(NC) Being an entrepreneur means that you’ll often figure things out as you go along, without guidance or an established structure to help you navigate. Though it is one of the most exhilarating aspects of the job, it can also be daunting, especially when you’re first starting out. Dan Kelly, CEO of the Canadian Federation of Independent Business, offers his top three tips for small business owners.
1. Make mistakes and pivot often. As a small business owner, it’s important to constantly assess what works and what doesn’t work. On a daily basis, ask yourself: “Did I meet my business goals today?” and identify some key performance indicators. This will allow you to continue doing what works, or troubleshoot problems quickly by pivoting your strategy with minimal repercussions.
2. Know your customers. It’s all about relationships and reputation. Building strong relationships with your customers takes time, but if you treat them right and do what’s best for them in the long-term, you’ll have a better chance at winning and retaining their business. It’s also a good idea to find out where your customers are spending time online or on social media and to communicate with them there.
3. Build a support network. Set yourself up for success by joining a community of other small businesses where you can gain access to invaluable industry resources. CFIB provides specialized business resources and makes sure the voice of independent businesses is heard on government issues that are important to your business.
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