As we move deeper into the second quarter of 2014, you should follow up your strong start by looking at your pricing, customers and team to make sure you are on the right track for meeting your targets for the year. After that, take time to really examine your broad scope vision for your small business. Revisit goals if necessary and clearly communicate updates to your employees and close advisers so everyone is on the same page. This is important for the short- and long-term success of your small business. Here are five tactics you should try for greater income in your small business.
• Develop a strategic plan: There's an old saying that you should walk your dog, your dog should not be walking you - and in business it's same thing. If you are constantly in reactionary mode in your business, responding to the latest gasoline fire, you're working on someone else's agenda and not your own strategic plan. Don't just run around each day feeling exhausted, develop a strategic plan for 2014 and beyond, and be sure to include a target client list. You must plan for success, it will not just happen to you.
• Get some help: Your business can only grow as far as your hand can reach. You need to get some help. As entrepreneurs, we tend to think that no one can do it like we can, but you would be surprised -- someone you hire might do it even better. Never spend your precious time doing $10-$15 an hour work. Focus your efforts on getting more business instead. Do not mistake "busy-ness" for a growing business.
• Build your skills: Invest in training courses and webinars to build your business skills. You can develop your social media marketing, budgeting, negotiation, sales and leadership skills. If you haven't already done so, you should set aside budget to attend at least one educational conference per year, or consider hiring a coach to help you take your business to the next level.
• Network like a pro: Dust off your elevator pitch and budget your time to attend at least two networking events per month. Check out what types of events your local chamber or association might be hosting. If you are shy, take a friend, but split-up when you get to the event. You can share the business cards of all the contacts you met on the way home. Just don't walk around with each other, force yourself to build new contacts.
• Build your confidence: In order to make big money in your small business, you must believe that you should. Your confidence is everything. You must also be careful not to have a scarcity mentality. No matter how badly you need the money, you must never act like it. If you focus on lack -- that is exactly what you will have. Use a vision board to get clear about your big picture vision for your small business.
What income building tips have worked for your small business?
This article was originally published under the title 5 Ways to Make More Money in Your Small Business in 2014 at www.succeedasyourownboss.com
Melinda F. Emerson, SmallBizLady is America's #1 small business expert. She is an author, speaker and small business coach whose areas of expertise include small business start-up, business development and social media marketing. She writes a weekly column for the New York Times, publishes a resource blog, www.succeedasyourownboss.com which is syndicated through the Huffington Post. She also hosts a weekly talk show on Twitter called #SmallBizChat for small business owners. As a brand, she reaches 1.5 million entrepreneurs a week on the internet. As CEO of Quintessence Multimedia, Melinda develops audio, video and written content to fulfill her mission to end small business failure. Forbes Magazine named Melinda Emerson one of the #1 Woman for Entrepreneurs to follow on Twitter. Melinda has been featured on MSNBC, Fox News, NBC Nightly News, and in Fortune, The Washington Post, USA Today, Wall Street Journal and Black Enterprise. She is the bestselling author of "Become Your Own Boss in 12 months; A Month-by-Month Guide to a Business That Works," and the ebook How to Become a Social Media Ninja; 101 Ways to Dominate Your Competition Online.