Evolution
As some of you may be aware, in April of 2022 I launched a new line of business called SLH Solutions. The focus being to provide entrepreneurs at any stage with the support they need for the business, focusing on their online presence and visibility while helping with the overarching strategy to complement their vision for growth. With the everchanging landscape of business and marketing strategy, I have consolidated all of the consulting under Second Life Careers and separated the franchising under a new unit of SLC called SLC Franchising.
Being an entrepreneur is all about adaptability and my word for the year is Evolve. Think seriously for a moment, then add a bit of comedy by picturing Ross from Friends screaming 'PIVOT'! Running your own business is serious but it should also be fun. Through the ongoing evolution of my business, what I want most is to help small businesses, startups and solopreneurs recognize their vision and to work with people who care about both their clients and their mission. A few questions to think about:
How do you plan to evolve in your business?
If you’ve been in business for a while, how do you keep things fresh and interesting while delivering value to your clients?
When was the last time you looked at how far you’ve come?
What tools are you using to automate repetitive tasks and create more efficiency in your business so you can focus on your passion?
Is your audience engaged in your business, following on social media and reading your emails and/or content?
What are you goals for this year?
Bootstrap
This quote from Ryan Holmes, Co-founder of Hootsuite, is great for entrepreneurs at ANY stage of their business. "When in doubt, bootstrap. Using your own personal resources is the easiest way to start a business. You don’t have to convince investors about the merits of your idea. You just have to convince yourself." While it focuses more on starting the business, it can be applied throughout via perspective and confidence. If you know you have a good idea, love your concept and are passionate about it, what are you willing to do to make it successful?
With that in mind, it's important to be mindful of the ever-changing market dynamics, competition, client demand and more. So how can a business evolve and adapt to meet these changes and continue to grow? Here are a few things to keep in mind:
Continuous learning: This can involve attending industry events, reading business books and articles, attending webinars and conferences, networking and staying up-to-date on the latest trends and technologies. By continuously learning, entrepreneurs can better understand how their business can adapt to changing market conditions.
Customer feedback: Listen to your clients! This is crucial for the success of any business and entrepreneurs should be proactive in soliciting feedback from their customers, then use that feedback to improve their products or services. By paying close attention to customer feedback, business owners can identify areas for improvement and stay ahead of the competition while also retaining their client-base.
Innovation: Constantly be looking for new and innovative ways to improve their products or services. This could involve incorporating new technologies, developing new marketing strategies, bringing in different types of staff/roles or creating new revenue streams.
Flexibility: Be open to making changes to the business model or pivoting the business when necessary. As trends and technology shift, this could involve changing the target market, expanding the product line or exploring new distribution channels.
Strategic planning: It is essential for entrepreneurs and small business owners to have a strategic plan in place. This plan should outline the long-term goals and objectives of the business, as well as the steps that will be taken to achieve those goals. By having a strategic plan in place, entrepreneurs can stay focused on their goals and make informed decisions about the evolution of their business.
Be Proactive
By continuously learning, listening to customer feedback, innovating, having a strategic plan in place, yet being flexible enough to move with the markets, entrepreneurs can adapt to changing market conditions and stay ahead of the competition.
Interested in learning more about how we can help you innovate your business or create a holistic online presence? Click here for your free consultation.