3 areas to become clear on in your business

As a Small Business Owner, it’s important to check in with your business on a regular basis. As you become more established, checking in may become a quicker in some cases.

3 areas to become clear on in your business include:

Money & Finances

Often considered cringe as many Small Business Owner’s strengths don’t sit in this area.

Understand your overheads and the bare minimum you need to keep the business coasting. Cashflow is very often an issue in the first few years of business, so knowing this information is key.

Questions to ask yourself include:

What are your running costs
What are your overheads
If you’re paying yourself at this point, what’s the amount or %

Average Transaction Value & Purchase Frequency

On average, how much are your customers spending on purchases from your business?

Knowing your average transaction value will help you to adjust elements to potentially increase this spend.

Can you bundle services / products, should you create a referral network, do you need to launch a new offering to assist with up-sells or cross-sells.

Also understand how often people are buying from you. Do you need to launch a retention marketing strategy to help with this?

Community

I know you’ll agree, community is everything!!!

Beyond building your community, partnering with like-minded business helps you dip into each others audiences to expend your reach and exposure.

Creating a marketing strategy which builds your community each quarter is a smart way to build your business.

Business Coaching Enquiry

ALISON IS A BUSINESS COACH, WORKING 1:1 WITH SMALL BUSINESS OWNERS AND PERSONAL BRANDS TO HELP CREATE THRIVING ENTITIES THROUGH MARKETING STRATEGIES, BRANDING AND TAILORED BUSINESS SOLUTIONS.

ALISON ALSO IS THE FOUNDER OF STICKY STUDIO, A BOUTIQUE BRANDING HOUSE CREATING WEBSITES, BRANDING, LOGOS, SOCIAL MEDIA AND CONTENT MARKETING FOR BUSINESSES AND BRANDS.