Running a small lifestyle business is perfect for a lot of us, particularly those of us who have other life commitments too. When you bear in mind that a lot of businesses with grander ambitions never quite reach the heights they’re aiming for — and end up with bigger debts to show for it — there’s a certain freedom to pursuing a lifestyle business that could make you a healthy profit, but won’t take you to the cliff-edge if it doesn’t work out.
Nonetheless, it doesn’t necessarily do you any favors to think of your business as “just” a lifestyle business. The key to making more cash without big risks is to stop thinking of your business as “small” or “lifestyle” — with all of the implications that brings — and bring to it a few ideas that are more associated with the big hitters. The ideas that work for big companies can translate perfectly to smaller companies too.
Accentuate The Personal Side
This sounds contradictory to begin with — how can you make a small business seem bigger by making it more personal to you? Just think about it for a moment, though. The businesses that come to mind when you think of big money and media attention aren’t the ones who do things the way everyone else does them. Whether it be by bringing a touch of humor to your website or running one of the few genuinely engaged business Twitter accounts, you can set yourself apart from the crowd, and stick in people’s minds.
Launch An App
When you run through all the apps on your phone, the one thing they all have in common is that they’re names you’ve heard of. It seems like something only big businesses do — what would be the point for your lifestyle business?
In truth, it’s more than worth looking into it. You don’t need to be a tech whiz kid to do it – a little studying on the intricacies of .NET Core vs .NET Framework and a tutorial on how to build the app, and you’re there. You can then set up your online store to run through the app, release special “app-only” offers and send push notifications when you bring out a new product or service. Essentially, an app will make it easier for people to give you money, which is always helpful.
Use The Media — Old And New
The biggest earners in the business world are no longer just known for running their companies. They’re out there talking about the sector their business is in the moment it’s in the news. They’re seen as authority figures; you can do the same. It may start with letters to local press and calls to phone-ins, but if you know your stuff well enough to run a business, you know it well enough to talk about it on TV and in print.
More people will remember, for example, “that accountant lady that’s always on the news” over “that accountant on Main Street who did my friend’s taxes.” The more you’re in people’s eyelines, the more you can build your business — without needing to find the money to aggressively promote it.
Big business lessons are well worth learning, regardless of the size of your company. Keep these in mind and your status in the business world will grow exponentially.