there simply aren't enough hours in the day, or you find yourself getting bogged down with necessary but routine tasks to the point where you're struggling to fit in the work that earns the fees and keeps the business moving forward, then it can be the ideal solution. 

A VA can take on the tasks that are distracting you from the core work. After all, it makes sense to concentrate on your strengths and the things that only you can contribute and hand off the supporting tasks to someone else. 

As well as handling those much-needed but time consuming admin jobs like booking business travel and accommodation or going back and forth trying to arrange meetings with clients, a VA can also take on tasks such as creating pitch decks and presentations that you can refine, data management, social media scheduling and manage your inbox. It really can be invaluable to have the extra support at a critical time when you need to focus on growing your business. You can then focus on the income-generating activities you need to in order to gain the funds to expand, without the cost of a full-time physical member of staff right off the bat.

Learn To Outsource

Similarly, there may be other pockets of work that you are better off outsourcing to be done. Think of it like this - if you could dedicate your time solely to winning business, how much faster could your company grow? How much more profitable could each day be? You started a business to offer skills in what you do best - so it could it make more financial sense to focus on those and tag in help for the rest? 

With cloud based software, collaboration with outside support is so much easier. You could take on an SEO expert to recraft the copy on your website and boost it's visibility. You could hand off all the accounts to make sure financing and invoicing are in order without trawling through everything yourself. You could use Learning Management System consultants to set up virtual training on everything from the legally required basics to industry development - so you don’t find yourself up at 2am frantically writing up slides on internet security or health and safety. 

This option lets you get support without needing the obligation of full-time staff. It can grow with the demands of your business - and you may make some valuable contacts for the future, when you are ready to take staff on. Freelancing tools like ProFinder on LinkedIn can help you to build up a roster of contacts that can support your business. 

Learning to delegate is a challenge, especially if so far, you’ve done everything on your own, but it's the only way to really grow and develop what you do. Use any networking groups you are a part of to get word-of-mouth recommendations that you can really trust. 

Use Social Media Wisely

Social media tools can be both a blessing and a curse for fledgling businesses, so make sure you’re using them in the right way. Having a presence on social channels is a must these days. It’s the easiest way to communicate and connect with customers, suppliers, potential business partners and the wider world. Plus, it's cost effective and scalable. 

Having a social media strategy is a powerful way to win new business - there are companies out there with a low-to-none existing advertising spend, simply because their posts on social have so much reach. Because you have control over these channels, they can help you to put out the messaging you want. 

Instead of taking a scattergun approach, do your research first. Find out what channels your potential customers use, and what they are talking about using social listening techniques. That way you can step into the dialogue already informed and prepared with some great, relevant content to join in. You don’t have to think of these channels in the traditional soapbox way - it is a mistake to make your channels too sales-focused. Make it more about joining in the conversation and adding value where you can. People love to see behind the scenes snippets and relevant news as well. 

Creating a social media calendar is a great idea. It allows you to operate with a mix of scheduled posts (which you can create in advance and queue up to publish with services like Later) and live interactions. It’s such a great way to get to know customers better, and keep your plans closely aligned with their needs.

Make The Best Of Tech Solutions

Technology really is the great leveller when it comes to business. You might be operating on your own or in a very small team - but you can still have access to some of the same tools as every large corporation. 

Instead of needing a huge server room, you can use agile, cloud-based tools like Amazon Cloud that let you securely store and access data from anywhere and on any device. Accountancy software like QuickBooks lets you keep ahead of financial information, issue invoices and follow up on payments remotely. And if you do have a small team, or even decide to outsource and work with freelancers, keeping connected is easy on platforms like MS Teams or using project management software like Slack or Trello to make sure all tasks are in hand. Developments like instant messaging, screen sharing, remote document collaboration and video conferencing are the staples of modern business practice - and they are highly democratic. 

Most are based on a small monthly subscription payment rather than requiring a huge upfront investment, which makes them accessible for small businesses. And there are lots of useful tools that can be found on a free or freeium model as well, so you don’t have to have lots of available budget to get a professional working practice in place.

Attracting Great Talent

Once you are in a position where you can expand and take on the staff you need to grow your business, you may feel like you’re disadvantaged by size once again. The big companies can afford higher salaries, heftier benefits packages and other incentives to attract the best talent. 

However, there are things micro-businesses can offer that others can’t, and with a little creative thinking, you can put together a highly attractive package that will help you to win the employees you need. 

There’s a lot to be said for things like flexible working hours, offering the chance to work from home and offering additional paid vacation. Increasingly, candidates are looking for roles which will allow them to have a greater work-life balance. So if you offer a lot of flexibility in how they approach their work, and a chance to shape the direction of the company, that may count for a lot more than what can be offered by larger companies with a high headcount and strict policies. 

Studies have shown that home workers are more productive, happier and more likely to be loyal to the company they work for - so the benefits work both ways. Think outside the box about how you can make your company attractive and you’ll be able to get the right staff at the right time.