Owning a business is a dream for many Americans. However, the process of starting and growing a small business can be intimidating. Robert Floyd of Horry County is a business mentor with experience in growing businesses in multiple industries, and he recently discussed what it takes to get your small business off the ground.
“Starting a small business requires a lot of effort and sacrifice, but the freedom of being your own boss and experiencing your own successes is well worth the journey,” Robert Floyd of Horry County said.
Floyd explained that all small businesses begin with an idea, and that idea must be a unique one. He emphasized the importance of building a product or service that is different and better than the competition.
“A small business must always be community-based. You need to fully understand your customers and provide the highest level of customer services,” Robert Floyd of Horry County added.
Floyd explained that exemplary customer service leads to follow-up purchases as well as countless word-of-mouth recommendations. He suggested staying in contact with existing customers via email newsletters or social media posts to keep them engaged and help build the customer base. Existing customers who are happy result in new customers as well.
“Supporting local charities and organizations can greatly improve your standing as a business and result in new customers,” Robert Floyd said. “Customers are eager to support businesses that give back to the community.”
Robert Floyd of Horry County also expressed the importance of marketing as a small business. However, he explained that marketing does not have to break the bank. Building a strong social media and online presence costs very little and can result in greater profits.
Every small business should have a website that provides essential information, such as where the business is located, how to contact them, the hours of operation, and more. Recent research has shown that 88 percent of consumers research their purchases online before buying in a store. Those who don’t have a solid online presence are missing out on a large number of sales.
“It’s important to keep your business costs as low as possible when starting,” Robert Floyd of Horry County said. “Don’t spend all of your money on expensive advertisements and over-priced equipment. Start small and local and build from there.”
Robert Floyd of Horry County finished by stating that it’s easy to save money in the digital era. Some small businesses may not even need a brick-and-mortar location if their operations are entirely online. Using social media, websites, and cloud-based applications can cut startup costs and help your business get off the ground and running. running.
