TMA has worked with hundreds of small businesses and our team has nearly 200 years of combined professional experience.
We thought it would be fun to ask the TMA team what the most successful small businesses do better than the others.
They told us that “The most successful small businesses…”
- Never stop learning
- Work on their business, not in their business
- Provide great products and services – and improve them constantly
- Focus on what they do best and delegate the rest
- Build a network of peers for sharing advice and ideas
- Learn as much as possible from customers and competitors
- Have an attitude of ‘get it done’ and ‘happy to do it’
- Maintain organized records throughout the year
- Plan ahead for taxes. Being surprised at tax time sucks.
- Use financial statements as a tool for decision-making
- Define their market and model precisely. We can’t be all things to all people
- Improve profits by increasing revenue, not by cutting expenses
- Spend more time developing and appreciating employees
- Build a business culture around productivity, customer service and teamwork
- Treat customers really well. Word-of-mouth is the best advertising
- Spend more time and resources on sales activity
- Spend more time working on goals that are specific, realistic and written
- Cultivate better relationships with employees and customers
- Spend more time improving business processes
- Dedicate more time and resources for recruiting and improving their teams
If you would like to learn more about how our “20 Tips” could help you and your business, please call or email us. We love to share ideas that help our clients!