Finding Longevity and Success in Your Small Business
As a small business that has been around for 20 years, we know a little about longevity and success. What we have been able to achieve and how cannot easily be broken down, but here are our top three ways to find success in the long run.
Find Good People
IAS has always believed in investing in people, from top to bottom.
Finding good people can be divided into two categories: passionate leaders and empowered employees. Having leaders who care about their business might seem obvious, but is only a starting point. A real passionate leader will be able to inspire that same passion within their employees.
The people that work for your small business are going to be essential to its development and eventual success. You need employees who are aligned with your mission and have confidence and pride in their work.
Finding the right people will result in an environment that is more collaborative. Smart leaders will invest in their people and give them space to succeed. A successful small business is not a place for micro-management. Let your employees take charge and make decisions.
Your workplace should be a learning environment with room for growth.
You may think that profits are the key to good financial management, but that’s really just a piece. Simply put, making money requires spending money. Prioritize your budget with what makes the most sense for your business and keep it flexible. Accepting that your budget will adjust is essential.
Investing in the right places, rather than focusing on profits, will get you better results. This will differ from business to business, and it’s okay to change your mind. Maybe you’ll find that outsourcing will be best for you or you’ll realize that your money is best spent on marketing (we agree!).
Whatever you choose, make it count and make it smart.
Have a Strong Vision
Where do you see your business going? This is a question you’re going to ask yourself many times throughout your journey and you’re going to want to know the answer. Knowing your company’s vision will be vital. Without it, your business will not be consistent and will impact your success in the long run.
Find your ultimate goal to work towards every day. From there you’ll set short-term to long-term goals to realize your vision. Leaders and employees should both see this goal and work towards it, together.
Building your business will take time and there’s no perfect recipe for success. Have a strong vision, find good people, and make smart investments and the rest will come.
Don’t wait to start spending your money with intention! You can start right here with IAS. We’re a full-service marketing company ready to serve you and your small business. Marketing is a smart investment and always will be.