Key steps to help running a small business

Owning a small business is difficult enough. Add in a global pandemic that closes doors and discourages in-store shopping, it’s nearly impossible. As a local company, we understand the challenges that come with running a successful small business. We wanted to provide our fellow Dayton businesses—and all small businesses—with tips and advice on how to stay successful during this time. 

1.Build a support network 

Being a business owner can be isolating, especially during challenging times. Friends and family are great support systems, but they don’t always understand the ins and outs of running a business. That can make it difficult to explain issues and offload problems on them. One way to combat this isolation is to find connections in the larger business community. Both Facebook and LinkedIn are great places to find groups in your area full of small business owners with similar struggles and concerns. 

If you would prefer one-on-one time, consider scheduling time with a personal business coach in your industry. He or she can hopefully help you find solutions to problems and work through tough decisions with you based on their experience. Either way, find a support system that you trust and don’t be afraid to lean on them. 

2. Be flexible and adaptable

Sticking to what you know (and do best) is typically the best strategy for success. However, life doesn’t always go as planned, and if your business is opposed to change, it might be difficult to continue to see positive sales. For example, if you solely sell your products or services in-store, now might be the time to create an online presence. You can build a website to promote your business or use shoppable post functionality on social media. Being adaptable allows your business to continue to succeed, even in the face of adversity. 

3. Set realistic goals 

While it may be disappointing and disheartening, this is a good time to evaluate your goals and ensure they are reachable. The goals you had established at the beginning of the year might, unfortunately, be unrealistic now. First, give yourself a break and understand this has nothing to do with your skills or performance as a small business owner. Then, try setting a bunch of smaller, more achievable goals. For example, instead of having a specific revenue dollar amount in mind for the end of the year, break it up into smaller numbers, like monthly or even weekly revenue goals. This will allow you to continue to reevaluate your goals in real time as the current situation changes and evolves. 

4. Take advantage of local resources 

Thankfully, there are dozens of national and local resources for small businesses. SCORE offers free mentorship for entrepreneurs and online resources to help your business survive. America’s Small Business Develop Centers have webinars, downloadable materials and more to keep small businesses on their feet. You can access their resources online or find an SBDC representative in your area. If you’re a local business in Dayton, Ohio (like us!), the Dayton Chamber of Commerce offers answers to frequently asked questions along with a downloadable resource guide. 

No matter what product or service your business sells, remember that we’re all in this together. We have never been more proud to be a small business and hope you feel the same way, too.