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Managing and Growing Your Business

Oze Coach
28 July 2020 - 3 mins, 17 secs read

As a small business owner, there are no shortcuts for launching, running and guaranteeing the success of your business. You also may or may not have an idea about running a business, but every day is a new day to learn something new. Ideally, as a small business owner, the basic things to do are to understand your customers and meet their needs and understand the market or industry you’re operating in. Every business is different in its own way but here are some tips to manage and grow your business smoothly:

Define your business purpose and mission

Of course, your business exists to make money, but that is not the only reason. Any entrepreneur will tell you that there is absolutely an easier way to make a living than running your own business. For example, OZÉ exists because we want to see a world where every small business has the tools, knowledge, and resources they need to grow. What’s your company’s purpose? Write it down and believe in it. 

Be consistent 

Once you know your purpose, make sure that everything that you do and say aligns with that purpose. If someone looks at your social media posts and then visits your shop or uses your product, they should understand the same purpose. At OZÉ, you can see that our Instagram posts of the business are consistent with our purpose. This helps our business to grow.  

Be different 

What makes you stand out in the clutter? Your brand isn’t just what you create, but how it relates to your competition. Think about “Chicken Inn” and “Barcelos”. Both restaurants sell chicken. Both restaurants are often found at malls. So, when you are at the mall and want to eat chicken, you don’t just think of Barcelos and you don’t just think if Chicken Inn, you think of them compared to each other. Barcelos has better service. Chicken Inn is faster. And then you think to yourself which attribute do you care most about before making your choice. 

Involve your employees 

Imagine that you went into a Vlisco store and the shopkeepers were poorly dressed in just old t-shirts. They also weren’t friendly and they did not help you pick a pattern that best suits your style. Would you still think of Vlisco as the destination for quality, fashionable prints? I think not. You would rather have the employees dressed in Vlisco prints or something that represents the brand and be up to date in the latest fashion news. If you do not involve your employees, your brand will not be consistent and the emotional experience for your customer will be flawed. 

Keep proper records 

It is common to forget to log your business transactions due to tiredness or a busy schedule. All of this can be avoided by using tools such as OZÈ that can help you track your sales and expenses. OZÈ is passionate about enabling small businesses to grow with technology, particularly in emerging markets. By providing small businesses with the data they need to make decisions, OZÈ enables investment-readiness and a chance for a local economy to assert itself on a global stage. 

Separate your business and personal finances 

For small business owners, personal and business finances may overlap because they invest their own money into the business. To see your business grow and survive, it’s important to separate your business and personal finances so you see the true reflection of how your business is performing over time. This will also help you make smart financing and investment decisions when your business is picking up.

Running a business is not an easy task but remember, again, that every day is a chance to learn something new. Keep learning and find new ways to optimize growth. Always reach out to OZÈ Coach for any business support.