Small Business Tips for Long-Term Success

Building relationships with customers results in security.

The failure rate for small businesses is incredibly high. Many small businesses rely on "good products," "good ideas" or "good services," rather than on proper preparation, business structure, funding and marketing  strategy. While having a sound product and/or service is also a must, a business with a great product or service that is not supported by strong, fundamental business concepts will not be successful in the long run.

• Plan for the worst. Businesses that are prepared for financial and public relations crises can handle them in a proactive, rather than retroactive, fashion, which will be beneficial in the long run.

• Know your strengths and weaknesses. When businesses are aware of their strengths, they can capitalize on them and sell the company better to customers and clients. Additionally, knowing weaknesses is equally important so improvements can be made.

• Build a relationship with your customers or clients. Establishing a relationship with customers and clients is essential. Especially during times of economic hardship, loyal customers help keep businesses afloat.

• Don't try to grow/expand too fast. Growing too fast can also be detrimental for a small businesses. Prior to running a huge advertising campaign (or other marketing tactic), businesses must ensure that they have the man power to support the company's efforts if there is a surge in demand.

• Know your competition. Keeping an eye on competitors is beneficial because businesses can not only see what other businesses are doing successfully, but also what tactics other businesses have tried that have been unsuccessful, so they can avoid going down the same path.

Public Relations 101: Transparency in Business

At the end of the day, people are going to do business with people who they feel like they know and trust. While the aforementioned statement may initially seem like a no-brainer, transparency in business is one of the key determining factors for the longevity of a business—yet many still struggle how to accomplish this without saying too much.

So what is transparency in business anyway? Does business transparency mean that businesses must disclose every little detail to current and potential clients and customer? To the contrary, transparency in business is less about how much is disclosed, and more about the frequency of disclosure and the manner in which this is achieved. For instance, if a manufacturer of goods discovers that there may be a problem with the construction of one of its products, obviously the business should immediately inform consumers about the problem. It may not be necessary to tell why the problem exists or how exactly the product reach consumer hands despite quality and assurance checks, as this may induce unnecessary panic. However, it is critical that the company stay in almost constant contact with the consumer during the crisis situation so the consumer feels as though the company really cares about their safety, and not just the company’s bottom line. Depending on the magnitude of the crisis, weekly, and sometimes even daily updates may be necessary.

While the size of the company is often a determining factor in reach, various approaches can be taken to ensure that the proper information reaches consumers in a timely manner during a crisis situation. Press conferences are an option for larger companies, while similar “conferences” or announcements can be made on company Web sites or even sites such as YouTube and Twitter for smaller companies. Announcements via email, newsletters and brochures are always great ways to show consumers the lines of communication are open. Lastly, the distribution of press releases can ensure that your company’s message reaches consumers and other key stakeholders through prime media outlets.

Remember, transparency is more about frequency than full disclosure. Always be sincere and truthful, but be careful to properly construct the message you want consumers to receive—as that one press release may be your only opportunity for redemption.

To learn how Writings by Design can help your company through a crisis, or just keep in contact with stake holders through press release construction and distribution, visit http://www.writingsbydesign.com/, email inquiry@writingsbydesign.com or call us at 866-937-2361.