Photo: Terry Tran/Unsplash
When you’re going through tough times as an entrepreneur in a competitive business hub like Melbourne, it can start to feel like the big city is not on your side. It’s important to breathe and ask for help where needed. Resourcefulness can get you through anything, so reading this list is definitely a step in the right direction. Here are five tips to consider for successfully running your small business in an expensive city:
1. Choose a Virtual Office Instead of Renting
If you don’t need a physical space to operate your business in but require an address to use as a base, then a virtual office will be a better use of your budget. With so many virtual offices in Melbourne, you can easily find something cost-effective that comes with all the features you need.
Small business packages can provide you with services like telephone answering, mail handling, sending of documents on your behalf, and other administrative requirements. The best part is, you are not locked into a long-term contract like a rental lease and can scale up or down as your business needs change.
2. Invest in Managed IT Support
Some businesses delay getting IT support in an effort to save costs. This is never worth it because IT mistakes are expensive and can cause significant setbacks for any type of small business that is still finding its feet.
A reliable way to keep your tech in check is to use an online IT support service that is geared towards small businesses. The best small business IT support is a managed service that will provide you with ongoing monitoring while you focus on running things from the front-end.
3. Spend Time on Your Social Media Presence
If you are still building up your marketing budget, invest as much time as you can into your social media and website. It is hard to stand out on a busy street, but giving your social media and website a bit of extra attention can work wonders online.
At the minimum, make sure your contact info, trading hours, service offerings, and pricing are up to date and correct. If you have the budget for it, a professional web design agency can give you an edge over the competition in terms of user experience and SEO.
Your online customer interactions are a great way for you to demonstrate your customer service, so make them count, and encourage customer reviews where you can.
4. Use Branded Gifts to Your Advantage
Whether you are rewarding your customers or celebrating a milestone with clients or employees, you can use branded gifts to make a positive gesture that also subtly advertises your business. While it’s a great way to form and strengthen connections, gift-giving can influence your business image and act as a form of marketing. So, make sure your gifts are accurately branded and appropriate for your clientele and business image.
5. Take Regular Breaks and Time to Relax
Sometimes, business owners try so hard to manage everything around them that they forget to take time for themselves. Excessive stress is not good for your health, nor is it ideal for running your business.
Avoid burnout by remembering to take breaks every day and schedule time for yourself. This could mean getting a massage, going for a walk, using your aromatherapy diffuser during quiet time at home, or even switching your phone to “Do Not Disturb” mode outside of business hours.
Being a small business owner is an adventure. It can be a challenging one, but the freedom and the payoff of achieving your own goals will make it worthwhile.