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Growing Your Business: It Means More Than Just Traditional Marketing

Jan 05, 2021
Open Sign

Image via Pexels

We all know that marketing is one of the best ways to achieve success. However, there is much more to it than simply posting on social media, airing commercials, and hanging bold signs in your business’s door. To grow, especially if you are relaunching after a shutdown, you have to get creative and also handle the practical aspects of running your business so that your marketing dollars don’t go to waste.


Find a great location to relaunch.


If you closed a physical location and plan to open a new one, take your time choosing the perfect spot. Ski Town Commercial Real Estate can help you find a vacancy that fits your budget. Look for somewhere with plenty of foot traffic and high visibility. Ideally, you also have lots of room to spread out as health officials continue to advocate for six-foot social distancing.


Set a business structure. 


Next, consider how your business is currently structured. This means taking a close look at your management flowchart as well as your actual business structure, such as if you are an LLC or sole proprietorship. If you have not considered the latter, look into reforming as an LLC, which can be a convenient and inexpensive process. There are many rules to consider, so do your research online before filing the paperwork. When evaluating your organization chart, remember that it is up to you to make changes based on what’s best for your business, not to appease your senior management. If you need to make adjustments, do so.


Master the art of budgeting.


Budgeting is a part of your overall marketing plan. After all, if you do not know where your money is coming from and where it is going, you can’t set aside funds to make improvements or advertise. Signature Analytics further asserts that creating an annual budget can help you gain an understanding of your professional goals. It will put you in a better position to tackle any financial issues that arise. More importantly, having your in and outgoing money organized means that you will have no problem providing the information requested by the IRS or other governing entities if you get audited at some point.


Set up for a soft opening. 


While we all get excited at the thought of a grand opening complete with giveaways and lots of fanfare, plan for a soft opening first. A soft opening is essentially a trial run of how things will work once you open your doors to the public. This may be an invitation-only event or you may choose to simply turn on your open sign to encourage passersby to pay you a visit. Operating with fewer customers for a while before a hard launch can help you work out the kinks.


Get the word out. 


Once you have all of the details sorted out, it’s time to create your marketing plan. Keep in mind when doing so that attention spans are short. All of your marketing material must be able to capture attention in less than eight seconds. You also want to reach out to your community, collaborate with other business owners, and figure out how to create buzz. Make sure you have a social media presence and that you have successfully claimed all of your auto-generated listings, such as through Google or Yelp. If you previously opted for a soft opening, make sure to check Facebook for an auto-generated page and tags. 


Starting over after a long closure is difficult. However, when you want to run a successful business, you will find a way. Before you jump headfirst into the process, take the time to do it right. This might mean moving to a new location or skipping the fanfare on opening day. However you choose to structure and market your business, do keep one thing in mind: as the world changes, you will have to continue to adapt. Having a solid plan in place now can help you do just that and lessen the chances of facing another unexpected closure in the future.


Ski Town Commercial Real Estate offers Steamboat Springs investors the highest level of integrity in all areas of commercial real estate. If you’re looking to move your business to our beautiful area, contact us today to see how we can provide exceptional service to you.

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02 Feb, 2021
Riding out the pandemic takes more than a stockpile of hand sanitizer and strong Wi-Fi. Small businesses are running into all kinds of challenges with not just staying open, but also connecting with the resources they need for success. If you’re unsure which direction to go to get your business back in the game, consider these resources. Revamp Your Brick-and-Mortar For physical stores, a business closure can be a tough time. But reduced or nonexistent foot traffic offers an opportunity for in-store updates. Implement social distancing with in-store strategies and signage. Apply deals like an Overstock coupon to your digital cart to save when buying business items. Prep for a relaunch and soft opening when it’s safe to do so in your community. Pivot to Online Operations Whether you offer a service or product, moving to online operations can offer your company the chance to flourish. Build a website for your business to engage with consumers during closures. Open an online store to sell products via an eCommerce model. Start connecting (and showcasing your wares) on social media Enlist Auxiliary Support Doing everything on your own might be the name of the game in entrepreneurship, but the right support is essential for weathering the pandemic storm. Delegate admin tasks to a part-time virtual assistant to move your focus elsewhere. Determine whether your money situation requires the support of a financial consultant. Add online business tools to keep you (and any staff) organized. Get Creative with Funding Finances are a significant issue for many businesses and families during the pandemic. While getting your budget in order can help, you may also need alternative funding sources for the short-term. Explore debt relief assistance for business owners. Check whether your local chamber of commerce has grants or other funding available. Investigate other financial assistance programs for a range of organizational expenses. Whether you’re prepping a plan for reopening or are undergoing a prolonged business closure, small business ownership is a challenge. The pandemic may be sticking around for the long haul, but business owners do have options. Use these resources to regain your footing and prep for your company’s future. If you’re in the market for commercial property for a new or renovated venture, visit Ski Town Commercial Real Estate . Photo via Unsplash
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