Punches look simple, but any professional boxer will tell you that getting the right impact involves expert knowledge of the body, how to position yourself, the appropriate structure behind the punch, and the timing of tension and release. There’s a lot of behind-the-scenes know-how that goes behind something as deceptively simple as a punch.
The same is true of business.
From the outside looking in, running a business looks incredibly simple. Even more so now in the age of e-commerce, where business is done through a screen. Most people forget that there’s a person on the other side of that device doing marketing, budgeting, stock-taking, manufacturing, packing, shipping and customer service. For small businesses, this is often done by a minimal team, absolutely fighting to stay ahead of the digital world.
If you’re looking to start a small business, it can be an intimidating world for those not used to it. Today, we’re looking at how you can make an impact in the ring of modern business ownership.
Round 1: Digital Presence
The world is connected like never before. The internet is the biggest change to the business sphere since the industrial revolution, and knowing how to use it properly is imperative. Obviously, not everyone knows how to use web design services like WordPress, but that’s why companies like WebOracle and others exist: to help coach, design, and implement web-based business solutions.
And really, when you look at how integral a good digital presence is to running a small business, it’s no small wonder. These days, many businesses spend a big chunk of their revenue on marketing, and most of that marketing is digital. From content creation, websites, email marketing campaigns, digital specials, social media management, consumer engagement, metrics, and more, marketing your brand and business is the first step in making sure you can weave around the noise of the internet and hit your audience right where it counts.
Round 2: Resources
Even if you’ve never run a successful business before, there’s a way you can step into the ring confidently. Research and get inspired by those who came before.
Just as a coach provides their fighters with the resources to win fights, the world is full of resources that small business owners can access in order to give themselves a fighting chance from the outset. This includes online guides and resources, such as business plan templates, budget calculators, and more, to subsidised education in various fields that can be accessed both on campus and digitally.
With all these resources available (and for the most part, free) online, there’s absolutely no reason not to use them. Granted, it might take a few tedious hours, but good preparation means you won’t need to throw in the towel later.
Round 3: Change and Improvement
One strategy doesn’t win all, and what worked for one business owner won’t necessarily work for you. You can’t open a taxidermy business but operate like McDonald’s.
Therefore, you need to be open to changing, adapting, and improving. Any business that remains stagnant is like a fighter that stands still: eventually, you just won’t be able to take the hits anymore.
By all means, have a strategy when you start your business. Have an idea, an identity, a methodology drafted out for handling any upsets that can (and will) occur. But make sure that you are also always maintaining the role of an observer in your business. Make sure you’re remaining objective about whether or not something is or is not working. See if anyone else in your industry has come up against the same issue, and how they handled it.
If your workload is too big to handle alone, consider outsourcing if you can’t afford to hire staff. If you seem to be out of money a lot, review your finances frequently, or come up with new methods for tracking the flow of money. Or if an idea of yours isn’t working, have the humility to admit that maybe your perception of the issue wasn’t the best plan, as you originally thought.
Round 4: Check the Competition
Business and fighting have many things in common, but the most glaringly obvious is that they are both competitive endeavours. However, instead of trading physical blows, businesses trade economic ones.
To stand out and apart from the rest, you need to understand where you stand in relation to established competition. Do research on your industry and your location. Is the market for your business already saturated? Would you be better off in another location or in another business? Or what can you do differently from your competitors? Analyse what customers like or don’t like about your competition, and provide the answers to their pain points.
Remember, to be a business owner, you need to look at things objectively. Look at your ideas critically, know when to persist and when to adapt. Knowing these things begins with ensuring you’re as aware of your competition as you are of yourself.
Final Round
Starting a business these days is demanding. While enterprises have always commanded constant input from those who start them, these days the internet keeps us on the clock 24/7. While there’s a lot of negativity that can come from the internet when running a business, it’s important to recognise that it’s a tool that, when used properly, can be a gateway to massive profit.
But more than that, making the best impact with your business comes down to your approach to it. Whether you succeed or fail will be based on your idea, your preparation, your launch, how you use your tools, and how well you adapt the business over time. This article went over a few basic tips to get you started, but ultimately, it’s up to you to make the knockout.
