Logo

5 Key Success Factors Of Small Businesses Through The Social Media

Every business bases on their unique key success factors and five incredible businesswomen, small business owners, from around the world shared their “secret success recipes” to help out other aspiring entrepreneurs make a difference in their ventures. Meanwhile, nearly every business utilizes social media platforms in different capacities, mostly for marketing purposes. Here is how you can incorporate the social media in discovering and implementing the five elements in your business or career.

#1: TEST, TEST, TEST

“Do basic business planning, but be flexible about it. Know your market, test it,” advises Jenny Wilmshurst of Tweet Twins. Wilmshurst is one of the world’s first social media consultants and one of New Zealand’s first LinkedIn specialists and influencers.

Wilmshurst also adds that if you spend too long planning, you will miss the opportunity. You need to be agile and responsive. In the Internet marketing sector, you may have a great idea and you want to get it perfect graphically, etc., but how do you know if there is a market? Put sales pages out there; get them in front of as many people as possible to see if there is even a need.

How to incorporate Social Media: Statistics show that 1 in 4 people worldwide use Social Media. This means, that your target market is on it. Using various settings and filters, define specific targeted personas, customize your messages and promotions and send them their way. Monitor the response and react accordingly.

#2: LEARN ON THE FLY

Learning on the fly is part of the deal and Tess Strand of Oregon, founder of Virtual Assistant Forums, the virtual assistant industry leader and pioneer will attest to that in a heartbeat. “You dive into a business or a project or even just the idea of making something new out of thin air, and there is no way you are going to have all the tools and skills you need to make it happen – you’re going to have to learn on the fly; you’re going to have to get in and get messy and try new things and not always play it so safe because, unless you step out of that comfort zone, unless you reach for something that stretches you, where is the growth?”

How to incorporate Social Media: Never before has the information been so easily accessible – just be careful to check out the source to confirm its credibility. And never has it been easier to connect with experts, to collaborate with them and learn from them. So, the next time you need a tutorial on how to operate that project management software, reach out to your circles – chances are, somebody knows someone who has the answers.

#3: KNOW WHEN ENOUGH IS ENOUGH

Laurie Guest, CSP, of Solutions Are Brewing is a world-renowned Certified Speaking Professional from Illinois. Guest says, “I am a huge believer in the Law Of Attraction, dry erase board with quota and excel spreadsheets. I keep color-coordinated squares so that I can see at a glance how close I am to the quota. If I don’t meet the goals at the end of the year, I am not too hard of myself, however. Be true to yourself, not hard on yourself – why did I fall short, what do I need to change?”

Guest adds: “I needed to figure out when enough is enough. True, more bookings mean more money, and more bookings mean I am more successful. So, am I bigger and better? I don’t have to compare myself as long as [I] have the lifestyle [I] want.”

How to incorporate Social Media: This is a tough one… with so many successful experts, available free information and content, and numerous of oh-so-awesome cannot-run-your-business-without programs and products, it’s very easy to fall into so-called “entrepreneur frenzy”. Be conscious about who you follow, what content you download or purchase to make sure it complies with your goals, your objectives and so that it will actually add value to your activities. Know when you have acquired enough information and when it’s time to eliminate some. On the contrary, apply some criticism to your activities, be selective of the projects you take on in order to develop and grow in the desired direction. Be who you are and who you want to be – not somebody else. Know when enough is enough.

#4: KNOW YOUR NUMBERS

“Without tangible goals and Return On Investment, we tend to keep doing it for fun. But if you want to learn something, you need to evaluate if it’s a good investment of money and time,” explains Michelle P. Grewal of Massachusetts, founder of The Dazzle VA and a serial entrepreneur who started her first biz at age of 12.

After that, Grewal continues: “You still need to implement it. Start small and be cautious about investments. Every investment has risks and returns and you need to be educated about it.”

How to incorporate Social Media: With the social media marketing, you can cut down your client acquisition costs substantially and still reach a wider audience, laser-focused on your target market/end audience. All you need is a clear strategy, quality content, consistent implementation and monitoring that will allow for fast responsiveness to all the changes, trends, engagement, etc.

#5: BE GENUINE – ONLINE AND OFF

Minnesota’s Tena Pettis founded Tenacious Edge and is employing three full-time employees. She always pairs in-person meetings with the online ones. “I am really active in pursuing clients strategically.” Pettis says, “I respond to questions they ask on social media, share their content, e-introduce them to people who would benefit from their expertise… and it’s not just about follow-up… I genuinely show I want to help them. And this results in a lot of referrals.”

How to incorporate Social Media: This one is a no-brainer. When you utilize the social media platforms to promote your business, or to even build a brand for yourself, be genuine, let your personality shine through. Above all, however, remain professional and only share content that is relevant and compatible with your objectives.

As you can see, social media is more than just an extension of your marketing efforts, it plays a vital role in reaching your business/career goals, so utilize it to its fullest potential.